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

Key Points

• Hong Kong & China Gas shares gapped down from a previous close of $0.88 to open at $0.79, later trading at $0.84 with a low trading volume of 867 shares.
• The company recently cut its dividend, with shareholders receiving a payment of $0.0123 per share, resulting in a significant yield of 411.0%.
• Hedge fund Rhumbline Advisers increased its stake in Hong Kong & China Gas by 26.9%, now holding 131,441 shares valued at approximately $107,000.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - )'s share price gapped down before the market opened on Monday . The stock had previously closed at $0.88, but opened at $0.79. Hong Kong & China Gas shares last traded at $0.84, with a volume of 867 shares changing hands.

Hong Kong & China Gas Price Performance

The firm has a 50 day moving average price of $0.84 and a two-hundred day moving average price of $0.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.61 and a current ratio of 0.67.

Hong Kong & China Gas Cuts Dividend

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

Institutional Trading of Hong Kong & China Gas

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers raised its holdings in Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 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.

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