Braskem (NYSE:BAK) Shares Gap Up – What’s Next?

Braskem S.A. (NYSE:BAK) gapped up before the market opened on Monday . The stock had previously closed at $4.84, but opened at $4.99. Braskem shares last traded at $5.04, with a volume of 169,077 shares trading hands.

Braskem Stock Performance

The firm has a 50 day moving average price of $4.44 and a 200-day moving average price of $5.73.

Institutional Trading of Braskem

A number of institutional investors and hedge funds have recently modified their holdings of BAK. American Century Companies Inc. grew its position in shares of Braskem by 1.6% in the second quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after purchasing an additional 1,807 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Braskem by 876.1% in the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock worth $40,000 after acquiring an additional 4,871 shares during the last quarter. State Street Corp increased its holdings in shares of Braskem by 2.3% during the 3rd quarter. State Street Corp now owns 228,110 shares of the company’s stock worth $1,674,000 after purchasing an additional 5,124 shares during the period. MQS Management LLC bought a new position in Braskem during the third quarter valued at about $77,000. Finally, R Squared Ltd acquired a new position in shares of Braskem in the fourth quarter valued at $44,000.

About Braskem

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.