Allianz Technology Trust (LON:ATT) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Allianz Technology Trust (LON:ATT) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 712.87 and traded as high as GBX 720. Allianz Technology Trust shares last traded at GBX 720, with a volume of 3,235,016 shares changing hands.

Allianz Technology Trust Stock Performance

The business has a 50-day simple moving average of GBX 712.87 and a two-hundred day simple moving average of GBX 603.94. The company has a market capitalization of £2.43 billion, a price-to-earnings ratio of 6.58 and a beta of 0.68.

Allianz Technology Trust Company Profile

Allianz Technology Trust is managed by the highly experienced AllianzGI Global Technology team based in San Francisco. The team benefits from its close proximity to Silicon Valley where many of the world’s key technology companies are headquartered.

The Trust is a UK listed closed-end fund which aims to achieve long-term capital growth by investing principally in technology companies globally. The team looks to identify major trends ahead of the crowd and invest in stocks that have the potential to be tomorrow’s Apple, Google or Microsoft.

The Trust invests in mid to large technology companies.