SunCar Technology Group (NASDAQ:SDA) Stock Price Down 4.1% – Here’s Why

Shares of SunCar Technology Group Inc. (NASDAQ:SDA) were down 4.1% during mid-day trading on Friday . The company traded as low as $9.74 and last traded at $9.74. Approximately 185,017 shares changed hands during trading, a decline of 36% from the average daily volume of 287,227 shares. The stock had previously closed at $10.16.

SunCar Technology Group Stock Performance

The stock has a 50-day simple moving average of $10.02 and a 200-day simple moving average of $8.90.

Institutional Trading of SunCar Technology Group

A hedge fund recently raised its stake in SunCar Technology Group stock. XTX Topco Ltd lifted its position in SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,186 shares of the company’s stock after buying an additional 3,596 shares during the period. XTX Topco Ltd’s holdings in SunCar Technology Group were worth $166,000 at the end of the most recent reporting period. 0.26% of the stock is currently owned by institutional investors.

About SunCar Technology Group

SunCar Technology Group Inc, through its subsidiaries, provides digitalized automotive after-sales service and online insurance intermediation services in the People's Republic of China. It operates through three segments: Insurance Intermediation Business; Automotive After-Sales Business; and Technology Business.