Daiwa Capital Downgrades Daqo New Energy: What You Need to Know

Recent Changes in Fund Sentiment

On October 9, 2024, Daiwa Capital revised its outlook for Daqo New Energy – Depositary Receipt (MUN:5DQ2) from Outperform to Hold. Currently, 209 funds or institutions report holding positions in Daqo New Energy, showing a decline of 54 owners or 20.53% from last quarter. The average portfolio weight across all funds in 5DQ2 is 0.31%, which is a rise of 4.85%. Over the past three months, total shares owned by institutions dropped by 10.70%, totaling 29,329K shares.

Insights from Other Shareholders

Continental General Insurance increased its shares held to 5,135K from 4,735K, marking a 7.79% rise. However, the firm reduced its portfolio allocation in 5DQ2 by 15.59% in the last quarter.

FIL has reduced its holdings slightly from 2,729K shares to 2,723K, a 0.24% decrease. Their allocation in 5DQ2 fell significantly by 71.12% during the same period.

Franklin Resources reported a decrease in shares from 2,730K to 2,672K, which is a 2.18% drop. The firm cut back its portfolio allocation in 5DQ2 by a substantial 91.76% last quarter.

Mackenzie Financial saw an increase in shares from 2,347K to 2,497K, representing a rise of 5.99%. Nonetheless, their portfolio allocation in 5DQ2 was reduced by 43.11%.

Invesco reported an increase in shares held from 1,305K to 1,627K, reflecting a 19.79% uplift. Still, the portfolio allocation in 5DQ2 decreased by 36.34% during the last quarter.

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