The China Fund (NYSE:CHN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

The China Fund, Inc. (NYSE:CHN)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.91 and traded as high as $12.23. The China Fund shares last traded at $12.16, with a volume of 7,379 shares.

The China Fund Price Performance

The stock’s fifty day moving average price is $12.04 and its two-hundred day moving average price is $10.91.

Institutional Investors Weigh In On The China Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of The China Fund by 0.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,030,382 shares of the investment management company’s stock valued at $10,427,000 after purchasing an additional 7,307 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of The China Fund in the 2nd quarter valued at $390,000. Public Employees Retirement System of Ohio acquired a new stake in shares of The China Fund in the 3rd quarter valued at $5,812,000. Finally, Shaker Financial Services LLC raised its holdings in shares of The China Fund by 45.4% in the 2nd quarter. Shaker Financial Services LLC now owns 75,695 shares of the investment management company’s stock valued at $766,000 after purchasing an additional 23,626 shares in the last quarter.

About The China Fund

The China Fund, Inc is a closed ended equity mutual fund launched and managed by Allianz Global Investors U.S. LLC. It invests in the public equity markets of China that includes the People's Republic of China, Hong Kong, and Taiwan. The fund invests in stocks of companies operating across diversified sectors.