The Mercantile Investment Trust (LON:MRC) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• The Mercantile Investment Trust's stock price has recently crossed above its 50-day moving average of GBX 252.69, reaching a high of GBX 255 during trading.
• The trust boasts a market cap of £1.88 billion and a PE ratio of 4.76, indicating its position in the market.
• Insider Rachel Beagles made a notable purchase of 1,016 shares at an average cost of GBX 253, totaling over £2,570.48, reflecting insider confidence in the company.

The Mercantile Investment Trust plc (LON:MRC - Get Free Report)'s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 252.69 ($3.39) and traded as high as GBX 255 ($3.43). The Mercantile Investment Trust shares last traded at GBX 253 ($3.40), with a volume of 965,060 shares traded.

The Mercantile Investment Trust Price Performance

The business's 50 day moving average price is GBX 252.72 and its 200-day moving average price is GBX 242.20. The firm has a market capitalization of £1.87 billion, a price-to-earnings ratio of 4.74 and a beta of 1.16.

Insider Activity

In other news, insider Rachel Beagles purchased 1,016 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were acquired at an average cost of GBX 253 ($3.40) per share, for a total transaction of £2,570.48 ($3,452.63). 1.68% of the stock is currently owned by company insiders.

About The Mercantile Investment Trust

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.