Morgan Stanley China A Share Fund (NYSE:CAF) Shares Cross Above 50 Day Moving Average – Here’s Why

Morgan Stanley China A Share Fund, Inc. (NYSE:CAF)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $18.33 and traded as high as $20.11. Morgan Stanley China A Share Fund shares last traded at $19.96, with a volume of 38,024 shares trading hands.

Morgan Stanley China A Share Fund Stock Performance

The stock’s 50-day moving average is $18.33 and its 200 day moving average is $17.77.

Institutional Investors Weigh In On Morgan Stanley China A Share Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of CAF. Cresset Asset Management LLC increased its holdings in shares of Morgan Stanley China A Share Fund by 10.4% during the second quarter. Cresset Asset Management LLC now owns 11,040 shares of the investment management company’s stock valued at $152,000 after acquiring an additional 1,040 shares in the last quarter. Susquehanna International Group LLP boosted its position in Morgan Stanley China A Share Fund by 17.7% in the third quarter. Susquehanna International Group LLP now owns 13,966 shares of the investment management company’s stock valued at $233,000 after buying an additional 2,105 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Morgan Stanley China A Share Fund in the first quarter valued at approximately $39,000. Osaic Holdings Inc. boosted its position in Morgan Stanley China A Share Fund by 39.6% in the second quarter. Osaic Holdings Inc. now owns 9,368 shares of the investment management company’s stock valued at $129,000 after buying an additional 2,658 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Morgan Stanley China A Share Fund by 10.7% in the first quarter. Royal Bank of Canada now owns 27,462 shares of the investment management company’s stock valued at $481,000 after buying an additional 2,660 shares during the last quarter.

Morgan Stanley China A Share Fund Company Profile

The Morgan Stanley China A Share Fund (NYSE: CAF) is a closed-end investment fund designed to provide U.S. investors with direct exposure to China A-share equities. Primarily focused on mainland China’s onshore stock market, the fund seeks total return through capital appreciation and current income by investing in a diversified portfolio of common stocks, depositary receipts, warrants and other equity-related securities of issuers domiciled in or conducting the majority of their business operations in China.

Launched in the mid-2000s, the fund was established to capitalize on China’s gradual opening of its domestic equity markets to foreign investors.