TwentyFour Select Monthly Income Fund (LON:SMIF) Shares Cross Below 50 Day Moving Average – Should You Sell?

TwentyFour Select Monthly Income Fund Limited (LON:SMIF)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 86.75 ($1.12) and traded as low as GBX 85.80 ($1.11). TwentyFour Select Monthly Income Fund shares last traded at GBX 86.20 ($1.11), with a volume of 562,578 shares trading hands.

TwentyFour Select Monthly Income Fund Stock Down 1.9 %

The stock has a market capitalization of £232.57 million and a price-to-earnings ratio of -1,060.00. The stock has a 50 day moving average price of GBX 86.73 and a 200 day moving average price of GBX 85.87.

TwentyFour Select Monthly Income Fund Announces Dividend

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

Insiders Place Their Bets

In related news, insider Simon Richard Class purchased 25,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of GBX 86 ($1.11) per share, with a total value of £21,500 ($27,734.78). Insiders own 0.12% of the company’s stock.

TwentyFour Select Monthly Income Fund Company Profile

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.