SoftBank Group Corp. (OTCMKTS:SFTBF – Get Free Report) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $36.54 and traded as high as $41.0920. SoftBank Group shares last traded at $40.51, with a volume of 1,411 shares changing hands.
SoftBank Group Price Performance
The firm’s 50-day simple moving average is $36.72 and its 200-day simple moving average is $36.22.
Institutional Investors Weigh In On SoftBank Group
A hedge fund recently raised its stake in SoftBank Group stock. McMillan Office Inc. lifted its position in shares of SoftBank Group Corp. (OTCMKTS:SFTBF – Free Report) by 300.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the company’s stock after buying an additional 3,000 shares during the quarter. McMillan Office Inc.’s holdings in SoftBank Group were worth $95,000 at the end of the most recent quarter. 25.02% of the stock is owned by hedge funds and other institutional investors.
SoftBank Group Company Profile
SoftBank Group Corp. is a Japanese technology investment holding company founded in 1981 by Masayoshi Son. The company initially built its business through software distribution and telecommunications before expanding into internet, technology and global investment activities. Today, SoftBank Group focuses primarily on investing in companies and businesses positioned around artificial intelligence, information technology, communications and other emerging technologies.
The company manages investments through its Vision Funds and other investment vehicles, with interests spanning areas such as artificial intelligence, enterprise software, financial technology, robotics, e-commerce and semiconductors.
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