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The latest update is out from City of London Investment Trust PLC ( (GB:CTY) ).
The City of London Investment Trust PLC has issued 185,000 new fully paid ordinary shares of 25p each under its block listing facility at a price of 542.0p per share, increasing the total number of ordinary shares in issue to 506,042,106. Following this allotment, the company’s total voting rights now stand at 33,795,822 across ordinary shares, First Preference Stock and Preferred Ordinary Stock, a figure that shareholders should use as the new denominator when assessing and reporting notifiable holdings 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
The City of London Investment Trust PLC is a UK-listed investment trust managed by Janus Henderson Fund Management UK Limited, focusing on investing in a diversified portfolio of predominantly UK equities to provide long-term income and capital growth for its shareholders.
Average Trading Volume: 857,635
Technical Sentiment Signal: Buy
For a thorough assessment of CTY stock, go to TipRanks’ Stock Analysis page.