Migdal Insurance & Financial Holdings Ltd. Has $70,000 Stock Holdings in Arqit Quantum Inc. (NASDAQ:ARQQ)

Migdal Insurance & Financial Holdings Ltd. cut its stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,513 shares of the company’s stock after selling 50,333 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.09% of Arqit Quantum worth $70,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. UBS Group AG raised its position in shares of Arqit Quantum by 438.1% during the third quarter. UBS Group AG now owns 5,273 shares of the company’s stock worth $30,000 after purchasing an additional 4,293 shares during the period. Two Sigma Investments LP purchased a new position in shares of Arqit Quantum during the fourth quarter valued at $47,000. Millennium Management LLC purchased a new position in shares of Arqit Quantum during the fourth quarter valued at $49,000. Natixis purchased a new position in shares of Arqit Quantum during the fourth quarter valued at $72,000. Finally, Alpine Global Management LLC purchased a new position in shares of Arqit Quantum during the fourth quarter valued at $81,000. 16.60% of the stock is owned by institutional investors and hedge funds.

Arqit Quantum Stock Performance

Shares of ARQQ stock opened at $0.50 on Friday. Arqit Quantum Inc. has a 1-year low of $0.39 and a 1-year high of $1.65. The stock’s fifty day simple moving average is $0.65 and its 200-day simple moving average is $0.55.

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.