SoftBank Group (OTCMKTS:SFTBF) Shares Cross Above 50 Day Moving Average – Here’s Why

SoftBank Group Corp. (OTCMKTS:SFTBF)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $57.47 and traded as high as $58.54. SoftBank Group shares last traded at $58.54, with a volume of 594 shares trading hands.

SoftBank Group Price Performance

The firm’s 50 day simple moving average is $57.47 and its 200-day simple moving average is $58.01.

Institutional Trading of SoftBank Group

An institutional investor recently bought a new position in SoftBank Group stock. Atlas Capital Advisors LLC purchased a new position in shares of SoftBank Group Corp. (OTCMKTS:SFTBF) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,000 shares of the company’s stock, valued at approximately $178,000. Institutional investors and hedge funds own 25.02% of the company’s stock.

About SoftBank Group

SoftBank Group Corp. provides telecommunication services in Japan and internationally. It operates through Investment Business of Holding Companies, SoftBank Vision Funds, SoftBank, Arm, and Other segments. The company offers mobile communications and solutions to enterprise customers, and broadband services to retail customers; and sells mobile devices and software tools, as well as related services.