In the past week, Santander Holdings USA (NYSE:SAN) has come into considerable focus among investors and that can be gauged from the price action in its stock. The Santander stock has gone up steadily in the past week and managed to clock gains of as much as 5% so far.
Trading Data
On Monday, SAN stock moved down 0.85% to $3.52 with more than 6.72 million shares, compared to its average volume of 6.75 million shares. The stock has moved within a range of $3.4500 – 3.5200 after opening trade at $3.48.
Latest News
There was no news about the company yesterday but last Friday it had come into focus after it emerged that the approval for the total acquisition of all outstanding shares in the company Santander Consumer USA Holdings Inc had been approved by the Board of Governors of the Federal Reserve System.
The news seems to have come as a source of optimism for investors and that was possibly the reason behind the rally in recent days. In this regard, it ought to be noted that Santander Holdings USA already owns some shares in the target company and hence, the rest of the shares are going to be picked up by it.
It may now be a good move for investors to keep an eye on all the developments over the course of the coming days with regards to this acquisition from the company.
Technical Data
SAN stock is above the 20-Day and 50-Day Moving averages of $3.48 and $3.31 respectively. However, the stock is trading below the 20-Day moving average of $3.63. The stock is up 8% in the past month.
