The stock of GCP Asset Backed Income Fund Ltd (LON:GABI) hit a new 52-week low and has GBX 92.40 target or 12.00% below today’s GBX 105.00 share price. The 5 months bearish chart indicates high risk for the GBX company. The 1-year low was reported on Nov, 8 by Barchart.com. If the GBX 92.40 price target is reached, the company will be worth GBX less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 1.87% or GBX 2 on November 8, hitting GBX 105. About 472,625 shares traded hands or 129.13% up from the average. GCP Asset Backed Income Fund Ltd (LON:GABI) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More news for GCP Asset Backed Income Fund Ltd (LON:GABI) were recently published by: Ft.com, which released: “Hunt for elusive income turns to niche investments” on September 30, 2016. Ft.com‘s article titled: “Alternatives to help spread the risk” and published on March 13, 2015 is yet another important article.
GCP Asset Backed Income Fund Limited, formerly Project Finance Investments Limited, is a closed-ended investment company. The company has a market cap of GBP. The Company’s investment objective is to generate risk-adjusted returns primarily through regular distributions and capital appreciation over the long term. It currently has negative earnings. The Firm focuses on investing in the form of medium to long term fixed or floating rate loans secured against cash flows and/or physical assets, which are predominantly based in the United Kingdom.