ITC Holdings (ITC) : Wednesdays money flow data in ITC Holdings (ITC) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $12.14 million, whereas, $9.44 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.29, in favor of the bulls. The total money flow into the stock was $2.7 million clearly indicating that the smart money has been buying into the stock on weakness.
In comparison, the money flow in block deals was $3.42 million. The total value of block trades done on upticks was $6.2 million. The value of bearish trades on downticks was only $2.78 million.The up/down ratio in the block trades was a healthy 2.23 in favor of the bulls, suggesting strong buying in the stock by large traders. ITC Holdings (ITC) fell $0.03 and traded at $46.21, down -0.06% for the day, over previous days close. On a weekly basis, the shares are -0.67% over the previous weeks close.
ITC Holdings (NYSE:ITC): The stock opened at $46.27 on Wednesday but the bulls could not build on the opening and the stock topped out at $46.36 for the day. The stock traded down to $46.02 during the day, due to lack of any buying support eventually closed down at $46.21 with a loss of -0.06% for the day. The stock had closed at $46.24 on the previous day. The total traded volume was 1,360,094 shares.
The stock has recorded a 20-day Moving Average of 0.47% and the 50-Day Moving Average is 1.82%. In a related news, The Securities and Exchange Commission has divulged that Mason Soneral Christine, officer (SVP & General Counsel) of Itc Holdings Corp., had unloaded 8,616 shares at an average price of $44.54 in a transaction dated on May 27, 2016. The total value of the transaction was worth $383,757.
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.