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City of London Investment Trust PLC ( (GB:CTY) ) has shared an update.
City of London Investment Trust PLC announced the sale of 325,000 ordinary shares from its treasury at a price of 515.0p per share. This transaction maintains the company’s issued ordinary share capital at 502,664,868 shares, with 2,322,762 held in treasury without voting rights. The total voting rights now stand at 33,415,822, which shareholders can use to assess their interest in the company under FCA’s rules.
Spark’s Take on GB:CTY Stock
According to Spark, TipRanks’ AI Analyst, GB:CTY is a Neutral.
City of London Investment Trust PLC benefits from strong financial performance and an attractive valuation, particularly in terms of its low P/E ratio and consistent dividend policy. However, technical indicators suggest potential price weakness, and limited cash flow transparency poses some risk. Recent corporate events show management’s confidence, but the technical analysis and cash flow opacity weigh more heavily on the overall score.
To see Spark’s full report on GB:CTY stock, click here.
More about City of London Investment Trust PLC
City of London Investment Trust PLC operates in the financial sector, focusing on investment management services. It is known for managing a diverse portfolio of investments, aiming to provide long-term capital growth and income for its shareholders.
Average Trading Volume: 896,448
Technical Sentiment Signal: Buy
For an in-depth examination of CTY stock, go to TipRanks’ Overview page.