City of London (LON:CTY) Shares Cross Below Fifty Day Moving Average – Here’s Why

City of London (LON:CTY) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 436.71 ($5.67) and traded as low as GBX 428.50 ($5.56). City of London shares last traded at GBX 430.19 ($5.59), with a volume of 448,695 shares changing hands.

City of London Stock Performance

The firm’s fifty day simple moving average is GBX 436.71 and its 200 day simple moving average is GBX 427.07. The company has a market capitalization of £2.13 billion, a PE ratio of 1,720.75 and a beta of 0.66. The company has a debt-to-equity ratio of 5.73, a current ratio of 3.34 and a quick ratio of 0.50.

City of London Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, October 24th will be given a GBX 5.25 ($0.07) dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a dividend yield of 1.2%. City of London’s dividend payout ratio (DPR) is currently 8,400.00%.

About City of London

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.