The stock market experienced volatility with the benchmark Nigerian Exchange Limited, NGX, All-Share Index, ASI, closing higher, gaining a modest 11 basis points, bps, Week-on-Week, WoW, at 66,464.57 points last Friday from 66,362.14 points the previous week. Investors are eagerly anticipating policy statements from the fiscal and monetary authorities as the new ministers and apex bank leadership settle down to roll out new economic plans. The second-quarter 2023 financial results are being announced, and the third-quarter 2023 reports are expected to start pouring in soon. Analysts are predicting mixed Q3'23 earnings reports due to ongoing fiscal reforms and foreign exchange challenges. The market capitalization closed at N36.510 trillion, with a year-to-date growth of 29.89%. Analysts anticipate mixed sentiment in the market with bargain hunting and portfolio repositioning ahead of Q3 corporate earnings reports and the reconvening of the monetary policy meeting by the Central Bank of Nigeria [d842ddd2] [51ea1f2c] [3e00a03a].[d842ddd2] [51ea1f2c] [3e00a03a]
Net subscription of units of Hungarian investment funds reached HUF 453 billion in August, up from HUF 339 billion in July. The net asset value of Hungarian investment funds reached HUF 16.191 trillion at the end of August. Price changes added HUF 74 billion to NAV, but exchange rate fluctuations reduced the value by HUF 35 billion during the month. Investment fund NAV was up from HUF 11.425 trillion 12 months earlier. Fixed income funds had the biggest NAV (HUF 4.75 trillion), followed by equities funds (HUF 4.153 trillion), real estate funds (HUF 3.41 trillion), and mixed funds (HUF 2.185 trillion) at the end of the month [45c5b881].[45c5b881]
The share price of BlackRock MuniAssets Fund (NYSE:MUA) has fallen below its 200-day moving average. The stock traded as low as $8.71 and last traded at $9.05. The company recently announced a monthly dividend of $0.0405 per share. Several hedge funds have bought and sold shares of MUA. BlackRock MuniAssets Fund is a closed-ended fixed income mutual fund managed by BlackRock Advisors, LLC. It invests in fixed income markets to provide current income exempt from federal income taxes [0c453215].
Nuveen New York Municipal Value Fund (NYSE:NNY) stock has crossed below its 200-day moving average, trading as low as $7.64. The stock last traded at $7.71, with a volume of 78,308 shares. The company also announced a monthly dividend of $0.028 per share, to be paid on December 1st. Several institutional investors and hedge funds have made changes to their positions in the stock. Nuveen New York Municipal Value Fund, Inc is a closed-ended fixed income mutual fund that invests in tax exempt municipal bonds in New York. [bb741d1e]
The Gabelli Convertible and Income Securities Fund (NYSE:GCV) stock crossed below its 200-day moving average, trading as low as $3.50. The company recently declared a quarterly dividend of $0.12 per share, with an annualized dividend yield of 13.50%. Several large investors have made changes to their positions in GCV. [c1959ada]
The stock of Western Asset Mortgage Opportunity Fund (NYSE:DMO) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $10.66 and traded as low as $10.54. Western Asset Mortgage Opportunity Fund shares last traded at $10.71, with a volume of 46,915 shares. The company has a 50-day simple moving average of $10.65 and a 200-day simple moving average of $10.66. Several hedge funds and institutional investors have modified their holdings of DMO. [5e3049d5]
Futu Holdings, the parent company of Moomoo, reported unaudited Q3 2023 earnings with $338.5 million in revenues and $147.9 million in non-GAAP net income. Moomoo and its sister brands reached 21.09 million global users and 1.65 million paying clients by the end of Q3 2023. Futu's long-term issuer credit rating was reaffirmed by Standard & Poor's. Moomoo expanded its services to Japanese and Canadian investors, and Moomoo Singapore became a leader among digital investment platforms. Moomoo also enhanced its media visibility in Australia and partnered with the Stockbrokers and Investment Advisers Association. The platform introduced over-the-counter US stocks trading, automated customer account transfer service, and added quotes for Malaysian stocks and futures. Moomoo's R&D team introduced a feature for algorithmic trading, and the moo community's engagement and user-generated content increased by 60%. Moomoo is an investment and trading platform that provides users with tools, data, and insights to make informed investment decisions. It offers advanced charting tools, technical analytics, and educational materials.
Moomoo, a leading investment and trading platform, has announced a global strategic partnership with Nasdaq. The collaboration aims to empower investors with advanced trading technology and comprehensive market insights. Eligible investors can sign up for an exclusive 3-month free trial of Nasdaq TotalView® on the moomoo platform. Nasdaq TotalView® offers unparalleled market depth, displaying the full order book depth on Nasdaq. Moomoo has expanded to six countries and regions and provides users with access to pro-level market data. The addition of Nasdaq TotalView® allows investors to have a more accurate understanding of support and resistance levels. Moomoo also offers advanced trading tools, including drawing tools and indicators, to assist investors in managing and analyzing market data. The platform provides real-time insights, a 24/7 Global News function, and complete U.S. Stock earnings data through the Earnings Hub. Moomoo operates globally and has received international accolades for its role as a global strategic partner of Nasdaq. [53789121]