Ion Geophysical Corporation (NYSE:IO) Position Reduced by Bank of New York Mellon Corp
Bank of New York Mellon Corp decreased its stake in shares of Ion Geophysical Corporation (NYSE:IO) by 25.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,914 shares of the oil and gas company’s stock after selling 6,969 shares during the period. Bank of New York Mellon Corp’s holdings in Ion Geophysical Corporation were worth $102,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in IO. Dimensional Fund Advisors LP increased its stake in shares of Ion Geophysical Corporation by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 267,254 shares of the oil and gas company’s stock valued at $1,604,000 after buying an additional 1,508 shares during the period. Renaissance Technologies LLC increased its position in Ion Geophysical Corporation by 69.6% in the fourth quarter. Renaissance Technologies LLC now owns 259,106 shares of the oil and gas company’s stock worth $1,555,000 after buying an additional 106,324 shares during the period. Norges Bank bought a new position in Ion Geophysical Corporation during the fourth quarter worth $508,000. Finally, Algert Global LLC increased its position in Ion Geophysical Corporation by 90.3% in the first quarter. Algert Global LLC now owns 42,959 shares of the oil and gas company’s stock worth $208,000 after buying an additional 20,380 shares during the period. 35.51% of the stock is currently owned by institutional investors.
Ion Geophysical Corporation (NYSE IO) traded down 0.74% during trading on Friday, hitting $5.40. 131,271 shares of the stock were exchanged. The stock has a 50 day moving average price of $4.03 and a 200-day moving average price of $4.50. The firm’s market capitalization is $64.17 million. Ion Geophysical Corporation has a 12-month low of $3.20 and a 12-month high of $8.40.
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Separately, ValuEngine raised shares of Ion Geophysical Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th.
About Ion Geophysical Corporation
ION Geophysical Corporation is a technology-focused company. It provides geophysical technology, services and solutions to the global oil and gas industry. Its offerings are designed to enable oil and gas exploration and production (E&P) companies to obtain images of the Earth’s subsurface. It offers services and products through three segments: E&P Technology & Services, E&P Operations Optimization, and Ocean Bottom Services.
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