Banro Co. (BAA) Shares Gap Down to $0.15

Banro Co. (NYSEMKT:BAA) (TSE:BAA) gapped down prior to trading on Tuesday . The stock had previously closed at $0.15, but opened at $0.15. Banro shares last traded at $0.14, with a volume of 1600000 shares traded.

A hedge fund recently raised its stake in Banro stock. Gramercy Funds Management LLC lifted its holdings in Banro Co. (NYSEMKT:BAA) (TSE:BAA) by 302.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,417,409 shares of the mining company’s stock after purchasing an additional 25,123,159 shares during the quarter. Banro accounts for about 4.5% of Gramercy Funds Management LLC’s investment portfolio, making the stock its biggest holding. Gramercy Funds Management LLC owned 30.42% of Banro worth $24,061,000 as of its most recent SEC filing.

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About Banro

Banro Corp (Banro) is a Canada-based gold mining company. The Company, through its subsidiaries, holds interest in a number of gold properties, including Twangiza, Namoya, Lugushwa and Kamituga. The Company is focused on production from the Twangiza gold mine in the Democratic Republic of the Congo (DRC).

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