Future FinTech Group Inc. (NASDAQ:FTFT – Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 359,400 shares, an increase of 11.2% from the March 15th total of 323,200 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily volume of 129,300 shares, the days-to-cover ratio is currently 2.8 days.
Future FinTech Group Stock Up 3.9 %
Shares of FTFT opened at $0.87 on Wednesday. The business’s 50-day moving average is $1.05 and its two-hundred day moving average is $1.03. Future FinTech Group has a fifty-two week low of $0.68 and a fifty-two week high of $2.60.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Future FinTech Group by 32.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 823,153 shares of the company’s stock worth $624,000 after purchasing an additional 201,095 shares during the period. JPMorgan Chase & Co. grew its position in Future FinTech Group by 6,754.4% during the first quarter. JPMorgan Chase & Co. now owns 89,382 shares of the company’s stock valued at $68,000 after buying an additional 88,078 shares during the period. Finally, State Street Corp increased its holdings in Future FinTech Group by 86.2% in the first quarter. State Street Corp now owns 73,367 shares of the company’s stock valued at $56,000 after buying an additional 33,974 shares in the last quarter. 0.19% of the stock is owned by institutional investors and hedge funds.
About Future FinTech Group
Future FinTech Group Inc, through its subsidiaries, operates online shopping platforms in People's Republic of China. It operates in four segments: Shared Shopping Mall Membership Fee, Fruit Related Products, Sales of Goods, and Others. The company operates Chain Cloud Mall (CCM), a real-name blockchain based e-commerce platform that integrates blockchain and internet technology; and NONOGIRL, a cross-border e-commerce platform.
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