Future FinTech Group Inc. (NASDAQ:FTFT) Short Interest Up 11.2% in March

Future FinTech Group Inc. (NASDAQ:FTFT) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 359,400 shares, a growth of 11.2% from the March 15th total of 323,200 shares. Based on an average trading volume of 129,300 shares, the days-to-cover ratio is presently 2.8 days. Approximately 3.3% of the shares of the company are sold short.

Institutional Trading of Future FinTech Group

A number of large investors have recently bought and sold shares of FTFT. State Street Corp increased its stake 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 purchasing an additional 33,974 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Future FinTech Group by 6,754.4% during the first quarter. JPMorgan Chase & Co. now owns 89,382 shares of the company’s stock worth $68,000 after buying an additional 88,078 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Future FinTech Group by 32.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 823,153 shares of the company’s stock worth $624,000 after buying an additional 201,095 shares during the last quarter. Institutional investors and hedge funds own 0.19% of the company’s stock.

Future FinTech Group Stock Performance

Shares of FTFT opened at $0.86 on Monday. The company’s 50 day simple moving average is $1.05 and its 200-day simple moving average is $1.03. Future FinTech Group has a 12-month low of $0.68 and a 12-month high of $2.60.

Future FinTech Group Company Profile

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.