Things That You Need To Know About Witan Investment Trust Plc's Stock Split

  • May 29, 2019 BST
  • Team Kalkine
Things That You Need To Know About Witan Investment Trust Plc's Stock Split

Witan Investment Trust Plc is a London-headquartered closed-end investment trust. The group offers a portfolio of diversified global equities through a multi-manager approach. The investment trust's portfolio is spread across all the major financial markets, offering diversification by geographical region, industrial sector, individual stock and underlying fund manager. The group has a geographic presence in the UK, Continental Europe, Asia Pacific, North America, Japan and Latin America.

Recently (May 24, 2019), the group has announced that, “following approval secured from the shareholders in the annual general meeting held on May 01, 2019, the company has exercised its stock split corporate action on May 28, 2019, and there was a 5-for-1 split of the company's ordinary shares."

A stock split could be defined as a process of replacing one existing ordinary share into a specified number of shares. Therefore, when a company conduct stock split, the outstanding number of stocks increases and additional shares are issued proportionally to the existing shareholders. But this will not have any impact on the overall value of the company and the value of shareholder's total shares do not change.

Each shareholder in the Witan Investment Trust Plc has received five shares of 5 pence each against their holding of one share of 25 pence each. 

The Investment trust group has an outstanding market capitalisation of around £1.82 bn, and the group’s stock is a constituent of the FTSE 250 index. In the past one year, shares of WTAN have registered a 52w high of GBX 228 and a 52w low of GBX 189.0.

At the time of writing (as on May 29, 2019, at 02:33 PM GMT), shares of WTAN were quoting at GBX 206.38 and declined by 5.02 points or 2.37% against the previous day closing price. On a year-to-date basis, shares of the company have delivered a price return of 8.8%.

Daily Chart as on May 29, 2019, at 02:33 PM GMT (Source: Thomson Reuters).

At the current trading level, as quoted in the price chart, shares were trading above its 200-days and 60-days simple moving average price and marginally lower than the 30-days simple moving average price. From the volume standpoint, share’s 5-day average daily volume traded on the London Stock Exchange was 23.25% below the 30-day average daily volume traded on the London Stock Exchange. Today’s trading volume in the stock stood at around 596,287.

The dividend yield of the company stood at around 2.28 per cent and the stock carrying a beta of 0.85, which indicates the stock is relatively less volatile against the benchmark index.

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