The9 Limited (NASDAQ:NCTY) shares rose 6.1% during trading on Tuesday . The stock traded as high as $1.28 and last traded at $1.21, approximately 159,500 shares changed hands during mid-day trading. A decline of 53% from the average daily volume of 338,352 shares. The stock had previously closed at $1.14.
The company has a 50 day moving average price of $1.06 and a 200 day moving average price of $1.40.
A hedge fund recently bought a new stake in The9 stock. Morgan Stanley bought a new stake in The9 Limited (NASDAQ:NCTY) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 71,597 shares of the technology company’s stock, valued at approximately $89,000. Morgan Stanley owned 0.24% of The9 at the end of the most recent reporting period. Institutional investors own 0.34% of the company’s stock.
The9 Limited, together with its subsidiaries, operates as an online game developer and operator in the People's Republic of China. The company offers online games, including massively multiplayer online games, mobile games, Web games, and TV games. It also provides training services, such as smartphone application programming training services to college students.
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