City Of London Investment Share Discussion Threads

[my retirement fund] 28/1/2020 16:43

The chaos in the far east due to the virus. Very surprised it managed to hold up yesterday tbh.

[eggbaconandbubble] 28/1/2020 16:34

What's caused that? share price drop!

[montyhedge] 24/1/2020 14:23

A fund will just take them, perhaps he want 500p now.

[2wild] 23/1/2020 17:01

We are in a closed period, so i don't think he can sell untill after interim results are published.

[montyhedge] 23/1/2020 13:47

Perhaps his been made an offer, could a bid be in the wind? Let mine go at 625p.

[masurenguy] 23/1/2020 13:42

Certainly is ! :o)
I'm surprised that Barry did not exercise his scheduled sell of 500K @ 450p but maybe he is holding back until it reaches £5 !

[skinny] 23/1/2020 11:38

Now that IS a new high @475p.

[montyhedge] 23/1/2020 11:23

Market makers taking the p-ss again on the spread.

[melton john] 21/1/2020 13:43

I agree with your point about the order book MRF, unless you have DMA you have to buy at the asking price or leave it. Sometimes though I have had a situation where the MM doesn't want to sell the NMS at the ASK and I have put in a limit buy for NMS at the ASK and got it.

[montyhedge] 21/1/2020 13:29

Market makers just scalping you on buy or sell spread.

[melton john] 21/1/2020 13:03

I just bought another 500, had to pay 459 and it shows as a sell on NEX. I think they're getting short of stock.

[luderitz] 20/1/2020 21:33

I suggested and have done it myself a few posts back, please keep up 😃

[joe say] 20/1/2020 07:21

Or do I as do, and place limit orders

[masurenguy] 19/1/2020 10:07

Good advice Luderitz. There are only circa 26.5m issued shares, which is a small number for a company in this sector with a market cap of circa £120m. Consequently liquidity has always been a bit of a problem and a volatile, and sometimes ridiculous, spread has been a factor here for many years. CLIG cannot control this except by perhaps initiating a share split of say 4 to 1 to increase liquidity but I don't think they have any particular motivation to undertake such an action.

As Luderitz states above, you can buy at a more realistic price if you are patient and wait for the spread to narrow during the trading sessions. On Friday for example, shares were purchased between 451p - 467p at different times of the day and the spread ranged from only 3p to as much as 106p.

[luderitz] 19/1/2020 07:16

If people don’t want to pay a wide spread (and who doesn’t) then do what I do and await your time in the day when the spread is to your liking and then buy.

[2wild] 18/1/2020 22:49

The recent spread of around 20p on a 450p share is ridiculous. On following the TU on Tuesday i got a few at
457p. Had it not been for the ripoff spread i would have brought more. My previous purchase was on 29.8.19 at 405p with a reasonable 400-405p spread. It's all very well to say investers set the price but most private investors are not able to place orders directly onto the order book, so are at the mercy of gready MMs if they wish to invest.

[luderitz] 18/1/2020 21:37

As said before CLIG has a widish spread so deal with it or not but please don’t come on here bleating about the fact.

[eggbaconandbubble] 18/1/2020 21:32

MRF, How tall are you?

[lynton3] 18/1/2020 09:44

Be careful about who you have a go at nobbyx. If I had meant day-trading gamblers, that is what I would have said. By shareholders I mean shareholders. Quite straight forward, really. I have a substantial holding in CLIG, which I have held for over 5 years; my average buying price is 253p.

I have often looked at buying more, but am put off by the spread. A wide spread generally indicates that the shares would be difficult to sell in poor conditions. Every now and then shareholders do sell. Even long term holders. CLIG can and should get their brokers to sort out the spread issue.

[eggbaconandbubble] 18/1/2020 07:53

Well said Nobby, plus - Aren't I correct in saying that a wide spread acts against fast buck traders dealing in a particular share? Surely they need a narrow spread and volatile prices?

CLIG is for LTH. Especially considering the generous divi.

[nobbyx] 17/1/2020 23:23

By 'shareholders' do you mean day-trading gamblers?
The spread has nothing to do with CLIG. In order to raise capital in the past CLIG issued Ordinary Shares to whowever had faith in the Company and was willing to buy them at the time for the price set by CLIG and its advisers. The decision about the pricing of subsequent sales and purchases of these 'second-hand' shares is not CLIG's business - it is the business of 'the market' over which CLIG has no control. The price of the shares is set by us guys depending how much we want to pay for them or how much we want for them if we decide to sell them.
Anyone wishing to make a quick buck by gambling on the market should leave companies like CLIG out of it.

[lynton3] 17/1/2020 15:25

Why doesn't CLIG get this spread issue sorted out for its shareholders?

[montyhedge] 17/1/2020 14:26

Market makers are taking the P-ss on the spread.