Allianz Technology Trust (LON:ATT) Hits New 52-Week High - Still a Buy?

Key Points

• New 52-week high: Allianz Technology Trust shares climbed to GBX 562 (last GBX 560), up about 6% with ~1.21 million shares traded from a prior close of GBX 529.
• Valuation and momentum: The stock sits above its 50-day (GBX 529.44) and 200-day (GBX 524.26) moving averages, with a market cap of £1.94 billion, a PE ratio of 5.12 and a beta of 0.60; the trust reported quarterly EPS of GBX (1.11) while showing a net margin of 96.52% and ROE of 21.46%.
• Investment strategy: The trust is a UK-listed closed-end fund managed by AllianzGI Global Technology in San Francisco that targets long-term capital growth by investing principally in mid-to-large global technology companies.

Allianz Technology Trust (LON:ATT - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as GBX 562 and last traded at GBX 560, with a volume of 1206929 shares trading hands. The stock had previously closed at GBX 529.

Allianz Technology Trust Trading Up 6.0%

The business's 50 day moving average is GBX 529.44 and its two-hundred day moving average is GBX 524.26. The company has a market cap of £1.94 billion, a PE ratio of 5.12 and a beta of 0.60.

Allianz Technology Trust (LON:ATT - Get Free Report) last released its earnings results on Monday, March 16th. The company reported GBX (1.11) earnings per share for the quarter. Allianz Technology Trust had a net margin of 96.52% and a return on equity of 21.46%.

Allianz Technology Trust Company Profile

Allianz Technology Trust is managed by the highly experienced AllianzGI Global Technology team based in San Francisco. The team benefits from its close proximity to Silicon Valley where many of the world's key technology companies are headquartered. The Trust is a UK listed closed-end fund which aims to achieve long-term capital growth by investing principally in technology companies globally. The team looks to identify major trends ahead of the crowd and invest in stocks that have the potential to be tomorrow's Apple, Google or Microsoft. The Trust invests in mid to large technology companies.

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