7. UP Fintech Holding Limited (NASDAQ:TIGR)
Share Price as of July 18: $4.24
Number of Hedge Fund Holders: 13
UP Fintech (NASDAQ:TIGR) is a China-based company that runs an online brokerage platform for global investors. The company’s mobile and online trading platform enables users to trade in equities, options, warrants, and other financial instruments across multiple exchanges. The company’s services include trade order placement and execution, account management, cryptocurrency trading services, wealth management services, and more. The company caters to a range of clients, including individual investors, corporate clientele, and institutional partners.
UP Fintech (NASDAQ:TIGR) has established itself in the fintech sector through its commitment to better user experience and technological innovation. The company’s continuous investment in research and development has solidified its position in the market, which allows it to introduce cutting-edge features that cater to diverse investor needs. Throughout Q4 of 2023, the company expanded its footprint by launching localized features tailored to different markets.
UP Fintech (NASDAQ:TIGR) made significant strides in its operations across Singapore and Hong Kong in Q1. In Singapore, the launch of the Tiger Vault debit card, in partnership with a local licensee, enables users to earn fractional shares through everyday spending, linking consumption directly with stock ownership. Additionally, the company introduced cash boost accounts tailored to Singapore’s credit system, which furthers accessibility to investment opportunities without requiring an initial deposit.
In Hong Kong, UP Fintech (NASDAQ:TIGR) upgraded its regulatory framework by expanding its Type 1 license to include virtual asset billing services for professional investors. This strategic move facilitated the launch of cryptocurrency trading services in April, establishing the company as the first mainstream online brokerage in Hong Kong to offer such services. Furthermore, the company obtained a Type 9 license to extend its offerings to include asset management services, which cater to the evolving needs of investors.
Moreover, UP Fintech (NASDAQ:TIGR) introduced enhancements aimed at improving trading efficiency and risk management. The introduction of overnight trading capabilities allows users across the Asia Pacific region to trade US stocks and ETFs during local market hours, which allows the company to capture more market opportunities and optimize trading strategies. Additionally, improvements to auction trading capabilities, such as US option early access and do not access equips, enable clients to navigate volatility risks associated with in-the-money options and address liquidity challenges effectively.
As of Q1, UP Fintech (NASDAQ:TIGR) was held by 13 hedge funds in the first quarter and the stakes amounted to $19.43 million. GLG Partners is the top shareholder of the company and has a position worth $9.6 million as of Q1.
