Canadian General Investments (TSE:CGI) Stock Passes Above 50 Day Moving Average – Here’s Why

Shares of Canadian General Investments (TSE:CGI) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$51.97 and traded as high as C$53.75. Canadian General Investments shares last traded at C$53.70, with a volume of 5,807 shares changing hands.

Canadian General Investments Stock Up 0.5%

The firm has a 50 day moving average price of C$52.00 and a 200-day moving average price of C$50.62. The company has a current ratio of 9.42, a quick ratio of 7.44 and a debt-to-equity ratio of 11.89. The firm has a market cap of C$1.13 billion, a PE ratio of 4.35 and a beta of 1.10.

Insiders Place Their Bets

In other news, Director Clive William Robinson bought 750 shares of Canadian General Investments stock in a transaction that occurred on Friday, July 17th. The shares were purchased at an average price of C$51.25 per share, with a total value of C$38,437.50. Following the completion of the acquisition, the director directly owned 7,500 shares in the company, valued at C$384,375. The trade was a 11.11% increase in their ownership of the stock. 16.00% of the stock is currently owned by company insiders.

About Canadian General Investments

A closed-end equity fund focused on medium to long-term capital appreciation and dividends in Canadian corporations. The Manager utilizes a bottom-up investment strategy in an effort to achieve the Corporations investment objectives. With this type of investment strategy, the Manager first seeks individual companies with attractive investment potential, then proceeds to consider the larger industry, economic and global trends affecting those companies. The Manager attempts to mitigate market risk by maintaining a well-diversified portfolio of primarily publicly-listed Canadian equities with individual positions generally not exceeding 5 percent of the total investment portfolio.