Shares of Bank of Nova Scotia (The) (BNS) Sees Large Outflow of Money

Bank of Nova Scotia (The) (BNS) : Net money flow in Bank of Nova Scotia (The) (BNS) was negative ($0.25 million) and the inflow of money on uptick was $0.07 million, whereas, the outflow of money on downticks amounted to $0.32 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.22. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $0.1 million. The money flow in block trades was negative ($0.1). Bank of Nova Scotia (The) (BNS) gained $0.01 cent during the day and reached $50.36, a gain of 0.02% over the previous day.


Also, Equity Analysts at the Brokerage Firm, Macquarie, downgrades their rating on the shares of Bank of Nova Scotia (The) (NYSE:BNS). Macquarie has a Neutral rating on the shares. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on June 9, 2016.

Bank of Nova Scotia (The) (NYSE:BNS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $50.26 and $50.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $50.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $50.49, notching a gain of 0.28% for the day. The total traded volume was 557,755 . The stock had closed at $50.35 on the previous day.

The stock has recorded a 20-day Moving Average of 2.18% and the 50-Day Moving Average is 2.53%.

The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services, including retail, commercial, corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking, International Banking, Scotia Capital and Global Wealth Management. The Canadian Banking segment provided a range of banking and investing services to more than 7.7 million customers across Canada, through a network of 1,190 branches, 3,869 automated banking machine (ABMs), as well as telephone, Internet banking and third-party channels. International Banking includes Scotiabanks retail and commercial banking operations in more than 55 countries outside Canada. Global Wealth Management (GWM) consists of wealth management insurance and Global Transaction Banking businesses.

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