Lenovo Group (OTCMKTS:LNVGF) Trading 8.5% Higher – Here’s Why

Lenovo Group Limited (OTCMKTS:LNVGF)’s stock price traded up 8.5% during mid-day trading on Tuesday . The company traded as high as $1.30 and last traded at $1.2370. 12,668 shares changed hands during trading, a decline of 83% from the average session volume of 73,781 shares. The stock had previously closed at $1.14.

Lenovo Group Trading Up 8.5%

The company has a fifty day moving average of $1.24 and a 200-day moving average of $1.36.

Hedge Funds Weigh In On Lenovo Group

A hedge fund recently bought a new stake in Lenovo Group stock. Boston Common Asset Management LLC acquired a new stake in shares of Lenovo Group Limited (OTCMKTS:LNVGF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,287,184 shares of the company’s stock, valued at approximately $2,745,000. 23.25% of the stock is owned by institutional investors and hedge funds.

About Lenovo Group

Lenovo Group (OTCMKTS:LNVGF) is a multinational technology company that designs, develops, manufactures and markets a broad range of computing and smart devices. Founded in Beijing in 1984 as Legend, the company adopted the Lenovo name in 2004 and has since grown into one of the world’s largest PC vendors. In 2005, Lenovo completed its landmark acquisition of IBM’s personal computer business, significantly expanding its global footprint and product portfolio.

The company’s core business activities include the production of laptops, desktops, workstations and servers, along with complementary products such as tablets, smartphones, electronic storage devices and smart televisions.