BAE Systems (OTCMKTS:BAESF) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of BAE Systems plc (OTCMKTS:BAESF) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.81 and traded as high as $28.20. BAE Systems shares last traded at $26.96, with a volume of 37,075 shares traded.

BAE Systems Stock Performance

The company has a 50-day moving average of $24.44 and a two-hundred day moving average of $24.81.

Institutional Inflows and Outflows

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) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 259,233 shares of the company’s stock, valued at approximately $7,160,000. BAE Systems makes up about 1.3% of Saranac Partners Ltd’s portfolio, making the stock its 17th largest position. 40.72% of the stock is owned by hedge funds and other institutional investors.

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.