Shares of ITC Holdings (ITC) Sees Large Outflow of Money

ITC Holdings (ITC) : Thursdays money flow analysis of ITC Holdings (ITC) 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 $12.54 million. In comparison, the inflow of money on upticks was a meager $2.48 million. The dollar value of composite uptick trades minus the downtick trades was negative $10.07 million. The uptick to downtick ratio of 0.2 in the money flow shows weakness. The downtick transaction value was high at $7.74 million, which denotes distribution on strength.. Hence, the net money flow in the stock was negative ($7.74 million). ITC Holdings (ITC) gained $0.04 at $46.88, a change of 0.07% over the previous days close.


The stock has recorded a 20-day Moving Average of 1.17% and the 50-Day Moving Average is 3.47%. Shares have rallied 40.41% from its 1 Year high price. On Jul 6, 2016, the shares registered one year high at $47.46 and the one year low was seen on Nov 6, 2015. The 50-Day Moving Average price is $45.59 and the 200 Day Moving Average price is recorded at $42.63.

ITC Holdings (NYSE:ITC): The stock opened at $46.93 on Thursday but the bulls could not build on the opening and the stock topped out at $47.07 for the day. The stock traded down to $46.68 during the day, due to lack of any buying support eventually closed down at $46.76 with a loss of -0.17% for the day. The stock had closed at $46.84 on the previous day. The total traded volume was 758,200 shares.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (SVP & General Counsel) of Itc Holdings Corp., Mason Soneral Christine had sold 8,616 shares worth of $383,757 in a transaction dated May 27, 2016. In this transaction, 8,616 shares were sold at $44.54 per share.

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.

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