CQS New City High Yield (LON:NCYF) Shares Cross Below 50 Day Moving Average – Here’s Why

CQS New City High Yield (LON:NCYF) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 51.61 ($0.63) and traded as low as GBX 51.20 ($0.63). CQS New City High Yield shares last traded at GBX 52.80 ($0.64), with a volume of 1,381,193 shares traded.

CQS New City High Yield Price Performance

The company has a quick ratio of 2.43, a current ratio of 0.21 and a debt-to-equity ratio of 13.83. The stock has a market cap of £286.36 million, a P/E ratio of 1,760.00 and a beta of 0.46. The firm has a 50 day moving average price of GBX 51.61 and a 200 day moving average price of GBX 51.94.

CQS New City High Yield Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, October 24th were issued a dividend of GBX 1 ($0.01) per share. This represents a yield of 1.92%. The ex-dividend date was Thursday, October 24th. CQS New City High Yield’s dividend payout ratio is currently 13,333.33%.

About CQS New City High Yield

CQS New City High Yield Fund Limited is a close ended fixed income mutual fund launched by CQS Asset Management Ltd. The fund is managed by CQS (UK) LLP. It invests in fixed income markets. The fund primarily invests in fixed income securities such as corporate and government bonds, loan stocks, and high yielding bonds.