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

Key Points

• Shares of Hong Kong & China Gas gapped up premarket, opening at $0.8820 from a $0.84 close and last trading at $0.8750—about a 4.8% move on light volume (514 shares).
• Rhumbline Advisers increased its stake by 26.9% in Q1 to 131,441 shares, worth roughly $107,000 at the end of the reporting period.
• Towngas (The Hong Kong & China Gas Company) is a long-established utility (founded 1862) that produces and distributes town gas, LPG and related energy services to residential, commercial and industrial customers.

Shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $0.84, but opened at $0.8820. Hong Kong & China Gas shares last traded at $0.8750, with a volume of 514 shares trading hands.

Hong Kong & China Gas Trading Up 4.8%

The stock's fifty day moving average price is $0.90 and its 200-day moving average price is $0.88.

Institutional Investors Weigh In On Hong Kong & China Gas

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers raised its stake 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 13F filing with the SEC. The firm owned 131,441 shares of the company's stock after buying an additional 27,860 shares during the quarter. Rhumbline Advisers' holdings in Hong Kong & China Gas were worth $107,000 at the end of the most recent reporting period.

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.

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