Polar Capital Global Financials (LON:PCFT) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Polar Capital Global Financials (LON:PCFT) shares passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of GBX 242.12 and traded as high as GBX 245.50. Polar Capital Global Financials shares last traded at GBX 242.50, with a volume of 43,552 shares traded.

Polar Capital Global Financials Price Performance

The firm’s 50 day moving average price is GBX 242.12 and its two-hundred day moving average price is GBX 234.03. The company has a debt-to-equity ratio of 10.75, a current ratio of 1.02 and a quick ratio of 0.68. The stock has a market cap of £379.73 million, a PE ratio of 9.61 and a beta of 1.06.

About Polar Capital Global Financials

The Trust was launched in July 2013 as a lower-risk way for investors to get exposure to the global Financials sector and give UK investors the ability to diversify their exposure away from UK banks. It was one of the most successful investment trust launches at the time. The Trust was launched with a fixed life to May 2020, providing certainty to investors through the opportunity to realise their investment at this time at net asset value. Shareholders subsequently supported a proposal to extend its life indefinitely, subject to regular tender offers at net asset value (less costs) every five years.