Shares of ITC Holdings (NYSE:ITC) Sees Large Outflow of Money

ITC Holdings (NYSE:ITC) : The total money flow in ITC Holdings (NYSE:ITC) was negative ($9.79 million), showing the domination of sellers in the Wednesday trading session. The traders utilized every rise to sell their positions, as seen in the value of trading on downtick to the tune of $17.09 million. Transactions on upticks were comparatively lower at $7.31 million. The uptick to downtick ratio was 0.43. The total block trades on downticks were valued at $9.96 million. The money flow during block trades was negative ($9.96 million) when the stock traded with a gain of $37 cent. ITC Holdings (NYSE:ITC) was $46.34, an increase of 0.8% over the previous days close.


In an insider trading activity,The officer (SVP & General Counsel) of Itc Holdings Corp., Mason Soneral Christine sold 8,616 shares at $44.54 on May 27, 2016. The Insider selling transaction had a total value worth of $383,757. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 3.2% of ITC Holdings shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 3% . Institutional Investors own 83.89% of ITC Holdings shares. During last six month period, the net percent change held by insiders has seen a change of 4.72%.

The company shares have rallied 42.99% from its 1 Year high price. On Jun 28, 2016, the shares registered one year high at $46.24 and the one year low was seen on Nov 6, 2015. The 50-Day Moving Average price is $44.97 and the 200 Day Moving Average price is recorded at $42.10. ITC Holdings (NYSE:ITC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $46.13 and $45.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.34, notching a gain of 0.80% for the day. The total traded volume was 1,691,956 . The stock had closed at $45.97 on the previous day.

ITC Holdings Corp. is an independent electricity transmission company in the United States. The Company operates, maintains and invests in transmission infrastructure. The Companys customers include investor-owned utilities, municipalities, cooperatives, power marketers and alternative energy suppliers. Its regional infrastructure includes four North Central Multi-Value Projects (MVPs) and the Thumb Loop Project. The Companys subsidiaries operations include asset planning; engineering, design and construction; maintenance, and real time operations. The Asset Planning group uses system models and load forecasts to develop its system expansion capital plans. The Engineering, Design and Construction group is engaged in the design, equipment specifications, maintenance plans and project engineering for capital, operation and maintenance work. The Company develops and tracks preventive maintenance plans. Its real time operations include system and local balancing authoring operations.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.