Firsthand Technology Value Fund (SVVC) Presses Bet on Facebook Ahead of IPO
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Firsthand Technology Value Fund, Inc. (Nasdaq: SVVC) is on the move Monday as the company continues to press its bet on social media powerhouse Facebook (NYSE: FB) (Nasdaq: FB), ahead of its upcoming IPO.
The fund announced that it completed the purchase of an additional 330,000 shares of Facebook.
The transaction, which was initiated in January 2012 and closed late last week, more than doubles the size of the fund's largest holding. The fund currently holds 530,000 shares of the social networking company.
Shares of SVVC are up 4.7 percent mid-day to $25.40.
The fund announced that it completed the purchase of an additional 330,000 shares of Facebook.
The transaction, which was initiated in January 2012 and closed late last week, more than doubles the size of the fund's largest holding. The fund currently holds 530,000 shares of the social networking company.
Shares of SVVC are up 4.7 percent mid-day to $25.40.
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