Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down: Hong Kong & China Gas opened at $0.8680 after closing at $0.91, trading down about 1.9% with a volume of 259 shares; its 50-day and 200-day moving averages are $0.90 and $0.88 respectively.
• Institutional buying: Rhumbline Advisers increased its stake by 26.9% in Q1 to 131,441 shares (added 27,860 shares), worth about $107,000 per the latest SEC filing.
• Company profile: Towngas, founded in 1862, is a utility that produces and distributes town gas and LPG and provides related appliances, engineering and maintenance services to residential, commercial and industrial customers.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $0.91, but opened at $0.8680. Hong Kong & China Gas shares last traded at $0.8680, with a volume of 259 shares.

Hong Kong & China Gas Trading Down 1.9%

The firm has a fifty day moving average of $0.90 and a 200 day moving average of $0.88.

Institutional Trading of Hong Kong & China Gas

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers grew its position in Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,441 shares of the company's stock after acquiring an additional 27,860 shares during the quarter. Rhumbline Advisers' holdings in Hong Kong & China Gas were worth $107,000 as of its most recent SEC filing.

Hong Kong & China Gas Company Profile

The Hong Kong and China Gas Company Limited, commonly known as Towngas, is a long-established utility and energy services company founded in 1862. It is principally engaged in the production, distribution and sale of town gas and related energy products, serving residential, commercial and industrial customers. Towngas operates through an integrated model that covers gas production facilities, transmission and distribution networks, customer metering and billing, and after-sales services.

Core products and services include piped town gas for household and commercial use, liquefied petroleum gas (LPG) distribution, gas appliances and fittings, and engineering, installation and maintenance services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.