ABS Direct Equity Fund LLC Boosts Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• ABS Direct Equity Fund LLC significantly increased its investment in Full Truck Alliance Co. Ltd., raising its stake by 391.6% during the second quarter, making the stock its second largest holding.
• The company recently cut its annual dividend to $0.096 per share, with a payout ratio of 28.57% and a yield of 60.0%.
• Full Truck Alliance's stock is currently valued at $13.06 with a market cap of $13.65 billion and has a P/E ratio of 23.31.

ABS Direct Equity Fund LLC raised its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 391.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 496,480 shares of the company's stock after buying an additional 395,480 shares during the quarter. Full Truck Alliance makes up about 9.3% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 2nd largest holding. ABS Direct Equity Fund LLC's holdings in Full Truck Alliance were worth $5,863,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in YMM. Atlas Capital Advisors Inc. bought a new stake in Full Truck Alliance in the first quarter valued at $29,000. Brooklyn Investment Group lifted its stake in Full Truck Alliance by 495.4% in the first quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock valued at $31,000 after buying an additional 2,046 shares during the last quarter. US Bancorp DE bought a new stake in shares of Full Truck Alliance during the first quarter valued at about $40,000. Summit Securities Group LLC raised its stake in shares of Full Truck Alliance by 1,466.6% during the first quarter. Summit Securities Group LLC now owns 5,013 shares of the company's stock valued at $64,000 after purchasing an additional 4,693 shares in the last quarter. Finally, Wolverine Trading LLC bought a new stake in shares of Full Truck Alliance during the fourth quarter valued at about $115,000. 39.02% of the stock is currently owned by institutional investors.

Full Truck Alliance Stock Up 0.3%

Shares of NYSE YMM opened at $13.06 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $8.20 and a fifty-two week high of $14.02. The firm's 50-day simple moving average is $12.36 and its 200 day simple moving average is $12.08. The stock has a market cap of $13.65 billion, a P/E ratio of 23.31 and a beta of 0.21.

Full Truck Alliance Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 13th will be paid a dividend of $0.096 per share. This represents a dividend yield of 60.0%. The ex-dividend date is Friday, October 10th. Full Truck Alliance's payout ratio is currently 28.57%.

Full Truck Alliance Company Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.

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