The paper discusses initial value problem of a Korteweg-de Vries type of fifth-order equation w t + w xxx − w xxxxx − n X j=1 a j w j w x = 0 , w(x, 0) = w 0 (x) posed on a periodic domain x ∈ [0, 2π] with periodic boundary conditions w ix (0, t) = w ix (2π, t), i = 0, 2, 3, 4 and an L 2-stabilizing feedback control law w x (2π, t) = αw x (0, t) + (1 − α)w xxx (0, t) where n is a fixed positive integer, a j , j = 1, 2, • • • , n, α are real constants, and |α| < 1. It is shown that for w 0 (x) ∈ H 1 α (0, 2π) with the boundary conditions described above, the problem is locally well-posed for w ∈ C([0, T ]; H 1 α (0, 2π)) with a conserved volume of w, [w] = R 2π 0 w(x, t)dx. Moreover, the solution with small initial condition exists globally and approaches to [w 0 (x)]/(2π) as t → +∞.