Polar Capital Technology Trust (LON:PCT) Sets New 52-Week High - Still a Buy?

Key Points

• Polar Capital Technology Trust hit a new 52-week high, trading as high as GBX 669 and last changing hands at GBX 668, up about 1.3% on the day.
• The trust’s shares have surged well above their moving averages, with the 50-day average at GBX 535.05 and the 200-day average at GBX 494.71, suggesting strong recent momentum.
• Insider buying also stood out: director Tim Cruttenden purchased 982 shares at GBX 504 each, while the company showed solid liquidity and a relatively low beta of 0.86.

Shares of Polar Capital Technology Trust plc (LON:PCT - ) reached a new 52-week high on Monday . The company traded as high as GBX 669 and last traded at GBX 668, with a volume of 5456317 shares changing hands. The stock had previously closed at GBX 659.50.

Polar Capital Technology Trust Stock Up 1.3%

The company has a current ratio of 9.59, a quick ratio of 3.12 and a debt-to-equity ratio of 1.21. The firm has a market cap of £7.44 billion, a PE ratio of 3.54 and a beta of 0.86. The stock has a fifty day simple moving average of GBX 535.05 and a two-hundred day simple moving average of GBX 494.71.

Insider Activity at Polar Capital Technology Trust

In other Polar Capital Technology Trust news, insider Tim Cruttenden acquired 982 shares of the business's stock in a transaction dated Wednesday, March 18th. The stock was bought at an average price of GBX 504 per share, with a total value of £4,949.28. Insiders own 0.05% of the company's stock.

About Polar Capital Technology Trust

Polar Capital Technology Trust plc (PCT) was launched in 1996 as the successor to TR Technology Trust, the first dedicated London-listed investment trust investing in global technology companies. PCT is now a FTSE 100 company with a long-established shareholder base consisting of a variety of professional investors and also a large number of individual investors. The Trust is managed by a team of 12 specialist professionals under lead manager Ben Rogoff. Ben has been the lead manager since 2006, having joined PCT in 2003, and has 25 years' experience investing in technology stocks. PCT offers investors a broad exposure to the global technology sector and has a capital growth mandate.

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