In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Asia Pacific Fund, Inc. (NYSE:APB) reported that City Of London Investment Group Plc. has picked up 4,649,247 of common stock as of 2017-03-22.
The acquisition brings the aggregate amount owned by City Of London Investment Group Plc. to a total of 4,649,247 representing a 45.0% stake in the company.
For those not familiar with the company, The Asia Pacific Fund, Inc. (the Fund) is a diversified, closed-end, management Investment Company. The Fund’s investment objective is to achieve long-term capital appreciation through investment of at least 80% of investable assets in equity securities of companies in the Asia Pacific countries. The Fund’s portfolio of investments includes banking, materials, consumer discretionary, real estate, industrials, insurance, utilities, consumer staples, semiconductors and semiconductor equipment, telecommunication services, real estate investment trusts and information technology. The Fund invests in various regions, including Hong Kong, Taiwan, Korea, China, Singapore, Malaysia, Thailand, Indonesia, Philippines, Sri Lanka, India and Vietnam. The Fund’s investment manager is Value Partners Hong Kong Limited.
A glance at Asia Pacific Fund, Inc. (NYSE:APB)’s key stats reveals a current market capitalization of 122.91 Million based on 10.34 Million shares outstanding and a price at last close of $11.99 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-09-01, Gunia picked up 2,300 at a purchase price of $9.97. This brings their total holding to 10,000 as of the date of the filing.
On the sell side, the most recent transaction saw Downey unload 2,400 shares at a sale price of $6.35. This brings their total holding to 14,600.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Asia Pacific Fund, Inc. (NYSE:APB) as things move forward to see if its progress aligns with these transactions.
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