CQS New City High Yield (LON:NCYF) Stock Price Passes Below Fifty Day Moving Average – Should You Sell?

CQS New City High Yield (LON:NCYF)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 51.89 ($0.67) and traded as low as GBX 50.80 ($0.65). CQS New City High Yield shares last traded at GBX 51.60 ($0.66), with a volume of 1,172,108 shares traded.

CQS New City High Yield Price Performance

The stock has a market capitalization of £277.73 million, a P/E ratio of 1,720.00 and a beta of 0.46. The company has a debt-to-equity ratio of 13.83, a current ratio of 0.21 and a quick ratio of 2.43. The company’s 50 day simple moving average is GBX 51.88 and its two-hundred day simple moving average is GBX 51.99.

CQS New City High Yield Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, October 24th will be given a dividend of GBX 1 ($0.01) per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a yield of 1.92%. CQS New City High Yield’s payout ratio is presently 13,333.33%.

CQS New City High Yield Company Profile

CQS New City High Yield Fund Limited is a close ended fixed income mutual fund launched by CQS Asset Management Ltd. The fund is managed by CQS (UK) LLP. It invests in fixed income markets. The fund primarily invests in fixed income securities such as corporate and government bonds, loan stocks, and high yielding bonds.