Shaker Financial Services LLC lifted its holdings in China Fund Inc (NYSE:CHN) by 59.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,811 shares of the investment management company’s stock after acquiring an additional 16,000 shares during the period. Shaker Financial Services LLC owned approximately 0.27% of China Fund worth $948,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Gramercy Funds Management LLC raised its holdings in shares of China Fund by 29.6% during the fourth quarter. Gramercy Funds Management LLC now owns 186,086 shares of the investment management company’s stock worth $4,029,000 after purchasing an additional 42,500 shares during the period. Bulldog Investors LLC increased its holdings in shares of China Fund by 99.3% in the 4th quarter. Bulldog Investors LLC now owns 700,385 shares of the investment management company’s stock worth $15,163,000 after acquiring an additional 349,022 shares during the period. City of London Investment Management Co. Ltd. increased its stake in China Fund by 6.9% during the 4th quarter. City of London Investment Management Co. Ltd. now owns 4,190,605 shares of the investment management company’s stock valued at $90,789,000 after buying an additional 270,702 shares during the period. Finally, Wells Fargo & Company MN increased its stake in China Fund by 4.0% during the 1st quarter. Wells Fargo & Company MN now owns 1,087,315 shares of the investment management company’s stock valued at $24,073,000 after buying an additional 41,869 shares during the period.
China Fund stock opened at $22.01 on Monday. China Fund Inc has a 52 week low of $17.76 and a 52 week high of $24.76.
In other news, major shareholder City Of London Investment Grou bought 20,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was bought at an average cost of $22.35 per share, for a total transaction of $447,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have bought 56,456 shares of company stock valued at $1,260,693.
China Fund Company Profile
The China Fund, Inc is a non-diversified, closed-end management investment company. The Fund’s investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in equity securities of companies for which the principal securities trading market is the People’s Republic of China (China); of companies for which the principal securities trading market is outside of China, or constituting direct equity investments in companies organized outside of China, that in both cases derive over 50% of their revenues from goods and services sold or produced, or have approximately 50% of their assets, in China, and constituting direct equity investments in companies organized in China.
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