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City of London Investment Trust PLC ( (GB:CTY) ) has issued an update.
City of London Investment Trust PLC announced the sale of 150,000 ordinary shares from its treasury at a price of 510.0p per share. This transaction maintains the company’s issued ordinary share capital at 502,664,868 shares, with 3,047,762 held in treasury. The total number of voting rights is now 33,367,489, which shareholders can use to determine their interest under the FCA’s Disclosure Guidance and Transparency 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 is a prominent entity in the investment trust industry, focusing on providing shareholders with long-term growth and income through a diversified portfolio of investments.
Average Trading Volume: 845,246
Technical Sentiment Signal: Buy
For a thorough assessment of CTY stock, go to TipRanks’ Stock Analysis page.