Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Down - Time to Sell?

Key Points

• Hong Kong & China Gas Co. experienced a share price drop, opening at $0.85 after closing the previous day at $0.88, with a volume of 1,045 shares traded.
• The company has announced a dividend of $0.0123 per share, set to be paid on September 22nd, representing a yield of 411.0%.
• Rhumbline Advisers increased its stake in Hong Kong & China Gas by 26.9% in the first quarter, owning 131,441 shares valued at $107,000.

Shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $0.88, but opened at $0.85. Hong Kong & China Gas shares last traded at $0.85, with a volume of 1,045 shares changing hands.

Hong Kong & China Gas Trading Up 2.2%

The company has a current ratio of 0.67, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $0.84 and a 200-day simple moving average of $0.83.

Hong Kong & China Gas Cuts Dividend

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

Hedge Funds Weigh In On Hong Kong & China Gas

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers boosted 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,441 shares of the company's stock after acquiring 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.

Hong Kong & China Gas Company Profile

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.