How Digital Turbine Shares Rose 35% in September
Shares of Digital Turbine (NASDAQ: APPS) gained 35.4% in September, according to data from S&P Global Market Intelligence. The company, which specializes in the distribution and monetization of mobile apps, didn't have much news to share last month, but some large investors did increase their holdings of its stock.
Digital Turbine's trading volume skyrocketed on Sept. 15 and Sept. 16 -- two otherwise perfectly normal days in this company's corner of Wall Street. It's true that mobile device titan Apple (NASDAQ: AAPL) held a closely watched event on Sept. 15, but that presentation skipped over the next generation of iPhones to focus on new iPads and wearables. Digital Turbine's investors are more interested in the smartphone market.
The stock's trading volumes told the real tale here. Both ordinary shares and call options changed hands at approximately double their normal volumes, pointing to large purchases by institutional investors. SEC filings will eventually show us exactly who executed these market-moving transactions.
Source Fool.com
