First Citizens BancShares, Inc. - Depositary Shares (FCNCP) saw a notable decline in its stock price on January 10, 2025, closing at $21.94, down 2.86% from the previous day's close of $22.59. The stock opened at $22.36 and fluctuated between a high of $22.47 and a low of $21.86 throughout the trading day. The trading volume was significantly higher than usual, with 20,908 shares changing hands, representing 140.75% of the average daily volume of 14,855 shares.
The downward pressure on FCNCP's stock price appears to be influenced by recent changes in institutional holdings, particularly the significant reduction by Nordea Investment Management AB, which cut its stake by 41.7% in the fourth quarter. This move, along with adjustments by other institutional investors, may have contributed to the negative market sentiment. Despite the broader institutional interest, the stock faced selling pressure, reflecting the impact of these portfolio adjustments.