Li Ning (OTCMKTS:LNNGY) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• Li Ning Co. shares have surpassed their 50-day moving average of $51.28, trading at $53.00, with a peak at $54.23 during recent trading.
• The company has cut its dividend, announcing a payment of $0.6507 per share which reflects a yield of 384.0% for shareholders.
• Despite positive trading movements, Li Ning shares experienced a decline of 1.3% recently, indicating potential volatility.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $51.28 and traded as high as $54.23. Li Ning shares last traded at $53.00, with a volume of 14,442 shares changing hands.

Li Ning Stock Performance

The firm has a 50 day moving average of $51.47 and a 200 day moving average of $51.41.

Li Ning Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, July 11th. Shareholders of record on Wednesday, June 18th were issued a $0.6507 dividend. The ex-dividend date was Tuesday, June 17th. This represents a yield of 384.0%.

Li Ning Company Profile

Li Ning Company Limited, a sports brand company, engages in the research and development, design, manufacture, marketing, distribution, and retail of sporting goods in the People's Republic of China. The company offers sporting goods, including professional and leisure footwear, apparel, equipment, and accessories under the LI-NING brand.