Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Down - What's Next?

Key Points

• Hong Kong & China Gas Co. shares gapped down before trading, opening at $0.81 compared to a previous close of $0.84, marking a 3.6% decline.
• The company has recently cut its dividend, paying a dividend yield of 411.0% based on the amount declared for stockholders of record.
• Rhumbline Advisers significantly increased its stake in Hong Kong & China Gas by 26.9% during the first quarter, now holding shares worth $107,000.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - ) shares gapped down prior to trading on Wednesday . The stock had previously closed at $0.84, but opened at $0.81. Hong Kong & China Gas shares last traded at $0.81, with a volume of 365 shares trading hands.

Hong Kong & China Gas Stock Down 3.6%

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

Hong Kong & China Gas Cuts Dividend

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

Institutional Investors Weigh In On Hong Kong & China Gas

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers grew its stake in shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% during the first quarter, according to the company in its most recent disclosure 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 quarter. Rhumbline Advisers' holdings in Hong Kong & China Gas were worth $107,000 at the end of the most recent quarter.

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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