25.   Seeming to be one of the few corporations diversified enough to survive the recession, many shareholders ignored the drop in third-quarter profits and invested even more heavily in Emco.

(A) Seeming to be

(B) As if

(C) In that they seemed

(D) Although it seemed

(E) Because it seemed to be

答案是：E

请问：E中的it指代哪个部分？谢谢

我觉得这里的it像是引词的用法，没有实际意义和指代，只起先行引导的作用。像是it is difficult to do sth.

那在it is difficult to do sth中，it 指代的是to do sth.吧。

那这句话要怎么翻译呢？请指教啊

我觉得那个Emco可能是一个corporation，就是说由于emco是少数几个业务多元化可以熬过经济衰退的公司，所以股民不管第三季度的利润下跌，反而加大投资。