Hong Kong & China Gas (OTCMKTS:HOKCY) Stock Price Passes Below Fifty Day Moving Average - Here's Why

Key Points

• Hong Kong & China Gas (OTCMKTS:HOKCY) shares have dipped below their 50-day moving average of $0.85, trading as low as $0.80 during recent trading sessions.
• The company recently announced an increase in its dividend to $0.0237 per share, reflecting a yield of 4.8%, a positive change from the previous dividend of $0.01.
• An institutional investor, Rhumbline Advisers, has raised its stake in Hong Kong & China Gas by 26.9%, holding 131,441 shares valued at approximately $107,000.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report)'s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.85 and traded as low as $0.80. Hong Kong & China Gas shares last traded at $0.88, with a volume of 6,895 shares changing hands.

Hong Kong & China Gas Stock Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.67. The stock's 50 day moving average is $0.85 and its 200 day moving average is $0.81.

Hong Kong & China Gas Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a dividend of $0.0237 per share. This represents a dividend yield of 480.0%. This is a positive change from Hong Kong & China Gas's previous dividend of $0.01. The ex-dividend date of this dividend was Friday, June 6th.

Hedge Funds Weigh In On Hong Kong & China Gas

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers raised 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

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.