Migdal Insurance & Financial Holdings Ltd. Sells 50,333 Shares of Arqit Quantum Inc. (NASDAQ:ARQQ)

Migdal Insurance & Financial Holdings Ltd. lessened its holdings in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) by 25.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 148,513 shares of the company’s stock after selling 50,333 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Arqit Quantum were worth $70,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ARQQ. UBS Group AG raised its stake in Arqit Quantum by 438.1% during the 3rd quarter. UBS Group AG now owns 5,273 shares of the company’s stock worth $30,000 after buying an additional 4,293 shares during the period. Bank of America Corp DE acquired a new stake in Arqit Quantum during the 1st quarter worth $34,000. Two Sigma Securities LLC acquired a new stake in Arqit Quantum during the 1st quarter worth $45,000. Two Sigma Investments LP acquired a new stake in Arqit Quantum during the 4th quarter worth $47,000. Finally, Millennium Management LLC acquired a new stake in Arqit Quantum during the 4th quarter worth $49,000. Institutional investors and hedge funds own 16.60% of the company’s stock.

Arqit Quantum Stock Performance

Shares of Arqit Quantum stock opened at $0.50 on Friday. The stock’s 50-day moving average is $0.65 and its 200-day moving average is $0.55. Arqit Quantum Inc. has a one year low of $0.39 and a one year high of $1.65.

About Arqit Quantum

Arqit Quantum Inc provides cybersecurity services through satellite and terrestrial platforms in the United Kingdom. It offers QuantumCloud, a Platform as a Service that creates unbreakable software encryption keys. The company also provides maintenance and support, and professional services. Arqit Quantum Inc is based in London, the United Kingdom.