Polar Capital Technology Trust Shares Fall More Than 5% in Early Trade
Polar Capital Technology Trust has fallen more than 5% in early London trading on Thursday, to 643p by 09:15, its sharpest one-day drop in the 321 sessions of price history reviewed.
Polar Capital Technology Trust (LSE: PCT), a FTSE 350 investment trust, fell 5.16% to 643p in London by 09:15 on Thursday morning. It has traded between 641.5p and 650.5p so far today, near the bottom of that range, with the session still running.
The fall leaves the shares 12.3% below their 52-week high. Even so, they remain up 38.6% across this year’s 252 sessions and 49.9% above their 52-week low.
Polar Capital Technology Trust shares over the month to Thursday, with today’s fall (intraday, as of 09:15 London time)
How unusual this is
A fall of this size is new for the trust. In the 321 sessions of price history reviewed, the shares had never before dropped 5% or more in a single day.
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PCT.LSE
What was behind it
The fall looks to be part of a broader pullback in technology shares, with weakness across US and Asian technology stocks spilling into London trading on Thursday morning.
The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
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