Pacific Assets (LON:PAC) Sets New 52-Week High – Here’s Why

Shares of Pacific Assets (LON:PAC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 392 and last traded at GBX 391, with a volume of 475498 shares trading hands. The stock had previously closed at GBX 386.

Pacific Assets Stock Up 1.3%

The firm’s 50-day moving average price is GBX 371.22 and its 200 day moving average price is GBX 364.18. The firm has a market cap of £446.77 million, a P/E ratio of -18.53 and a beta of 0.38.

About Pacific Assets

Pacific Assets Trust plc is a closed ended equity mutual fund launched by Frostrow Capital LLP. It is managed by First State Investment Management (UK) Limited. The fund invests in public equity markets of the Asia-Pacific region, excluding Japan, Australia, and New Zealand. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in growth stocks of companies, with an emphasis on companies which are well positioned to benefit from and contribute to sustainable development of the countries in which they operate.