The9 (NASDAQ:NCTY) Shares Cross Above 200-Day Moving Average – Here’s Why

The9 Limited (NASDAQ:NCTY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.16 and traded as high as $15.00. The9 shares last traded at $14.60, with a volume of 181,445 shares traded.

The9 Price Performance

The firm’s 50-day moving average is $13.90 and its 200-day moving average is $12.21.

Hedge Funds Weigh In On The9

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in The9 in the 4th quarter worth approximately $67,000. Jump Financial LLC bought a new stake in shares of The9 in the 4th quarter worth approximately $230,000. Independent Advisor Alliance lifted its holdings in shares of The9 by 17.5% in the 3rd quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock worth $110,000 after acquiring an additional 2,422 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of The9 in the 4th quarter valued at $823,000. 0.54% of the stock is currently owned by hedge funds and other institutional investors.

About The9

The9 Limited operates as a cryptocurrency mining business in China, Eastern Europe, Asia, and North America. The company was formerly known as GameNow.net Limited and changed its name to The9 Limited in February 2004. The9 Limited was incorporated in 1999 and is headquartered in Shanghai, the People’s Republic of China.