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.
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Recent news
On 22 June 2021, the company announced its merger with investment manager Milton Corporation Limited (ASX: MLT).
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.
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%.
With a share price of $33.50 at the time of writing, Soul Pattinson has a market capitalisation of $7.92 million, and a price-to-earnings-ratio (P/E) of 8.09.
