Singapore-based Serenity Capital Management increased its stake in New Oriental Education & Technology Group (NYSE:EDU) by 411,380 shares during the third quarter, adding approximately $21.6 million to their position, according to an SEC filing on November 13. The fund now holds 656,878 EDU shares valued at $34.9 million, making it the fifth-largest holding. The company offers private educational services in China, generating revenue primarily through tuition fees for various education programs. Despite EDU shares being priced at $55.67, down 5.3% over the past year, the fund sees potential for long-term growth and profitability.

Read more at Yahoo Finance: After a 95% Crash, This China Education Stock Has Drawn a $35 Million Bet From One Institutional Investor