Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Cross Below 50 Day Moving Average - What's Next?

Key Points

• Hong Kong & China Gas shares fell below their 50-day moving average on Wednesday, trading at $0.83 after reaching a low of $0.82.
• The company cut its dividend, which was $0.0123 per share, resulting in a high yield of 411.0%.
• Rhumbline Advisers increased its stake in Hong Kong & China Gas by 26.9%, owning a total of 131,441 shares valued at approximately $107,000.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - ) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.84 and traded as low as $0.82. Hong Kong & China Gas shares last traded at $0.83, with a volume of 374,937 shares.

Hong Kong & China Gas Trading Down 5.6%

The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $0.84 and its 200-day simple moving average is $0.84.

Hong Kong & China Gas Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, September 22nd. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.0123 per share. This represents a yield of 411.0%. The ex-dividend date was Tuesday, September 2nd.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers raised its position in shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 131,441 shares of the company's stock after buying an additional 27,860 shares during the quarter. Rhumbline Advisers' holdings in Hong Kong & China Gas were worth $107,000 at the end of the most recent reporting period.

About Hong Kong & China Gas

The Hong Kong and China Gas Company Limited, together with its subsidiaries, produces, distributes, and markets gas, water supply and energy services in Hong Kong and Mainland China. It is involved in the provision of smart energy, piped city-gas, upstream and midstream projects, water supply and wastewater treatment, urban waste resource utilization, and natural gas filling stations, as well as new energy exploration and utilization activities.

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