Fidelity China Special (LON:FCSS) Sets New 1-Year High - Here's What Happened

Key Points

• Fidelity China Special (LON:FCSS) shares hit a new 12-month high at GBX 326 ($4.39) during mid-day trading, indicating strong market interest.
• The company has a market cap of £1.58 billion and a very high price-to-earnings ratio of 491.42, suggesting it may be overvalued compared to earnings.
• Insider Mike Balfour purchased 2,063 shares at an average price of GBX 282, reflecting confidence in the stock despite its high valuation.

Fidelity China Special (LON:FCSS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 326 ($4.41) and last traded at GBX 323.50 ($4.37), with a volume of 6805936 shares changing hands. The stock had previously closed at GBX 323 ($4.37).

Fidelity China Special Stock Up 0.3%

The company's fifty day moving average is GBX 294.56 and its 200 day moving average is GBX 266.02. The stock has a market cap of £1.58 billion and a PE ratio of 491.43.

Insider Buying and Selling

In other Fidelity China Special news, insider Mike Balfour bought 2,063 shares of the business's stock in a transaction on Monday, August 4th. The shares were purchased at an average price of GBX 282 per share, with a total value of £5,817.66. 0.09% of the stock is currently owned by corporate insiders.

Fidelity China Special Company Profile

As the world's second-largest economy, China is shifting from export-led growth towards an economy driven by domestic consumption. With expanding middle classes, rising incomes and technological innovations driving this change and creating a solid backdrop for companies to thrive, investors seeking an effective globally diversified portfolio may want to consider allocating some of their portfolio to China. Fidelity China Special Situations PLC provides focused exposure to companies benefiting from this growth opportunity.