City of London Investment Trust Sells Treasury Shares, Updates Voting Rights

City of London Investment Trust PLC ( (GB:CTY) ) has provided an update.

City of London Investment Trust PLC announced the sale of 100,000 ordinary shares from its Treasury at a price of 499.5p per share. This transaction maintains the company’s issued ordinary share capital at 502,664,868 shares, with 7,872,762 held in Treasury without voting rights. The total voting rights now stand at 33,045,822, which shareholders can use to assess their interest in the company 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

City of London Investment Trust PLC operates in the investment management industry, focusing on providing investment trust services. It is managed by Janus Henderson Fund Management UK Limited and aims to deliver long-term growth and income through a diversified portfolio of UK equities.

Average Trading Volume: 784,115

Technical Sentiment Signal: Buy

Find detailed analytics on CTY stock on TipRanks’ Stock Analysis page.