Shares of Western Digital Corporation (NASDAQ:WDC) Sees Large Outflow of Money

Western Digital Corporation (NASDAQ:WDC) : The value of composite uptick trades was $54.7 million, whereas, the value of composite downtick trades was $66.57 million. The uptick to downtick ratio stood at 0.82 with a negative money flow of ($11.87) Million during Wednesdays trading session. The block trades money flow was negative ($11.65 million).The uptick to the downtick ratio of 0.19 in block trades signals that the large investors have utilized the rise in the stock to sell.The uptick transaction value stood at $2.78 million. The transaction of the trades on downticks amounted to $14.43 million, which confirms investors selling on the strength of price. Western Digital Corporation (NASDAQ:WDC) gained 199 cents at $45.6, an increase of 4.56% over the previous days close.


In an insider trading activity, Milligan Stephen D, CEO of Western Digital Corp had purchased 22,500 shares on May 31, 2016 in a transaction. The price per share was $45.53 and the total amount of the disclosed transaction was $1,024,425.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices. Currently the company Insiders own 0.24% of Western Digital Corporation shares according to the proxy statements. Institutional Investors own 81.91% of Western Digital Corporation shares.

The company shares have dropped -44.47% from its 1 Year high price. On Jul 30, 2015, the shares registered one year high at $88.46 and the one year low was seen on May 16, 2016. The 50-Day Moving Average price is $44.17 and the 200 Day Moving Average price is recorded at $46.79. Western Digital Corporation (NASDAQ:WDC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $44.57 and $43.97 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.17. The buying momentum continued till the end and the stock did not give up its gains. It closed at $45.60, notching a gain of 3.38% for the day. The total traded volume was 7,393,457 . The stock had closed at $44.11 on the previous day.

Western Digital Corporation, is a data storage solutions company. The Company is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Companys Technology product includes: Hard Disk Drives and Solid-State Drives. Hard Disk Drives, provide non-volatile data storage. Solid-State Drives, are semiconductor and non-volatile media. The Company offers solutions including: Enterprise Storage Solutions, Client Desktop and Notebook PCs, Branded Product Solutions, Consumer Electronics Solutions. The Companys products are marketed under the HGST, WD and G-Technology brand names.

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