S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
In a challenging economic climate, Corporate Asset Backed Corp's preferred stock (PFH) has recorded a new 52-week low, dipping to $16.92. With a substantial market capitalization of $33.67 billion and a P/E ratio of 14.6, InvestingPro data indicates the stock's RSI suggests oversold territory. This latest price level reflects a significant downturn from the previous year, with PFH experiencing a 1-year change of -15.05%. Despite the decline, the company maintains a strong dividend history, having raised dividends for 16 consecutive years. Investors are closely monitoring the stock as it navigates through market volatility, with the 52-week low serving as a critical indicator of the company's current performance amidst broader financial pressures. InvestingPro offers 12 additional key insights about PFH's financial health and market position.
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