Large Inflow of Money Detected in Bank Of New York Mellon Corporation (The)

Bank Of New York Mellon Corporation (The) (BK): $1.13 million was the positive money flow into the stock on Wednesday and the up/down ratio of ticks was also in favor of the bulls at 3.34. The value of trades done on upticks was $1.62 million, whereas, trades done on downticks were valued at $0.48 million. Money flows are calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades. large traders, also sometimes called as the smart money, block traded $1.21 million worth stocks on upticks, which is a bullish indication. The money flow in block trades was $1.21 million. Bank Of New York Mellon Corporation (The) (BK) fell $0.03 traded at $39.68, a change of -0.08% over the previous day. The stock is -0.28% for the week.


Also, Major Brokerage house, Jefferies maintains its ratings on Bank Of New York Mellon Corporation (The) (NYSE:BK). In the latest research report, Jefferies lowers the target price from $41 per share to $38 per share. According to the latest information available, the shares are now rated Hold by the analysts at the agency. The rating by the firm was issued on July 11, 2016.

Bank Of New York Mellon Corporation (The) (NYSE:BK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $40.00 and $39.52 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.03. The buying momentum continued till the end and the stock did not give up its gains. It closed at $40.01, notching a gain of 0.76% for the day. The total traded volume was 4,815,397 . The stock had closed at $39.71 on the previous day.

The stock has recorded a 20-day Moving Average of 3.21% and the 50-Day Moving Average is 0.23%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Chairman & CEO) of Bank Of New York Mellon Corp, Hassell Gerald L had sold 24,598 shares worth of $1,002,614 in a transaction dated May 19, 2016. In this transaction, 24,598 shares were sold at $40.76 per share.

The Bank of New York Mellon Corporation is a provider of financial products and services in domestic and international markets. Through its two principal businesses, Investment Management and Investment Services, it serves institutions, corporations and high net worth individuals. For institutions and corporations, it provides investment management, trust and custody, foreign exchange, fund administration, global collateral services, securities lending, depositary receipts, corporate trust, global payment/cash management, banking services and clearing services. For individuals, it provides mutual funds, separate accounts, wealth management and private banking services. BNY Mellons investment management businesses provide investment products in different asset classes and investment styles. The Company has $28.5 trillion in assets under custody and/or administration and $1.7 trillion in assets under management as of December 31, 2014.

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