Large Outflow of Money Witnessed in Western Digital Corporation

Western Digital Corporation (WDC) : Fridays money flow analysis of Western Digital Corporation (WDC) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $2.85 million. In comparison, the inflow of money on upticks was a meager $1.73 million. The dollar value of composite uptick trades minus the downtick trades was negative $1.13 million. The uptick to downtick ratio of 0.61 in the money flow shows weakness. The downtick transaction value was high at $1.42 million, which denotes distribution on strength.. Hence, the net money flow in the stock was negative ($1.42 million). Western Digital Corporation (WDC) gained $0.2 at $46.52, a change of 0.43% over the previous days close.


The company Insiders own 0.24% of Western Digital Corporation shares according to the proxy statements. Institutional Investors own 88.23% of Western Digital Corporation shares.

In a related news, Milligan Stephen D, CEO of Western Digital Corp, executed a transaction worth $1,024,425 on May 31, 2016. A total of 22,500 shares were purchased at an average price of $45.53. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Western Digital Corporation (NASDAQ:WDC): The stock opened at $46.88 and touched an intraday high of $47.7 on Friday. During the day, the stock corrected to an intraday low of $46.26, however, the bulls stepped in and pushed the price higher to close in the green at $46.97 with a gain of 1.40% for the day. The total traded volume for the day was 2,820,645. The stock had closed at $46.32 in the previous trading session.

On a relative basis, the stock has outperformed the S&P 500 by 3.55% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.09% in the last 1 week, and is up 3.41% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Western Digital Corporation, is a data storage solutions company. The Company is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Companys Technology product includes: Hard Disk Drives and Solid-State Drives. Hard Disk Drives, provide non-volatile data storage. Solid-State Drives, are semiconductor and non-volatile media. The Company offers solutions including: Enterprise Storage Solutions, Client Desktop and Notebook PCs, Branded Product Solutions, Consumer Electronics Solutions. The Companys products are marketed under the HGST, WD and G-Technology brand names.

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