Allianz Technology Trust (LON:ATT) Reaches New 52-Week High – Should You Buy?

Shares of Allianz Technology Trust (LON:ATT) hit a new 52-week high during trading on Monday . The stock traded as high as GBX 410.70 and last traded at GBX 724.78, with a volume of 1659384 shares changing hands. The stock had previously closed at GBX 730.

Allianz Technology Trust Stock Performance

The business has a 50-day simple moving average of GBX 685.71 and a 200-day simple moving average of GBX 587.17. The company has a market cap of £2.48 billion, a price-to-earnings ratio of 6.63 and a beta of 0.67.

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.