The Mercantile Investment Trust (LON:MRC) Stock Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• The Mercantile Investment Trust's stock price surpassed its 50-day moving average of GBX 252.22, reaching a high of GBX 253 during trading.
• The company has a market capitalization of £1.89 billion and a P/E ratio of 4.78, indicating potential attractiveness to value investors.
• Insider Rachel Beagles purchased 1,016 shares at an average of GBX 253, suggesting confidence in the company's future performance.

Shares of The Mercantile Investment Trust plc (LON:MRC - Get Free Report) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 252.22 ($3.35) and traded as high as GBX 253 ($3.36). The Mercantile Investment Trust shares last traded at GBX 250.50 ($3.32), with a volume of 1,526,124 shares changing hands.

The Mercantile Investment Trust Stock Down 0.8%

The firm has a 50-day moving average of GBX 252.40 and a two-hundred day moving average of GBX 241.45. The company has a market capitalization of £1.88 billion, a PE ratio of 4.76 and a beta of 1.16.

Insiders Place Their Bets

In other The Mercantile Investment Trust news, insider Rachel Beagles purchased 1,016 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was purchased at an average price of GBX 253 ($3.36) per share, for a total transaction of £2,570.48 ($3,411.84). Corporate insiders own 1.68% of the company's stock.

The Mercantile Investment Trust Company Profile

The Mercantile Investment Trust Approach Expert market access As one of the largest UK equity investment trusts and a history stretching back more than 130 years, The Mercantile Investment Trust enjoys a long and successful track record championing quality UK medium-sized and smaller companies.