Pacific Assets (LON:PAC) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Pacific Assets (LON:PAC)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 403.20 and traded as high as GBX 426. Pacific Assets shares last traded at GBX 423, with a volume of 819,969 shares traded.

Pacific Assets Stock Performance

The company has a market capitalization of £491.33 million, a price-to-earnings ratio of -116.22 and a beta of 0.66. The business’s 50-day simple moving average is GBX 404.44 and its 200-day simple moving average is GBX 384.40.

Pacific Assets (LON:PAC) last posted its quarterly earnings results on Friday, May 1st. The investment trust reported GBX 5.60 earnings per share for the quarter. Pacific Assets had a negative net margin of 29.27% and a negative return on equity of 0.93%. The business had revenue of GBX 991 million during the quarter.

Pacific Assets Company Profile

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.