City of London (LON:CTY) Shares Pass Above Fifty Day Moving Average of $399.45

City of London (LON:CTY)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 399.45 ($4.93) and traded as high as GBX 413 ($5.10). City of London shares last traded at GBX 409.50 ($5.06), with a volume of 606,187 shares changing hands.

City of London Trading Up 0.6 %

The business’s fifty day moving average is GBX 399.45 and its 200-day moving average is GBX 396.79. The stock has a market capitalization of £2.06 billion, a PE ratio of 1,638.00 and a beta of 0.67. The company has a quick ratio of 0.50, a current ratio of 3.34 and a debt-to-equity ratio of 5.73.

City of London Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, April 25th will be paid a dividend of GBX 5.25 ($0.06) per share. This is an increase from City of London’s previous dividend of $5.05. This represents a yield of 1.3%. The ex-dividend date of this dividend is Thursday, April 25th. City of London’s payout ratio is currently 8,000.00%.

Insiders Place Their Bets

In other City of London news, insider Ominder Dhillon acquired 1,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average cost of GBX 393 ($4.85) per share, for a total transaction of £5,895 ($7,281.37). 1.47% of the stock is owned by insiders.

City of London Company Profile

The City of London Investment Trust plc is a closed-ended equity mutual fund launched and managed by Henderson Investment Funds Limited. It is co-managed by Henderson Global Investors Limited. The fund invests in the public equity markets of the United Kingdom. It seeks to invest in stocks of companies operating across diversified sectors.