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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 400,000 ordinary shares from its treasury at a price of 490.0p per share, maintaining its issued ordinary share capital at 502,664,868 shares. This transaction affects the voting rights calculation, now totaling 32,960,822, which shareholders can use to determine 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 operates within the investment management industry, focusing on providing investment trust services. It is managed by Janus Henderson Fund Management UK Limited and is known for its investment in a diversified portfolio of UK equities, aiming to provide long-term growth in income and capital.
Average Trading Volume: 927,734
Technical Sentiment Signal: Buy
Learn more about CTY stock on TipRanks’ Stock Analysis page.