The9 (NASDAQ:NCTY) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• The9 Limited's stock price crossed above its 200-day moving average of $10.13, reaching a high of $11.45 before last trading at $10.62.
• A hedge fund, Headlands Technologies LLC, increased its stake in The9 by 19.3%, acquiring an additional 894 shares and owning approximately 0.06% of the company.
• The9 Limited operates as a cryptocurrency mining business with operations in China, Eastern Europe, Asia, and North America.

The9 Limited (NASDAQ:NCTY - )'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.13 and traded as high as $11.45. The9 shares last traded at $10.62, with a volume of 74,754 shares.

The9 Trading Down 0.1%

The company's 50 day moving average price is $9.23 and its 200 day moving average price is $10.13.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in The9 stock. Headlands Technologies LLC boosted its holdings in shares of The9 Limited (NASDAQ:NCTY - Free Report) by 19.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,524 shares of the technology company's stock after purchasing an additional 894 shares during the period. Headlands Technologies LLC owned about 0.06% of The9 worth $83,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.54% of the stock is owned by hedge funds and other institutional investors.

About The9

The9 Limited operates as a cryptocurrency mining business in China, Eastern Europe, Asia, and North America. The company was formerly known as GameNow.net Limited and changed its name to The9 Limited in February 2004. The9 Limited was incorporated in 1999 and is headquartered in Shanghai, the People's Republic of China.

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