Wells Fargo & Company MN raised its holdings in China Fund Inc (NYSE:CHN) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,087,315 shares of the investment management company’s stock after purchasing an additional 41,869 shares during the period. Wells Fargo & Company MN owned about 6.92% of China Fund worth $24,073,000 at the end of the most recent quarter.
Separately, City of London Investment Management Co. Ltd. lifted its position in China Fund by 6.9% during the fourth quarter. City of London Investment Management Co. Ltd. now owns 4,190,605 shares of the investment management company’s stock worth $90,789,000 after buying an additional 270,702 shares in the last quarter.
China Fund stock traded up $0.51 during trading on Friday, reaching $20.90. 19,700 shares of the company were exchanged, compared to its average volume of 26,073. China Fund Inc has a 52-week low of $18.45 and a 52-week high of $24.76.
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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