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City of London Investment Trust PLC ( (GB:CTY) ) has issued an announcement.
City of London Investment Trust PLC announced the sale of 100,000 ordinary shares from its treasury at a price of 505.5p per share. This transaction maintains the company’s issued ordinary share capital at 502,664,868 shares, with 7,672,762 held in treasury without voting rights. The total number of voting rights in the company is now 33,059,155, which shareholders can use to determine their notification requirements 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 operates in the financial services industry, focusing on investment management. It primarily offers investment trust services, catering to a diverse range of stakeholders interested in capital growth and income generation.
Average Trading Volume: 775,340
Technical Sentiment Signal: Buy
For an in-depth examination of CTY stock, go to TipRanks’ Overview page.