TwentyFour Income (LON:TFIF) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of TwentyFour Income (LON:TFIF) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 105.05 ($1.36) and traded as low as GBX 103.40 ($1.34). TwentyFour Income shares last traded at GBX 103.60 ($1.35), with a volume of 1,788,681 shares changing hands.

TwentyFour Income Price Performance

The stock has a market capitalization of £777.75 million and a P/E ratio of -3,466.67. The business’s 50 day simple moving average is GBX 105.05 and its 200-day simple moving average is GBX 104.17.

TwentyFour Income Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 17th will be paid a GBX 2 ($0.03) dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a yield of 1.87%. TwentyFour Income’s payout ratio is presently -33,333.33%.

Insider Buying and Selling at TwentyFour Income

In other TwentyFour Income news, insider John Le Poidevin acquired 94,679 shares of TwentyFour Income stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of GBX 105 ($1.36) per share, with a total value of £99,412.95 ($129,074.20). Insiders own 0.09% of the company’s stock.

About TwentyFour Income

TwentyFour Income Fund Limited is a closed-ended fixed income mutual fund launched by Numis Securities Limited. The fund is managed by TwentyFour Asset Management LLP. It invests in the fixed income markets of Europe. The fund primarily invests in asset backed securities. It seeks to invest in securities across the maturity spectrum.