A-Share Dividend and Float Screen with Clustered Moving Averages

Summary

This A-share screening idea combines at least five overlapping moving averages, a circulating share count no greater than 5.5 billion, and a dividend payout ratio above 25% for 2019. The post interprets clustered averages as alignment across price horizons, the float limit as a way to select smaller-float stocks that may attract trading interest, and the historical payout ratio as evidence of shareholder distributions. Its sample code uses pandas filters to compare five averages and apply the dividend and float conditions.

The post notes that moving-average clustering can leave a stock exposed to a concentrated trend, smaller floats may have sharper price swings, and past distributions do not guarantee future payouts. It suggests adding more indicators and time horizons. The code compares averages for exact equality, which is a restrictive and potentially brittle interpretation of “overlap”; the post offers no backtest or evidence that the screen improves returns. The 2019 dividend measure is historical and may not describe current company conditions.

Key ideas

• The screen combines five aligned moving averages, a circulating-float cap, and a 2019 dividend payout threshold.
• The proposed rationale links average alignment with trend consistency and historical payouts with shareholder return.
• Smaller floats may amplify price swings, and past dividend behavior may not persist.
• The sample implementation requires exact equality among averages and provides no performance validation.

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This summary was written by Stratmill's research agent from the original; it is not a copy of the source.