The9 (NASDAQ:NCTY) Shares Cross Above 200-Day Moving Average – Time to Sell?

The9 Limited (NASDAQ:NCTY)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.16 and traded as high as $15.00. The9 shares last traded at $14.60, with a volume of 181,445 shares.

The9 Trading Up 11.0 %

The company has a fifty day simple moving average of $13.96 and a 200-day simple moving average of $12.16.

Hedge Funds Weigh In On The9

Several large investors have recently added to or reduced their stakes in NCTY. Headlands Technologies LLC bought a new position in shares of The9 in the fourth quarter worth about $67,000. Jump Financial LLC bought a new position in The9 in the 4th quarter worth approximately $230,000. Independent Advisor Alliance raised its position in shares of The9 by 17.5% during the third quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock valued at $110,000 after buying an additional 2,422 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of The9 in the fourth quarter worth $823,000. Hedge funds and other institutional investors own 0.54% of the company’s stock.

The9 Company Profile

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.