VirnetX (NYSE:VHC) Stock Crosses Above 200-Day Moving Average – Here’s Why

VirnetX Holding Corp (NYSE:VHC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.25 and traded as high as $18.25. VirnetX shares last traded at $17.29, with a volume of 26,373 shares.

VirnetX Trading Down 3.9%

The firm has a fifty day moving average price of $20.91 and a 200 day moving average price of $17.25. The firm has a market cap of $73.85 million, a PE ratio of -3.60 and a beta of 2.09.

Hedge Funds Weigh In On VirnetX

Several institutional investors and hedge funds have recently bought and sold shares of VHC. Vanguard Group Inc. raised its position in shares of VirnetX by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 172,337 shares of the technology company’s stock valued at $2,947,000 after buying an additional 4,815 shares during the period. Csenge Advisory Group grew its position in VirnetX by 44.1% in the third quarter. Csenge Advisory Group now owns 59,968 shares of the technology company’s stock worth $1,079,000 after acquiring an additional 18,353 shares during the period. Geode Capital Management LLC increased its stake in VirnetX by 4.2% during the second quarter. Geode Capital Management LLC now owns 32,357 shares of the technology company’s stock worth $351,000 after acquiring an additional 1,318 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in VirnetX by 9,676.5% during the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the technology company’s stock worth $85,000 after acquiring an additional 4,935 shares during the last quarter. 10.37% of the stock is currently owned by institutional investors and hedge funds.

About VirnetX

VirnetX Holding Corporation (NYSE: VHC) is a patent licensing and technology development company specializing in secure communications and networking. The company’s core business centers on the design, development and monetization of patented software solutions that enable secure domain name system (SDNS) protocols, end-to-end encryption, and real-time collaboration across voice, video and messaging services.

At the heart of VirnetX’s offerings is its proprietary “GABRIEL” technology, an SDNS platform that underpins encrypted voice-over-IP (VoIP), video conferencing and secure messaging applications.