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Prominent healthcare infrastructure real-estate investor, Welltower Inc. (NYSE: WELL) retained its consistent performance, and so did its share price. Currently, WELL stock price is trading near its 52-week high, while several entities reportedly increased their stake in the S&P 500 listed real estate investment trust.
Increasing Stakes in Welltower Inc.
The asset management and investment firm, Xponance, filed 13F with the US SEC which highlighted the holdings in Welltower Inc. by 2.2%. The increased accumulation of WELL shares took place in the first quarter of 2023. A recent purchase of 1,295 shares in the company made the institutional investor the firm owner of its 59,542 shares. The asset management fund’s overall holdings in the real estate investment firm are worth over $4.26 Million.
Another wealth manager, HB Wealth Management LLC, revealed its new position in Welltower in a filing with the Securities and Exchange Commission (SEC). During Q1 2023, the management firm bought 3,166 shares of Welltower worth $227K.
WELL Stock Price Movement
Welltower Inc. (NYSE: WELL) stock price has climbed 0.62% in the last intraday session. Currently, it is trading at $80.89. The trading session remained favorable for the broader stock market where major indices also traded in green. The S&P 500 Index rose by 1.23%, while the Dow Jones Industrial Average saw an uptick of 0.84%.
As mentioned above, WELL stock price maintained close to its 52-week high of $86 attained in July last year.
Welltower Inc. (NYSE: WELL) stock price has been trading inside an interesting rising pattern over the daily time frame chart. WELL stock price needs to maintain the upside trend to reach the distribution phase. However, sellers are trying to short the market for WELL shares to pull WELL share price towards the lower trendline of the rising wedge pattern.
Meanwhile, 20-EMA may act as support to WELL stock price to initiate its recovery phase over the charts. Nevertheless, WELL shares are trying to maintain above the $79.30 primary support zone. WELL share price must acquire buyers by the opening of Monday’s trading session.
In addition, WELL share price has recovered around 3.81% in a week and 9.98% in the last month. Moreover, WELL stock price has surged around 21.62% year to date. This demonstrates the expandable performance of WELL shares from the start of the year.
Technical indicators suggest the upside trend of WELL shares. Relative strength index showcases the upward momentum of WELL share price. RSI was at 58 and is heading towards the overbought territory.
MACD exhibits the upward velocity of WELL shares. However, the MACD line is about to cross the signal line upwards, registering a positive crossover. Investors in Welltower Inc. need to wait until WELL stock price sustains at the current level to march towards the distribution phase.
While maintaining its upward trend streak for two days now, WELL stock has continued to outperform stock prices of companies in its competition. Ventas Inc. (NYSE: VTR) rose by 0.21%, HealthPeak Properties Inc. (NYSE: PEAK) rose 0.60, Medical Properties Trust Inc. (NYSE: MPW) gained 0.11% during the similar timeframe.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
