CQS New City High Yield (LON:NCYF) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Shares of CQS New City High Yield (LON:NCYF) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 51.20 and traded as low as GBX 50.16. CQS New City High Yield shares last traded at GBX 50.50, with a volume of 1,544,861 shares traded.

CQS New City High Yield Price Performance

The company has a quick ratio of 2.43, a current ratio of 8.09 and a debt-to-equity ratio of 12.54. The firm has a market capitalization of £363.00 million, a price-to-earnings ratio of 14.52 and a beta of 0.08. The stock’s 50-day moving average price is GBX 51.20 and its 200 day moving average price is GBX 50.81.

Insider Activity

In other news, insider Caroline Hitch acquired 40,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average cost of GBX 52 per share, for a total transaction of £20,800. Also, insider Andrew Dann purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of GBX 52 per share, with a total value of £13,000. Insiders have bought a total of 121,000 shares of company stock valued at $6,292,000 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

CQS New City High Yield Company Profile

CQS New City High Yield Fund Limited aims to provide investors with a high dividend yield and the potential for capital growth by investing in high-yielding, fixed interest securities. These include, but are not limited to, preference shares, loan stocks, corporate bonds (convertible and/or redeemable) and government stocks. The Company also invests in equities and other income-yielding securities.

Since the Fund’s launch in 2007, the Board has increased the level of dividends paid every year.