City of London (LON:CTY) Shares Pass Above 50 Day Moving Average of $399.45

City of London (LON:CTY)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty 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.

City of London Stock Performance

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

City of London Increases Dividend

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

Insiders Place Their Bets

In other City of London news, insider Ominder Dhillon bought 1,500 shares of City of London stock in a transaction on Tuesday, February 27th. The shares were 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 company 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.