The9 Limited (NASDAQ:NCTY) shot up 6.1% during mid-day trading on Tuesday . The company traded as high as $1.28 and last traded at $1.21, 159,500 shares were traded during mid-day trading. A decline of 53% from the average session volume of 338,352 shares. The stock had previously closed at $1.14.
The stock has a fifty day moving average of $1.05 and a 200-day moving average of $1.41.
An institutional investor recently bought a new position in The9 stock. Morgan Stanley bought a new position in The9 Limited (NASDAQ:NCTY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 71,597 shares of the technology company’s stock, valued at approximately $89,000. Morgan Stanley owned about 0.24% of The9 as of its most recent SEC filing. 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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