City of London Investment Trust Sells Treasury Shares

City of London Investment Trust PLC ( (GB:CTY) ) has shared an announcement.

City of London Investment Trust PLC announced the sale of 300,000 ordinary shares from its treasury at a price of 500.0p per share. This transaction maintains the company’s issued ordinary share capital at 502,664,868 shares, with 7,972,762 held in treasury without voting rights. The total voting rights now stand at 33,039,155, which shareholders can use to assess their notification requirements under the 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 is a financial entity involved in investment management, focusing on providing shareholders with long-term growth in income and capital by investing in a diversified portfolio of primarily UK equities.

Average Trading Volume: 778,033

Technical Sentiment Signal: Buy

Learn more about CTY stock on TipRanks’ Stock Analysis page.