360 DigiTech (NASDAQ:QFIN) Shares Gap Up to $16.78

360 DigiTech, Inc. (NASDAQ:QFIN – Get Rating) shares gapped up before the market opened on Friday . The stock had previously closed at $16.78, but opened at $17.30. 360 DigiTech shares last traded at $16.74, with a volume of 63,172 shares traded.

360 DigiTech Stock Up 0.6 %

The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 4.54 and a beta of 0.40. The company’s 50-day moving average price is $21.37 and its 200-day moving average price is $17.26.

360 DigiTech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 19th. Stockholders of record on Tuesday, April 11th will be given a dividend of $0.16 per share. The ex-dividend date is Monday, April 10th. This represents a $0.64 annualized dividend and a dividend yield of 3.79%. 360 DigiTech’s dividend payout ratio is presently 16.13%.

Institutional Trading of 360 DigiTech

A number of large investors have recently made changes to their positions in QFIN. OLP CAPITAL MANAGEMENT Ltd increased its stake in shares of 360 DigiTech by 125.4% during the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 9,708,223 shares of the company’s stock worth $197,659,000 after buying an additional 5,401,731 shares during the period. Norges Bank purchased a new position in 360 DigiTech in the fourth quarter valued at approximately $48,862,000. Greenwoods Asset Management Hong Kong Ltd. increased its stake in 360 DigiTech by 48.9% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,487,153 shares of the company’s stock valued at $70,998,000 after purchasing an additional 1,145,785 shares during the last quarter. Bank of America Corp DE increased its stake in 360 DigiTech by 101.4% in the fourth quarter. Bank of America Corp DE now owns 1,515,789 shares of the company’s stock valued at $30,861,000 after purchasing an additional 762,982 shares during the last quarter. Finally, TT International Asset Management LTD increased its stake in 360 DigiTech by 7.5% in the third quarter. TT International Asset Management LTD now owns 10,652,052 shares of the company’s stock valued at $136,559,000 after purchasing an additional 740,280 shares during the last quarter. 55.07% of the stock is currently owned by hedge funds and other institutional investors.

About 360 DigiTech

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360 DigiTech, Inc is a holding company, which engages in the provision of digital consumer finance platforms. It provides tailored online consumer finance products to prime, underserved borrowers funded primarily by its funding partners. The company proprietary technology platform supports full transaction lifecycle from credit application through settlement.