BlackRock Inc. (BLK) Moves Higher on Volume Spike for August 27

Equities Staff  |

BlackRock Inc. (BLK) traded on unusually high volume on Aug. 27, as the stock gained 1.24% to close at $410.51. On the day, BlackRock Inc. saw 1.07 million shares trade hands on 18,117 trades. Considering that the stock averages only a daily volume of 561,035 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $492.00 and $360.79 over the last 52-weeks, its 50-day SMA is now $453.39, and its 200-day SMA $429.04. BlackRock Inc. has a P/B ratio of 2. It also has a P/E ratio of 15.5.

BlackRock is the largest asset manager in the world, with $6.515 trillion in AUM at the end of March 2019. Product mix is fairly diverse, with 52% of the firm's managed assets in equity strategies, 12% in fixed income, 8% in multi-asset class, 7% in money market funds, and 2% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's iShares ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for just over 80% of total AUM. BlackRock is also geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the United States and Canada.

Headquartered in New York, NY, BlackRock Inc. has 16,000 employees and is currently under the leadership of CEO Laurence D. Fink.

For a complete fundamental analysis analysis of BlackRock Inc., check out Equities.com’s Stock Valuation Analysis report for BLK.

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To get more information on BlackRock Inc. and to follow the company’s latest updates, you can visit the company’s profile page here: BLK’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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