City of London Investment Management Co. Ltd. lowered its stake in Asia Pacific Fund, Inc. (The) common stock (NYSE:APB) by 1.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,584,268 shares of the investment management company’s stock after selling 64,979 shares during the period. Asia Pacific Fund, Inc. (The) common stock accounts for approximately 5.2% of City of London Investment Management Co. Ltd.’s holdings, making the stock its 7th largest holding. City of London Investment Management Co. Ltd. owned 0.44% of Asia Pacific Fund, Inc. (The) common stock worth $64,111,000 as of its most recent filing with the Securities and Exchange Commission.
Separately, Commonwealth Equity Services LLC purchased a new position in Asia Pacific Fund, Inc. (The) common stock in the first quarter worth about $152,000. 72.93% of the stock is owned by hedge funds and other institutional investors.
APB traded up $0.03 on Thursday, hitting $13.63. The company had a trading volume of 26,236 shares, compared to its average volume of 8,374. Asia Pacific Fund, Inc. has a 12-month low of $12.95 and a 12-month high of $15.70.
In related news, major shareholder City Of London Investment Grou sold 64,979 shares of Asia Pacific Fund, Inc. (The) common stock stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $14.52, for a total value of $943,495.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 60.29% of the company’s stock.
Asia Pacific Fund, Inc. (The) common stock Profile
The Asia Pacific Fund, Inc operates as a closed-end investment fund/investment trust. Its objective is to achieve long-term capital appreciation through investment of investable assets in equity securities of companies in the Asia Pacific countries. The company was founded in May 1987 and is headquartered in New York, NY.
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Want to see what other hedge funds are holding APB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Asia Pacific Fund, Inc. (The) common stock (NYSE:APB).
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