CQS New City High Yield (LON:NCYF) Shares Pass Below 50-Day Moving Average – What’s Next?

Shares of CQS New City High Yield (LON:NCYF) passed 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 trading hands.

CQS New City High Yield Price Performance

The stock has a market capitalization of £363.00 million, a P/E ratio of 14.52 and a beta of 0.08. The company has a current ratio of 8.09, a quick ratio of 2.43 and a debt-to-equity ratio of 12.54. The stock has a 50 day moving average of GBX 51.20 and a 200-day moving average of GBX 50.81.

Insider Buying and Selling

In related news, insider Andrew Dann acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of GBX 52 per share, for a total transaction of £13,000. Also, insider John Newlands purchased 30,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was purchased at an average price of GBX 52 per share, for a total transaction of £15,600. Insiders have purchased 121,000 shares of company stock worth $6,292,000 in the last three months. Corporate insiders own 1.00% of the company’s stock.

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.