BAE Systems (OTCMKTS:BAESF) Shares Cross Below 200-Day Moving Average – Should You Sell?

Shares of BAE Systems plc (OTCMKTS:BAESF) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.65 and traded as low as $22.85. BAE Systems shares last traded at $23.67, with a volume of 29,352 shares trading hands.

BAE Systems Stock Performance

The stock’s 50 day moving average price is $23.26 and its 200-day moving average price is $24.65.

Institutional Investors Weigh In On BAE Systems

An institutional investor recently bought a new position in BAE Systems stock. Saranac Partners Ltd acquired a new position in shares of BAE Systems plc (OTCMKTS:BAESF) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 259,233 shares of the company’s stock, valued at approximately $7,160,000. BAE Systems accounts for about 1.3% of Saranac Partners Ltd’s holdings, making the stock its 17th largest holding. Institutional investors and hedge funds own 40.72% of the company’s stock.

BAE Systems Company Profile

BAE Systems PLC is a British multinational defence, security and aerospace company formed in 1999 through the merger of British Aerospace and Marconi Electronic Systems. Headquartered in London, the company operates across the full lifecycle of military and security platforms, from concept and design through production, in-service support and upgrades. BAE Systems is recognized for delivering advanced technology solutions to governments and prime contractors around the world.

In its aerospace segment, BAE Systems designs and manufactures combat aircraft, electronic warfare systems and unmanned aerial vehicles.