Insider Buying: Taiwan Fund Inc. (TWN) Major Shareholder Acquires 20,000 Shares of Stock
Taiwan Fund Inc. (NYSE:TWN) major shareholder City Of London Investment Grou purchased 20,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were acquired at an average cost of $21.21 per share, with a total value of $424,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Taiwan Fund Inc. (NYSE:TWN) traded up $0.03 on Wednesday, hitting $21.16. 7,750 shares of the stock traded hands, compared to its average volume of 8,635. Taiwan Fund Inc. has a 52 week low of $17.25 and a 52 week high of $22.25.
Several institutional investors and hedge funds have recently bought and sold shares of TWN. City of London Investment Management Co. Ltd. increased its position in shares of Taiwan Fund by 0.8% during the third quarter. City of London Investment Management Co. Ltd. now owns 3,508,359 shares of the company’s stock worth $72,272,000 after buying an additional 27,151 shares during the period. Karpus Management Inc. increased its position in shares of Taiwan Fund by 47.6% during the third quarter. Karpus Management Inc. now owns 156,564 shares of the company’s stock worth $3,222,000 after buying an additional 50,497 shares during the period. Gramercy Funds Management LLC increased its position in shares of Taiwan Fund by 21.5% during the fourth quarter. Gramercy Funds Management LLC now owns 174,359 shares of the company’s stock worth $3,639,000 after buying an additional 30,865 shares during the period. Bulldog Investors LLC increased its position in shares of Taiwan Fund by 154.0% during the fourth quarter. Bulldog Investors LLC now owns 297,297 shares of the company’s stock worth $6,211,000 after buying an additional 180,254 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. increased its position in shares of Taiwan Fund by 51.5% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 76,955 shares of the company’s stock worth $1,606,000 after buying an additional 26,151 shares during the period. Institutional investors own 67.21% of the company’s stock.
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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