The stock of M & G High Income Investment Trust PLC (LON:MGHZ) hit a new 52-week high and has GBX 185.12 target or 54.00% above today’s GBX 120.21 share price. The 7 months bullish chart indicates low risk for the GBX 1.55B company. The 1-year high was reported on Nov, 4 by Barchart.com. If the GBX 185.12 price target is reached, the company will be worth GBX 837.00M 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 decreased 0.55% or GBX 0.67 on November 4, hitting GBX 120.21. About 30,555 shares traded hands or 112.82% up from the average. M & G High Income Investment Trust PLC (LON:MGHZ) has risen 7.75% since April 7, 2016 and is uptrending. It has outperformed by 6.66% the S&P500.
M&G High Income Investment Trust P.L.C. is an investment management company. The company has a market cap of 1.55 billion GBP. The Company’s investment objective is to achieve an above average and increasing income over an approximately 20-year life of the Company while at the same time seeking to achieve capital growth. It currently has negative earnings. The Firm is a split capital investment trust firm with three classes of share: zero dividend preference shares, income shares and capital shares.
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