Tricon Capital Group Inc. (TCN:CA) is one of the best performing stocks in the financial sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of TCN:CA have climbed 1.5% about halfway through the session to $9.5 after closing the day prior at $9.36. So far, the stock has traded as high as $9.51 and as low as $9.34 in morning action. Today’s advance has come with about 99,183 shares changing hands, compared to an average 30-day volume of 290,876 for Tricon Capital Group Inc.. The price is currently below the 30-day volume weighted average price of $9.43 for TCN:CA.
The share appreciation gives the financial company a market capitalization of $1.05 billion based upon 112.45 million shares outstanding. It also means that Tricon Capital G has a price-to-book ratio of 1.14:1 and a price-to-earnings ratio of 7.9:1.
In the past 52 weeks, shares of TCN:CA have traded as low as $7.53 and as high as $11.09. Technical traders will take note that at $9.5, shares of TCN:CA are trading above their 200-day MA at $8.78 and below their 50-day MA at $9.59. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is Tricon Capital G?
Tricon Capital Group Inc invests for investment income and capital appreciation through its Principal Investment business segments and earn fee income through its Private Funds and Advisory business in the U.S. and Canada. The company’s 371 employees are led by CEO Gary Berman from the corporate headquarters at 1067 Yonge Street.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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