Manchester & London (LON:MNL) Stock Passes Above 50 Day Moving Average – Here’s Why

Shares of Manchester & London (LON:MNL) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 669.11 ($8.74) and traded as high as GBX 710 ($9.27). Manchester & London shares last traded at GBX 709 ($9.26), with a volume of 24,664 shares trading hands.

Manchester & London Stock Up 0.9 %

The stock has a market capitalization of £284.31 million, a P/E ratio of 235.55 and a beta of 0.42. The firm’s 50-day simple moving average is GBX 669.11 and its 200 day simple moving average is GBX 687.43.

Manchester & London Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, November 8th. Investors of record on Thursday, October 3rd will be paid a dividend of GBX 7 ($0.09) per share. This represents a yield of 1.07%. The ex-dividend date is Thursday, October 3rd. Manchester & London’s dividend payout ratio is presently 465.12%.

Insider Buying and Selling

In related news, insider Daren John Morris acquired 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was bought at an average price of GBX 696 ($9.09) per share, for a total transaction of £27,840 ($36,354.14). In related news, insider Daren John Morris acquired 4,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were purchased at an average price of GBX 696 ($9.09) per share, for a total transaction of £27,840 ($36,354.14). Also, insider Daniel Wright bought 5,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was purchased at an average price of GBX 706 ($9.22) per share, with a total value of £35,300 ($46,095.59). 2.09% of the stock is currently owned by insiders.

About Manchester & London

Manchester & London Investment Trust plc is a close-ended fund launched and managed by M&L Capital Management Limited. The fund primarily invests in the public equity markets of the United Kingdom. It makes its investments across diversified sectors. The fund primarily invests in growth stocks of companies by employing a fundamental analysis.