Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Down 3.7% - Should You Sell?

Key Points

• Hong Kong & China Gas Co. shares fell by 3.7% during trading, with a significant drop in trading volume, indicating reduced interest from investors.
• The company announced a dividend of $0.0123, yielding 411.0%, which was distributed to investors of record on September 3rd.
• A hedge fund, Rhumbline Advisers, increased its stake in Hong Kong & China Gas by 26.9%, reflecting institutional confidence despite the recent share price decline.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - ) was down 3.7% during trading on Friday . The company traded as low as $0.82 and last traded at $0.82. Approximately 215 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 20,277 shares. The stock had previously closed at $0.85.

Hong Kong & China Gas Stock Up 0.7%

The business has a 50-day moving average of $0.84 and a 200 day moving average of $0.85. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.67 and a quick ratio of 0.61.

Hong Kong & China Gas Cuts Dividend

The business also recently declared a dividend, which was paid on Monday, September 22nd. Investors of record on Wednesday, September 3rd were given a $0.0123 dividend. This represents a yield of 411.0%. The ex-dividend date of this dividend was Tuesday, September 2nd.

Institutional Investors Weigh In On Hong Kong & China Gas

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers lifted its holdings in shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,441 shares of the company's stock after purchasing an additional 27,860 shares during the period. 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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