Shares of Pinnacle West Capital Corporation (NYSE:PNW) Sees Large Outflow of Money

Pinnacle West Capital Corporation (NYSE:PNW): The stock had negative money flow to the tune of ($10.32 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $10.12 million, whereas, the outflow of money on downticks was $20.44 million and the ratio between the two was 0.5. The block trade had a negative net money flow of ($10.21 million). On the other hand, downticks amounted to $10.21 million of the traded value, which shows distribution in the stock by traders. Pinnacle West Capital Corporation (NYSE:PNW) closed with marginal gains of 9 cents to end the day at $79.14, an increase of 0.11% over the previous days close. The stock recorded 1.53% for the week.


In an insider trading activity,The director of Pinnacle West Capital Corp, Cortese Denis A. sold 2,000 shares at $72.87 on May 6, 2016. The Insider selling transaction had a total value worth of $145,740. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 0.7% of Pinnacle West Capital Corporation shares according to the proxy statements. Institutional Investors own 82.91% of Pinnacle West Capital Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -27.21%.

The company shares have rallied 37.29% from its 1 Year high price. On Jun 27, 2016, the shares registered one year high at $79.42 and the one year low was seen on Jul 1, 2015. The 50-Day Moving Average price is $75.10 and the 200 Day Moving Average price is recorded at $70.67. Pinnacle West Capital Corporation (NYSE:PNW): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $79.72 and $78.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $79.72. The buying momentum continued till the end and the stock did not give up its gains. It closed at $79.14, notching a gain of 0.11% for the day. The total traded volume was 814,373 . The stock had closed at $79.05 on the previous day.

Pinnacle West Capital Corporation is a holding company that operates primarily through its wholly owned subsidiaries is engaged in regulated retail and wholesale electricity businesses. The Companys operations primarily include electricity generation, transmission and distribution. The Companys subsidiaries include Arizona Public Service Company (APS), a vertically integrated electric utility that provides either retail or wholesale electric service to the State of Arizona, with the exceptions of about one-half of the Phoenix metropolitan area, the Tucson metropolitan area and Mohave County in northwestern Arizona; El Dorado Investment Company (El Dorado) and Bright Canyon Energy Corporation (BCE). APS provides electric service to approximately 1.2 million customers. APS has ownership interests in or leases the coal, nuclear, gas, oil and solar generating facilities.

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