Trading was light with 1,261 shares changing hands by the end of trading on Friday. Volume was down 86.84% under the stocks average daily volume. Short traders are feeling a little more bearish on Latin American Discovery Fund, lately looking at the rise in short interest. The firm realized a rise in short interest of 253.80% between September 15, 2017 and September 29, 2017. Short interest increased from 1,751 to 6,195 over that period.
Additionally, here are a few investment firms who have increased or decreased their stake in (LDF). As of the end of the quarter 1607 Capital Partners, LLC had bought 600 shares growing its stake by 0.3%. The value of the investment in (LDF) decreased from $1,953,000 to $1,948,000 decreasing 0.3% quarter over quarter. As of quarter end Thomas J. Herzfeld Advisors, Inc. had disposed of a total of 800 shares trimming its holdings by 23.6%. The value of the investment in Latin American Discovery Fund, went from $36,000 to $27,000 a change of $9,000 since the last quarter.
Gramercy Funds Management LLC added to its stake by buying 31,878 shares an increase of 122.9% from 03/31/2017 to 06/30/2017. Gramercy Funds Management LLC claims 57,811 shares worth $606,000. The total value of its holdings increased 122.0%. Deschutes Portfolio Strategy, LLC grew its investment by buying 147,293 shares an increase of 1,449.6% as of 06/30/2017. Deschutes Portfolio Strategy, LLC currently owns 157,454 shares with a value of $1,650,000. The value of the position overall is up by 1,442.1%.
The company is trading down since yesterday’s close of 12.49. It is currently trading at $12.35 just a bit higher than the 50 day moving average of $12.14 and which is impressively higher than the 200 day moving average of $11.17. The 50 day moving average went up by +1.76% and the 200 day average went up by +10.53%.
The Latin American Discovery Fund, Inc. (the Fund), launched on November 12, 1991, is a non-diversified, closed-end management investment company. The Fund?s investment objective is long-term capital appreciation through investments primarily in equity securities of Latin American issuers. From time to time, the Fund also invests in debt securities issued or guaranteed by a Latin American government or governmental entity..