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Morgan Stanley (MS) disclosed in a regulatory filing Monday that it now holds a 5.1% stake in Daqo New Energy (DQ).

The banking giant said that as of May 14 it owned 16.4 million ordinary shares of Daqo, equivalent to 656,100 of the U.S.-traded American depositary shares, as each ADS represents 25 ordinary shares. That position makes it the Chinese firm's fourth-largest shareholder, according to S&P Capital IQ. Daqo, based in Chongqing, manufactures high-purity polysilicon for the solar photovoltaic industry.