As Plus500’s (LON:PLUS) share price inches its way back up to the highs seen in August, the has filed the latest details of its share buyback program via the London Stock Exchange (LSE) this Friday, revealing that the firm has once again, purchased thousands of its own ordinary shares.
According to the document seen by Finance Magnates, yesterday on 24th September 2020, Plus500 repurchased 26,250 of its own ordinary shares, each through Credit Suisse Securities (Europe) Limited.
This is notably less than the broker’s average as, overall, the company repurchases between 30,000 and 35,000 of its own ordinary shares and spends close to £500,000 per batch, with the occasional exception. In total, the trading company is planning on repurchasing $67.3 million worth of its own shares in its latest share buyback program.
For its latest batch of shares, the volume weighted average price paid per share by the company was £15.20. Therefore, the broker spent around £398,939.63 for its ordinary shares on Thursday.
The lowest price paid per share was £15.08 and the highest price paid per share by the online trading provider of contracts for differences (CFDs) was £15.38, the document details.
BlackRock Sells Shares in Plus500
Earlier this week, BlackRock, a New York-based asset management company, announced that it had in Plus500 following a sell-off and now holds less the 5 per cent of the brokerage’s shares
The asset manager took a little in the Israel based broker in September of 2018. That decision was made when the broker’s shares slumped at around 20 per cent from its record high, which was achieved in August 2018.
However, Plus500 shares have continued to go down, even after the institutional interest, before pivoting to a steady bull run since April last year.
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