The stock of NB Global Floating Rate Income Fund Ltd (LON:NBLS) hit a new 52-week high and has GBX 133.98 target or 40.00% above today’s GBX 95.70 share price. The 9 months bullish chart indicates low risk for the GBX 1.01 billion company. The 1-year high was reported on Sep, 14 by Barchart.com. If the GBX 133.98 price target is reached, the company will be worth GBX 404.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.95% or GBX 0.9 on September 13, hitting GBX 95.7. About 1.14M shares traded hands. NB Global Floating Rate Income Fund Ltd (LON:NBLS) has risen 4.21% since February 15, 2016 and is uptrending. It has underperformed by 12.28% the S&P500.
NB Global Floating Rate Income Fund Limited is a closed-ended investment company. The company has a market cap of 1.01 billion GBP. The Company’s investment objective is to provide its shareholders with regular dividends, at levels that are sustainable, whilst preserving the capital value of its investment portfolio. It currently has negative earnings. To pursue its investment objective, the Company invests mainly in floating rate senior secured loans issued in the United States Dollars, Sterling and Euros by primarily North American and European Union firms, partnerships and other business issuers.
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