TwentyFour Select Monthly Income Fund (LON:SMIF) Hits New 52-Week Low – What’s Next?

TwentyFour Select Monthly Income Fund Limited (LON:SMIF) hit a new 52-week low during trading on Friday . The company traded as low as GBX 80 ($1.03) and last traded at GBX 84.80 ($1.09), with a volume of 4529031 shares changing hands. The stock had previously closed at GBX 86.40 ($1.11).

TwentyFour Select Monthly Income Fund Stock Performance

The stock has a 50 day moving average of GBX 86.73 and a two-hundred day moving average of GBX 85.87. The firm has a market capitalization of £232.57 million and a P/E ratio of -1,060.00.

TwentyFour Select Monthly Income Fund Announces Dividend

The company also recently declared a dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 20th were issued a dividend of GBX 0.50 ($0.01) per share. This represents a yield of 0.57%. The ex-dividend date was Thursday, March 20th. TwentyFour Select Monthly Income Fund’s dividend payout ratio (DPR) is -8,750.00%.

Insider Buying and Selling

In related news, insider Simon Richard Class purchased 25,000 shares of TwentyFour Select Monthly Income Fund stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of GBX 86 ($1.11) per share, with a total value of £21,500 ($27,724.05). 0.12% of the stock is owned by insiders.

About TwentyFour Select Monthly Income Fund

TwentyFour Select Monthly Income Fund is a London listed closed-ended fund which is designed to take advantage of the premium returns available from “less liquid” instruments across the debt spectrum. These securities, do not offer enough liquidity for daily priced OEICs, but are well suited to a traded closed-ended vehicle, where investors can obtain liquidity via the exchange and the quarterly buyback facility that the fund offers.