Polar Capital (POLR) touches 52-week high as trading volume jumps before results
Polar Capital Holdings Plc jumped 8.0% Tuesday to 891p, hitting a new one-year high. The specialist fund manager outpaced the FTSE AIM 100, which added 0.22%. Shares touched 904p in the session, more than twice their 52-week low of 435p, ahead of full-year results set for Wednesday. The main takeaway from Tuesday’s session is that the rally outpaced the size of the buyback. The company picked up 17,000 shares at an average of 826.2244p each on June 29, for a total spend of about £140,458. That represented around 2.5% of Tuesday’s turnover, calculated from the 631,190 shares traded and the 891p close.