Oracle Corporation (NASDAQ:ORCL) will be replaced by Tesla Motors, Inc.


Dallas, Texas 07/10/2013 (Financialstrend) – Shares of Oracle Corporation (NASDAQ:ORCL) have been continuously declining after the recent announcement that the company will be replaced by Tesla Motors, Inc. in the composition of the NASDAQ 100 Index. Owing to the increase in market capitalization of the electric vehicles manufacturer, the company managed to enter into the prime NASDAQ 100 Index by replacing Oracle Corporation (NASDAQ:ORCL).

Furthermore, the shares of Oracle Corporation (NASDAQ:ORCL) will be trading ex-dividend from July 10 2013. The company announced that the shareholders of Oracle Corporation (NASDAQ:ORCL) will be paid a dividend of 12 cents per share. The dividend will be paid on August 02, 2013 and all the shareholders who hold the shares of Oracle Corporation (NASDAQ:ORCL) as of the market close of July 10, 2013 will be entitled to receive it.

The recently announced cash dividend payment of $0.12 per share declined by 33.33 percent compared to the dividends paid in the previous quarter of this fiscal year.

After reaching the intraday high price of $31.60, the share price of Oracle Corporation (NASDAQ:ORCL) closed at $31.51 with an intraday low price of $31.23. The share price of Oracle Corporation (NASDAQ:ORCL) decreased by 0.41 percent, closing on Tuesday at $31.50. The 52-week high price of Oracle Corporation (NASDAQ:ORCL) is $36.43 and the 52-week low price stood at $28.61. With 4.71 billion total outstanding shares, the market capitalization of Oracle Corporation (NASDAQ:ORCL) is $148.46 billion. The intraday share trading volume for yesterday was 28.85 million, whereas the average trading volume of Oracle Corporation (NASDAQ:ORCL) heads up to 31.34 million. Institutional ownership in Oracle Corporation (NASDAQ:ORCL) records a contribution of 62 percent of the company’s total outstanding shares.