The China Fund (NYSE:CHN) Trading Up 7.4% – What’s Next?

The China Fund, Inc. (NYSE:CHN) shares were up 7.4% on Monday . The stock traded as high as $13.06 and last traded at $12.85. Approximately 92,216 shares traded hands during mid-day trading, an increase of 193% from the average daily volume of 31,513 shares. The stock had previously closed at $11.97.

The China Fund Stock Up 7.4 %

The company’s fifty day simple moving average is $12.55 and its two-hundred day simple moving average is $10.99.

Institutional Investors Weigh In On The China Fund

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of The China Fund by 0.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,030,382 shares of the investment management company’s stock worth $10,427,000 after acquiring an additional 7,307 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of The China Fund during the third quarter worth $5,812,000. Shaker Financial Services LLC raised its holdings in shares of The China Fund by 45.4% during the second quarter. Shaker Financial Services LLC now owns 75,695 shares of the investment management company’s stock worth $766,000 after acquiring an additional 23,626 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of The China Fund during the second quarter worth $390,000.

The China Fund Company Profile

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.