The9 Limited (NASDAQ:NCTY) Short Interest Update

The9 Limited (NASDAQ:NCTY - Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 243,900 shares, an increase of 19.9% from the February 13th total of 203,500 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 119,700 shares, the days-to-cover ratio is presently 2.0 days.

Hedge Funds Weigh In On The9

Several large investors have recently bought and sold shares of NCTY. Independent Advisor Alliance raised its stake in shares of The9 by 17.5% in the 3rd 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 in the last quarter. Headlands Technologies LLC acquired a new position in shares of The9 in the 4th quarter valued at $67,000. Jump Financial LLC acquired a new position in shares of The9 in the 4th quarter valued at $230,000. Finally, Marshall Wace LLP acquired a new position in shares of The9 in the 4th quarter valued at $823,000. 0.54% of the stock is currently owned by institutional investors and hedge funds.

The9 Price Performance

NASDAQ:NCTY traded up $0.28 during trading hours on Friday, hitting $12.29. 105,513 shares of the company traded hands, compared to its average volume of 72,533. The9 has a twelve month low of $4.90 and a twelve month high of $20.59. The firm has a 50-day moving average of $14.11 and a 200 day moving average of $11.98.

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.