Pacific Assets (LON:PAC) Stock Crosses Above 50-Day Moving Average – What’s Next?

Pacific Assets (LON:PAC) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 409.02 and traded as high as GBX 430. Pacific Assets shares last traded at GBX 426.99, with a volume of 180,574 shares trading hands.

Pacific Assets Stock Down 1.8%

The stock’s 50 day moving average is GBX 409.02 and its two-hundred day moving average is GBX 386.52. The company has a market capitalization of £480.48 million, a PE ratio of -113.65 and a beta of 0.66.

Pacific Assets (LON:PAC) last released its quarterly earnings data on Friday, May 1st. The investment trust reported GBX 5.60 earnings per share (EPS) for the quarter. The firm had revenue of GBX 991 million for the quarter. Pacific Assets had a negative net margin of 29.27% and a negative return on equity of 0.93%.

About Pacific Assets

Pacific Assets Trust plc is a closed ended equity mutual fund launched by Frostrow Capital LLP. It is managed by First State Investment Management (UK) Limited. The fund invests in public equity markets of the Asia-Pacific region, excluding Japan, Australia, and New Zealand. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in growth stocks of companies, with an emphasis on companies which are well positioned to benefit from and contribute to sustainable development of the countries in which they operate.