City Of London Investment Group Plc Maintains Stake in Taiwan Fund, Inc. (The) (TWN)
City Of London Investment Group Plc
recently revealed that they own a 42.8% stake in Taiwan Fund, Inc. (The) (NYSE:TWN) in a Schedule 13D/A disclosure that was filed with the SEC on Monday, November 6th. The investor owns 3,508,359 shares of the stock worth approximately $76,141,214. 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 disclosure is available through EDGAR at this hyperlink.
provided the following explanation of their ownership:
The Reporting Persons sent the letter attached as Exhibit A to the Chairman of the Fund.
A number of other institutional investors and hedge funds also recently made changes to their positions in TWN. Doliver Capital Advisors LP lifted its stake in Taiwan Fund, Inc. (The) by 0.5% in the second quarter. Doliver Capital Advisors LP now owns 20,378 shares of the company’s stock valued at $403,000 after buying an additional 108 shares in the last quarter. Aberdeen Asset Management PLC UK bought a new position in Taiwan Fund, Inc. (The) in the second quarter valued at approximately $6,854,000. Finally, Wells Fargo & Company MN lifted its stake in Taiwan Fund, Inc. (The) by 0.4% in the second quarter. Wells Fargo & Company MN now owns 354,228 shares of the company’s stock valued at $7,010,000 after buying an additional 1,372 shares in the last quarter. 62.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Taiwan Fund, Inc. (TWN) traded up $0.08 on Monday, reaching $21.71. 10,361 shares of the company’s stock were exchanged, compared to its average volume of 11,359. Taiwan Fund, Inc. has a 1 year low of $15.50 and a 1 year high of $21.68.
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Taiwan Fund, Inc. (The) Profile
The Taiwan Fund, Inc is a diversified, closed-end management investment company. The Fund’s investment objective is to seek long-term capital appreciation through investment primarily in equity securities listed on the Taiwan Stock Exchange (TSE) in the Republic of China (ROC). The Fund invests in various sectors, including biotechnology and medical care; building material and construction; cement; chemical; communications and Internet; computer and peripheral equipment; electric and machinery; electronic parts and components; financial and insurance; foods; oil, gas and electricity; optoelectronic; plastics; semiconductor; shipping and transportation; textiles, and trading and consumers’ goods.
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