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

Key Points

• Hong Kong & China Gas shares opened at $0.85, down from a previous close of $0.90, indicating a gap down in stock price.
• The company's dividend yield stands at a remarkable 411.0%, following a recent distribution of $0.0123 per share paid to shareholders.
• An institutional investor, Rhumbline Advisers, increased its stake in the company by 26.9%, now holding a total of 131,441 shares worth approximately $107,000.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - )'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $0.90, but opened at $0.85. Hong Kong & China Gas shares last traded at $0.85, with a volume of 121 shares changing hands.

Hong Kong & China Gas Stock Down 3.9%

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 firm has a 50-day moving average price of $0.84 and a two-hundred day moving average price of $0.85.

Hong Kong & China Gas Cuts Dividend

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

Hedge Funds Weigh In On Hong Kong & China Gas

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers increased its stake in shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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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