BlackRock Inc. (BLK) traded on unusually high volume on Oct. 09, as the stock lost 2.49% to close at $459.71. On the day, BlackRock Inc. saw 873,091 shares trade hands on 14,601 trades. Considering that the stock averages only a daily volume of 532,630 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 $594.52 and $460.16 over the last 52-weeks, its 50-day SMA is now $476.34, and its 200-day SMA $514.03. BlackRock Inc. has a P/B ratio of 2.3. It also has a P/E ratio of 14.3.
BlackRock Inc provides investment management services to institutional clients and to individual investors. Its products include single- and multi-asset portfolios investing in equities, fixed income, alternatives and money market instruments.
Headquartered in New York, NY, BlackRock Inc. has 14,100 employees and is currently under the leadership of CEO Laurence D. Fink.