City Of London Investment Group Plc
recently revealed that they own 31.8% of Thai Fund, Inc. (The) (NYSE:TTF) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, October 12th. The investor owns 3,681,605 shares of the stock worth about $39,724,518. The reporting parties listed on the disclosure included City of London Investment Group PLC, (CLIG) a company incorporated under the laws of England and Wales and City of London Investment Management Company Limited (CLIM), a company incorporated under the laws of England and Wales. The filing is available through the SEC website at this link.
provided the following explanation of their ownership:
The Reporting Persons reduced exposure to the Fund through the sale of Fund shares.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TTF. Proficio Capital Partners LLC raised its holdings in shares of Thai Fund, Inc. (The) by 30.2% during the second quarter. Proficio Capital Partners LLC now owns 73,712 shares of the company’s stock valued at $661,000 after purchasing an additional 17,110 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Thai Fund, Inc. (The) by 43.8% during the second quarter. Citigroup Inc. now owns 117,157 shares of the company’s stock valued at $1,016,000 after purchasing an additional 35,710 shares during the last quarter. Finally, Doliver Capital Advisors LP raised its holdings in shares of Thai Fund, Inc. (The) by 3.1% during the second quarter. Doliver Capital Advisors LP now owns 23,406 shares of the company’s stock valued at $203,000 after purchasing an additional 701 shares during the last quarter. 56.06% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder City Of London Investment Grou sold 134,287 shares of Thai Fund, Inc. (The) stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $10.52, for a total value of $1,412,699.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 182,439 shares of company stock valued at $1,841,908 over the last quarter.
Thai Fund, Inc. (NYSE:TTF) traded down 0.120% on Thursday, hitting $10.777. 15,823 shares of the stock traded hands. The firm has a 50-day moving average price of $9.59 and a 200-day moving average price of $8.95. Thai Fund, Inc. has a 12 month low of $6.86 and a 12 month high of $10.90.
About Thai Fund, Inc. (The)
The Thai Fund, Inc (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is long-term capital appreciation through investment primarily in equity securities of companies organized under the laws of the Kingdom of Thailand. The Fund seeks long-term capital appreciation and integrates top-down sector allocation and bottom-up stock selection with a growth bias.
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