Shares in the diversified investment house reached all-time highs in today’s session, extending this months gains.
The post Soul Patts (ASX: SOL) share price hits all-time high appeared first on The Motley Fool Australia. –
The Washington H. Soul Pattinson (ASX: SOL) share price set a record high today, reaching a top of $33.62 intraday, before dropping down to $33.50 at market close.
Today’s trading volume of 348,200 is also 60% more than the 20 day average of 316,580 shares changing hands.
With no specific news out today, let’s take a look at what the diversified investment house has been up to recently.
The proposed merger will see Milton shareholders given a combination of Soul Pattinson’s scrips and three fully franked dividends worth up to 45 cents per share.
Combined, the offered scrips and dividends are worth $6 per share. Together, the two companies will create an ~$10.8 billion investment company.
The Soul Patts share price had a muted reaction on the day of the news, lifting by 0.83%, but the following day rocketed by a substantial 8.46%.
Soul Pattinson share price snapshot
Soul Patts shares have a 52-week trading range of $19.10–$33.62. The company’s 52-week low occurred on 29 June 2020.
At the time of writing, the Soul Patts share price has climbed 10.36% year-to-date, and has jumped 9.7% over the past 5 days.
These capital gains have outpaced the S&P/ASX 200 Index (ASX: XJO)’s year-to-date return of 9.2%.
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.