The stock of City of London Investment Trust plc (LON:CTYA) hit a new 52-week high and has GBX 116.61 target or 69.00% above today’s GBX 69.00 share price. The 8 months bullish chart indicates low risk for the GBX 1.42B company. The 1-year high was reported on Nov, 15 by Barchart.com. If the GBX 116.61 price target is reached, the company will be worth GBX 979.80M 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 27.37% or GBX 26 on November 15, hitting GBX 69. It is down 0.00% since April 13, 2016 and is . It has underperformed by 3.93% the S&P500.
Another recent and important City of London Investment Trust plc (LON:CTYA) news was published by Fool.Co.Uk which published an article titled: “3 top long-term ISA holdings: GlaxoSmithKline plc, Unilever plc and City of …” on June 07, 2016.
The City of London Investment Trust plc is a United Kingdom investment trust company. The company has a market cap of 1.42 billion GBP. The Company’s objective is to provide long-term growth in income and capital, principally by investment in equities listed on the London Stock Exchange. It has a 5.83 P/E ratio. The Firm will mainly invest in equities and in debt securities, such as convertibles, corporate bonds or government debt.
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