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An announcement from City of London Investment Trust PLC ( (GB:CTY) ) is now available.
The City of London Investment Trust PLC has announced the sale of 475,000 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 7,197,762 held in treasury without voting rights. The total number of voting rights now stands at 33,090,822, which shareholders can use to determine their notification requirements under FCA 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
Average Trading Volume: 770,063
Technical Sentiment Signal: Buy
Find detailed analytics on CTY stock on TipRanks’ Stock Analysis page.