Large Outflow of Money Witnessed in Arconic Inc.

Shares of Arconic Inc. (ARNC) traded 2.13 points or 9.39% higher at $24.86.The total intraday money flow for the shares came in at a disappointing $(-2.21) million. The total upticks amounted to $40.06 million and the total downticks were approximately $42.27 million, with the up/down ratio of 0.95. On a different note, the shares have seen 10.02% price change during the week.In a block trade which occurred during the day, the stock had an inflow of $5.54 million in upticks and an outflow of $7.36 million in downticks. The up/down ratio for the block was found to be 0.75. The net money flow for the block transaction was $(-1.82) million.Block trades are executed by Investment Banking firms or Wealth Managers shifting positions or Day traders taking advantage of trading signals.

Shares of Arconic Inc. rose by 11.41% in the last five trading days and 36.35% for the last 4 weeks. Arconic Inc. is up 18.03% in the last 3-month period. Year-to-Date the stock performance stands at 36.35%. Arconic Inc. (NYSE:ARNC) rose 11.22% or 2.55 points on Wednesday and made its way into the gainers of the day. After trading began at $23.27 the stock was seen hitting $25.5 as a peak level and $23.09 as the lowest level. The stock ended up at $25.28. The daily volume was measured at 16,385,366 shares. The 52-week high of the share price is $25.5 and the 52-week low is $16.75. The company has a market cap of $11,085 million.

Arconic was carved out of aluminum giant Alcoa on November 1, 2016. The company describes itself as a global leader in multi-material, precision engineered products and solutions for a variety of industries.

Arconic

Share this post

Leave a Reply