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

Shares of Pan Pacific International Holdings Co. (OTCMKTS:DQJCY) gapped down prior to trading 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.

Pan Pacific International Stock Performance

The stock has a 50 day moving average price of $9.24 and a two-hundred day moving average price of $10.93.

Institutional Investors Weigh In On Pan Pacific International

A hedge fund recently raised its position in Pan Pacific International stock. Madison Asset Management LLC boosted its stake in shares of Pan Pacific International Holdings Co. (OTCMKTS:DQJCY) by 14.4% in the second quarter, according to its most recent disclosure 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.

Pan Pacific International Company Profile

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.