Power Assets (OTCMKTS:HGKGY) Sees Large Volume Increase - Here's What Happened

Key Points

• Power Assets Holdings Ltd. experienced a significant increase in trading volume, with 7,183 shares traded, marking a 117% rise from the previous session's volume.
• The company's stock price increased to $6.61 from a previous close of $6.40, reflecting positive market activity.
• Power Assets declared a new dividend of $0.2425 per share, increasing the yield to 4.84%, a notable rise from its last dividend of $0.08.
• The company operates in generation, transmission, and distribution of electricity, with a focus on multiple regions including Hong Kong, the UK, and Australia.

Shares of Power Assets Holdings Ltd. (OTCMKTS:HGKGY - ) saw strong trading volume on Friday . 7,183 shares were traded during mid-day trading, an increase of 117% from the previous session's volume of 3,312 shares.The stock last traded at $6.61 and had previously closed at $6.40.

Power Assets Price Performance

The firm has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $6.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.03.

Power Assets Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, June 17th. Shareholders of record on Wednesday, May 28th were issued a $0.2425 dividend. This represents a yield of 4.84%. This is an increase from Power Assets's previous dividend of $0.08. The ex-dividend date was Tuesday, May 27th.

About Power Assets

Power Assets Holdings Limited, an investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Mainland China, and internationally. It generates energy from thermal, renewable energy, and waste sources. The company also transmits and distributes oil and gas; and provides trust administration and management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.