Matisse Capital cut its holdings in China Fund Inc (NYSE:CHN) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 235,435 shares of the investment management company’s stock after selling 12,500 shares during the quarter. China Fund comprises 2.3% of Matisse Capital’s holdings, making the stock its 11th largest position. Matisse Capital owned 1.50% of China Fund worth $5,097,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Karpus Management Inc. raised its stake in China Fund by 8.6% in the third quarter. Karpus Management Inc. now owns 270,174 shares of the investment management company’s stock valued at $5,498,000 after buying an additional 21,421 shares during the last quarter. Wells Fargo & Company MN raised its stake in China Fund by 4.3% in the third quarter. Wells Fargo & Company MN now owns 1,052,033 shares of the investment management company’s stock valued at $21,409,000 after buying an additional 43,169 shares during the last quarter. City of London Investment Management Co. Ltd. raised its stake in China Fund by 0.3% in the third quarter. City of London Investment Management Co. Ltd. now owns 3,919,903 shares of the investment management company’s stock valued at $80,044,000 after buying an additional 10,000 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in China Fund by 281.6% in the second quarter. Royal Bank of Canada now owns 9,300 shares of the investment management company’s stock valued at $174,000 after buying an additional 6,863 shares during the last quarter.
China Fund Inc (NYSE CHN) traded up $0.62 during trading on Wednesday, reaching $22.12. The company’s stock had a trading volume of 14,858 shares, compared to its average volume of 28,738. China Fund Inc has a 52 week low of $15.96 and a 52 week high of $24.76. The stock has a market capitalization of $338.04, a PE ratio of 4.30 and a beta of 1.00.
In other China Fund news, major shareholder City Of London Investment Grou purchased 4,667 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was bought at an average cost of $22.04 per share, for a total transaction of $102,860.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders acquired 169,001 shares of company stock valued at $3,707,037.
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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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