Taiwan Fund (NYSE:TWN) Hits New 12-Month High – Still a Buy?

Taiwan Fund, Inc. (The) (NYSE:TWN)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $100.79 and last traded at $100.25, with a volume of 37537 shares changing hands. The stock had previously closed at $93.93.

Taiwan Fund Stock Performance

The company’s 50-day simple moving average is $79.17 and its 200 day simple moving average is $65.21.

Insider Activity at Taiwan Fund

In other news, Director William C. Kirby bought 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 transaction, the director directly owned 2,886 shares in the company, valued at $187,301.40. This represents a -106.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Taiwan Fund

Several hedge funds have recently modified their holdings of TWN. Rock Creek Group LP lifted its position in shares of Taiwan Fund by 1,061.6% during the 3rd quarter. Rock Creek Group LP now owns 66,210 shares of the company’s stock worth $3,585,000 after buying an additional 60,510 shares in the last quarter. Karpus Management Inc. lifted its stake in Taiwan Fund by 86.4% in the second quarter. Karpus Management Inc. now owns 91,145 shares of the company’s stock valued at $4,084,000 after purchasing an additional 42,256 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Taiwan Fund by 3.8% in the fourth quarter. Lazard Asset Management LLC now owns 1,123,030 shares of the company’s stock valued at $59,947,000 after purchasing an additional 41,221 shares during the last quarter. Evolve Private Wealth LLC purchased a new position in Taiwan Fund in the fourth quarter valued at approximately $915,000. Finally, Quantedge Capital Pte Ltd lifted its stake in Taiwan Fund by 7.4% in the first quarter. Quantedge Capital Pte Ltd now owns 14,436 shares of the company’s stock valued at $949,000 after purchasing an additional 1,000 shares during the last quarter.

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.