Taiwan Fund (NYSE:TWN) Sets New 12-Month High - Time to Buy?

Key Points

• Taiwan Fund (NYSE:TWN) hit a new 52-week high, trading as high as $99.77 and last at $95.96 during mid-day, with 50-day and 200-day moving averages of $70.51 and $61.60, respectively, indicating a strong recent rally.
• Director William C. Kirby made a notable insider purchase of 50,687 shares on Feb. 26 at an average price of $64.90 (about $3.29 million), signaling insider conviction.
• Multiple hedge funds and institutional managers (including Osaic, Evolve, Shaker, Rock Creek and Karpus) have recently increased or initiated positions in TWN, pointing to rising institutional interest.

Taiwan Fund, Inc. (The) (NYSE:TWN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $99.77 and last traded at $95.96, with a volume of 4467 shares. The stock had previously closed at $93.61.

Taiwan Fund Stock Performance

The company has a 50 day moving average of $70.51 and a 200 day moving average of $61.60.

Insider Activity

In other news, Director William C. Kirby purchased 50,687 shares of the company's stock in a transaction on Thursday, February 26th. The shares were purchased at an average price of $64.90 per share, with a total value of $3,289,586.30. Following the purchase, the director directly owned 2,886 shares of the company's stock, valued at $187,301.40. This trade represents a -106.04% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Taiwan Fund

Several hedge funds have recently modified their holdings of TWN. Osaic Holdings Inc. grew its holdings in shares of Taiwan Fund by 40.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,067 shares of the company's stock valued at $48,000 after acquiring an additional 309 shares in the last quarter. Evolve Private Wealth LLC acquired a new position in Taiwan Fund during the fourth quarter worth approximately $915,000. Shaker Financial Services LLC increased its position in Taiwan Fund by 15.2% during the third quarter. Shaker Financial Services LLC now owns 49,438 shares of the company's stock worth $2,676,000 after buying an additional 6,537 shares during the last quarter. Rock Creek Group LP boosted its holdings in shares of Taiwan Fund by 1,061.6% during the third quarter. Rock Creek Group LP now owns 66,210 shares of the company's stock worth $3,585,000 after acquiring an additional 60,510 shares during the period. Finally, Karpus Management Inc. boosted its holdings in shares of Taiwan Fund by 86.4% during the second quarter. Karpus Management Inc. now owns 91,145 shares of the company's stock worth $4,084,000 after acquiring an additional 42,256 shares during the period.

About Taiwan Fund

Taiwan Fund, Inc NYSE: TWN is a closed-end management investment company that offers U.S. investors direct exposure to the Taiwanese equity market. Listed on the New York Stock Exchange, the fund seeks capital appreciation through a diversified portfolio of equity securities issued primarily by companies based in Taiwan. Its strategy provides access to one of Asia's most dynamic markets, focusing on sectors such as technology, semiconductors, manufacturing, financial services and consumer goods.

The fund typically invests in common stocks of Taiwanese issuers traded on the Taiwan Stock Exchange, as well as equity-related instruments such as ADRs and foreign-listed securities of Taiwanese companies.

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.