CEMIG (NYSE:CIG) Shares Pass Above Two Hundred Day Moving Average of $2.36

Posted by Defense World Staff on Apr 9th, 2024

CEMIG (NYSE:CIG – Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.36 and traded as high as $2.57. CEMIG shares last traded at $2.55, with a volume of 1,682,257 shares traded.

CEMIG Price Performance

The stock’s 50-day simple moving average is $2.35 and its two-hundred day simple moving average is $2.36.

CEMIG Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, March 27th. Investors of record on Monday, April 1st were given a dividend of $0.0352 per share. The ex-dividend date was Thursday, March 28th. CEMIG’s dividend payout ratio is 41.31%.

Hedge Funds Weigh In On CEMIG

A hedge fund recently raised its stake in CEMIG stock. Marshall Wace LLP increased its stake in shares of CEMIG (NYSE:CIG – Free Report) by 66.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,533,362 shares of the utilities provider’s stock after acquiring an additional 1,410,006 shares during the quarter. Marshall Wace LLP owned about 0.16% of CEMIG worth $7,173,000 at the end of the most recent quarter.

About CEMIG

(Get Free Report)

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.