Pan Pacific International (OTCMKTS:DQJCY) Shares Gap Down – Here’s Why

Shares of Pan Pacific International Holdings Co. (OTCMKTS:DQJCY – Get Free Report) gapped down before the market opened on Monday. The stock had previously closed at $10.10, but opened at $9.4501. Pan Pacific International shares last traded at $9.75, with a volume of 382 shares trading hands.

Pan Pacific International Price Performance

The company has a 50-day moving average price of $9.24 and a 200-day moving average price of $10.93.

Hedge Funds Weigh In On Pan Pacific International

An institutional investor recently raised its position in Pan Pacific International stock. Madison Asset Management LLC boosted its holdings in shares of Pan Pacific International Holdings Co. (OTCMKTS:DQJCY – Free Report) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,902 shares of the company’s stock after purchasing an additional 27,240 shares during the quarter. Madison Asset Management LLC’s holdings in Pan Pacific International were worth $2,191,000 at the end of the most recent quarter.

About Pan Pacific International

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Pan Pacific International Holdings operates discount stores and other retail businesses, primarily in Japan. Its best-known chain is Don Quijote, which sells a broad range of products, including groceries, household goods, clothing, cosmetics, electronics and other daily necessities. The company also operates formats such as MEGA Don Quijote and supermarkets under the UNY name.

Founded in Japan in 1980, the company has expanded beyond its domestic market through stores in other parts of Asia and in the United States.

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