Nestlé (OTCMKTS:NSRGF) Shares Down 0.8% – What’s Next?

Nestlé S.A. (OTCMKTS:NSRGF) shares dropped 0.8% during mid-day trading on Wednesday . The company traded as low as $97.25 and last traded at $97.90. Approximately 9,983 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 19,462 shares. The stock had previously closed at $98.67.

Nestlé Stock Performance

The company has a 50 day moving average price of $96.55 and a 200 day moving average price of $96.86.

Hedge Funds Weigh In On Nestlé

A hedge fund recently bought a new stake in Nestlé stock. Stonebridge Capital Management Inc. bought a new stake in Nestlé S.A. (OTCMKTS:NSRGF) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $202,000. Institutional investors and hedge funds own 27.22% of the company’s stock.

Nestlé Company Profile

Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone North America; Zone Europe; Zone Asia, Oceania, and Africa; Zone Latin America; Zone Greater China; Nespresso; and Nestlé Health Science segments. It offers baby foods under the Cerelac, Gerber, Nido, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, Vittel, Buxton, Erikli, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Smarties, Aero, Nestlé Les Recettes de l'Atelier, Milkybar, Baci Perugina, Quality Street, and Fitness brands.