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NEW YORK - Mercurity Fintech Holding Inc. (NASDAQ:MFH), currently trading at $4.59 with a market capitalization of $274 million, has seen an expansion in its institutional investor base following its inclusion in the Russell 2000 index, according to a company statement released Friday. According to InvestingPro data, the stock has shown significant volatility, with its price ranging from $1.03 to $8.86 over the past 52 weeks.
The blockchain-powered fintech group reported that major asset managers, global banks, and ETF sponsors have established or increased positions in MFH stock, as reflected in recent 13F regulatory filings submitted in early to mid-August. The company’s financial health score from InvestingPro is rated as "FAIR," with notably strong liquidity as its current ratio stands at 2.59, indicating solid short-term financial stability.
Among the institutional investors reported to hold MFH shares are BlackRock, Geode Capital Management, State Street, Vanguard, and Northern Trust. Several pension funds, including the California State Teachers’ Retirement System, the Police and Firemen’s Retirement System of New Jersey, and the New York State Common Retirement Fund, have also slightly increased their holdings.
The company noted that much of this investment activity appears to be index-related or passive in nature, following MFH’s addition to the Russell 2000 index, which is widely used as a benchmark for investment strategies.
"Having more institutional investors on board is exciting for us," said Shi Qiu, CEO of MFH. "It not only brings more liquidity to our stock but also puts us in front of a wider investment community." The increased attention comes as the stock has delivered an impressive 202% return over the past year, though InvestingPro analysis suggests the stock may be trading above its Fair Value. Subscribers can access 13 additional ProTips and comprehensive financial metrics to make more informed investment decisions.
The company emphasized that these index-driven acquisitions should not be interpreted as strategic endorsements of MFH, though it views the expanded institutional presence as recognition of its fintech and digital asset platform development.
Mercurity Fintech Holding offers technology and financial services through subsidiaries including Chaince Securities, LLC, focusing on digital assets, financial advisory, and capital markets solutions.
In other recent news, Mercurity Fintech Holding Inc. announced it has entered into securities purchase agreements with institutional investors, aiming to raise approximately $43.7 million through a registered direct offering. This offering will include the issuance of 12,485,715 ordinary shares and an equal number of warrants, each priced at $3.50 per share. The company also recently completed a private placement financing, securing around $6 million in gross proceeds from institutional investors. Additionally, Mercurity Fintech has initiated a share repurchase program of up to $10 million over the next 12 months, which may involve open market or privately negotiated transactions. However, the company decided to cancel a previously planned registered direct offering of ordinary shares and warrants due to market conditions and challenges in meeting certain closing conditions. These developments reflect Mercurity Fintech’s ongoing financial strategies and adjustments in response to market dynamics.
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