TwentyFour Select Monthly Income Fund (LON:SMIF) Reaches New 52-Week Low – Here’s What Happened

Shares of TwentyFour Select Monthly Income Fund Limited (LON:SMIF) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as GBX 80 ($1.05) and last traded at GBX 84.80 ($1.11), with a volume of 4529031 shares. The stock had previously closed at GBX 86.40 ($1.13).

TwentyFour Select Monthly Income Fund Trading Down 1.9 %

The company has a fifty day moving average price of GBX 86.76 and a two-hundred day moving average price of GBX 85.87. The firm has a market capitalization of £232.57 million and a price-to-earnings ratio of -1,060.00.

TwentyFour Select Monthly Income Fund Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 20th will be paid a GBX 0.50 ($0.01) dividend. This represents a dividend yield of 0.57%. The ex-dividend date is Thursday, March 20th. TwentyFour Select Monthly Income Fund’s payout ratio is -8,750.00%.

Insider Activity

In other news, insider Simon Richard Class purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of GBX 86 ($1.13) per share, for a total transaction of £21,500 ($28,170.86). Company insiders own 0.12% of the company’s stock.

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.