India, July 15 -- BlackRock, Inc. (BLK) shares dropped 5.74 to $1,047.69 in Tuesday trading, despite no major announcements from the company. The decline could have occurred as Clearwater Analytics (CWAN) announced new senior leadership hires to enhance its investment management technology platform, a move that some market watchers speculate could intensify competitive pressures in the asset management technology space with BlackRock in association.
BlackRock traded between $1,033.77 and $1,076.47 on volume of 1.28 million shares, more than double its average of 603,681 on the New York Stock Exchange. The stock remains near the upper end of its 52-week range of $773.74 to $1,112.13.
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