Economic Investment Trust (TSE:EVT) Reaches New 52-Week High - Should You Invest Now?

Economic Investment Trust Limited (TSE:EVT) has recently achieved a significant milestone by hitting a new 52-week high during mid-day trading on Tuesday. The stock traded at a peak price of C$193.59 before closing at the same price, with a trading volume of 300 shares. This is an increase from its previous day’s closing price of C$190.00.

Current Stock Performance

The stock has exhibited some volatility, showing a slight decrease of 0.5% on the day it reached its peak. The current fifty-day moving average stands at C$173.90, while the 200-day moving average is significantly lower at C$168.08. With a market capitalization of C$1.06 billion, the company maintains a PE ratio of 3.67 and a beta of 0.75, indicating lower volatility compared to the market.

Dividend Announcement

In addition to its impressive stock performance, Economic Investment Trust recently announced a quarterly dividend. This dividend was paid out on December 31st, amounting to $0.30 for investors on record. The ex-dividend date was noted as December 16th. On an annualized basis, this translates to a total dividend of $1.20, providing a yield of 0.63% for shareholders.

Insider Trading Activity

Interesting movements have also been observed with the company’s insider trading. An insider of Economic Investment Trust Limited purchased 300 shares on December 18th at an average cost of C$164.00 per share, totaling a transaction value of C$49,200. Currently, company insiders hold approximately 79.70% of the stock, indicating a strong level of confidence in the company’s future prospects.

Company Profile

Economic Investment Trust Limited operates as a closed-ended equity mutual fund managed by Burgundy Asset Management Ltd. The fund primarily invests in public equity markets globally, targeting diversified stocks across various sectors. To evaluate its performance, the fund benchmarks against indices such as the S&P/TSX Composite Index, MSCI World Index, and S&P 500 Index.

Conclusion: Time to Consider Investing?

With Economic Investment Trust recently hitting a new 52-week high, potential investors may be wondering whether this is the right time to buy. Currently, analysts have given the stock a "Hold" rating, suggesting a wait-and-see approach. Nonetheless, other investment options may be available that some analysts recommend in lieu of EVT. It’s important to conduct thorough research and keep an eye on market trends before making any investment decisions.

Investment, Stocks, Market