Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Down 7.4% - Here's Why

Key Points

• Shares of Hong Kong & China Gas have dropped by 7.4%, closing at $0.81, following a significant decline in trading volume.
• The company announced a dividend of $0.0123 per share, resulting in a remarkable dividend yield of 411.0%, payable on September 22nd.
• Rhumbline Advisers increased its stake in Hong Kong & China Gas by 26.9%, holding 131,441 shares valued at $107,000 according to recent SEC filings.

Shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report) traded down 7.4% during mid-day trading on Tuesday . The company traded as low as $0.81 and last traded at $0.81. 2,278 shares were traded during trading, a decline of 89% from the average session volume of 20,728 shares. The stock had previously closed at $0.87.

Hong Kong & China Gas Price Performance

The stock's 50-day moving average price is $0.85 and its 200-day moving average price is $0.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.67.

Hong Kong & China Gas Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, September 22nd. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.0123 per share. This represents a dividend yield of 411.0%. The ex-dividend date of this dividend is Tuesday, September 2nd.

Institutional Inflows and Outflows

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% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

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.