BlackRock Inc. (BLK) traded on unusually high volume on Dec. 06, as the stock lost 1.33% to close at $400.23. On the day, BlackRock Inc. saw 1.38 million shares trade hands on 27,088 trades. Considering that the stock averages only a daily volume of 893,269 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 $376.31 over the last 52-weeks, its 50-day SMA is now $425.32, and its 200-day SMA $490.22. BlackRock Inc. has a P/B ratio of 1.96. It also has a P/E ratio of 11.7.
BlackRock is the largest asset manager in the world, with $6.444 trillion in AUM at the end of September 2018. Product mix is fairly diverse, with 54% of the firm’s managed assets in equity strategies, 29% in fixed income, 8% in multi-asset class, 7% in money market funds, and 2% in alternatives. Passive strategies account for two thirds of long-term AUM, with the company’s iShares ETF platform maintaining a leading market share both domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for 80% of total AUM. BlackRock is geographically diverse as well, with clients in more than 100 countries and more than one third of its AUM coming from investors domiciled outside the United States and Canada.
Headquartered in New York, NY, BlackRock Inc. has 14,900 employees and is currently under the leadership of CEO Laurence D. Fink.