NEW YORK (AVAFIN) -- A total of 702 block trades were executed during the market session,
typically at least 10,000 shares or more represent a single block unit. Block
trading activity shows that $32,555,755 worth of shares were bought
and $19,891,621 worth of shares were sold by institutional investors.
The positive net cash flow of $12,664,133 into the
stock shows that investment houses have positive outlook for shares
of Sprint Nextel.
A deeper look into options trading also reveals that traders hedged their positions with options
where 4,168 put and 26,790 call contracts exchanged hands leading to a 0.16
put/call ratio.
The last trading session witnessed a low of $2.90 and high of $3.11 during the day. Shares of Sprint Nextel
gained $0.16 (+5.44%) to $3.10. The current trading volume of 59M is greater
than average volume of 50M shares. The stock's 52 week low is $2.10 and 52 week high is $5.75. Within the last quarter, the shares have gained 10.71% of their value.
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Sprint Nextel is the third-largest carrier in the United States, serving 47 million customers directly and 6.3 million via resellers using two separate nationwide networks. About 13% of sales come from the long-distance unit, which provides fixed-line phone and data services. The firm spun off its fixed-line local phone business in 2006, acquired Virgin Mobile in 2009, and owns a roughly 53% stake in Clearwire.
