Manchester & London Investment Trust (LON:MNL) Shares Cross Below 50-Day Moving Average of $648.41

Shares of Manchester & London Investment Trust plc (LON:MNL) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 648.41 ($8.01) and traded as low as GBX 580.50 ($7.17). Manchester & London Investment Trust shares last traded at GBX 600 ($7.41), with a volume of 65,526 shares changing hands.

Manchester & London Investment Trust Price Performance

The stock has a market cap of £254.80 million, a P/E ratio of 873.24 and a beta of 0.46. The firm’s fifty day moving average price is GBX 648.41 and its two-hundred day moving average price is GBX 560.32.

Manchester & London Investment Trust Announces Dividend

The company also recently declared a dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Thursday, April 11th will be issued a GBX 7 ($0.09) dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a dividend yield of 1.05%. Manchester & London Investment Trust’s payout ratio is currently 1,971.83%.

Insider Transactions at Manchester & London Investment Trust

In other news, insider Daren John Morris sold 6,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of GBX 663 ($8.19), for a total value of £39,780 ($49,135.38). Insiders own 1.98% of the company’s stock.

Manchester & London Investment Trust Company Profile

Manchester & London Investment Trust plc is a close-ended fund launched and managed by M&L Capital Management Limited. The fund primarily invests in the public equity markets of the United Kingdom. It makes its investments across diversified sectors. The fund primarily invests in growth stocks of companies by employing a fundamental analysis.