Benzinga | Sep 21, 2021 11:34AM EDT

Why RBC Bearings Shares Are Trading Lower Today

RBC Bearings (NASDAQ:ROLL) shares are trading lower after the company announced a common stock offering of 3 million shares and $400 million in aggregate liquidation preference of series A mandatory convertible preferred stock.

RBC Bearings is currently down 14.47% to a price of $184.37. The stock's current volume for the day is 437.62 thousand, which is approximately 635.87% of its previous 30-day average volume of 68.82 thousand.

The moving average price of the stock over the past 50 days was $220.62 at the time this article was published. In the past fifty-two weeks, the stock price has been as high as $250.52 and as low as $113.4.

If you're looking for timely and concise explanations of why a stock is moving, check out Benzinga Pro. Subscribers get 'Why Is It Moving' alerts as soon as our research team identifies the cause of the price action in a stock. Click here to learn more.