Sasol Limited, HollyFrontier Corp, Antero Midstream Corporation and others reached higher-than-usual trading volumes.
Yesterday's session summary: Leading equity indices in the US declined as Dow Jones closed at 33,130, a 2.06% change. S&P 500 lost 2% and ended the session at 3,997.34.
Why trading volume matters?
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
Though trading was down yesterday, some energy stocks reached high volumes. Here is an update.
Sasol | 269% above rolling average
After ending Friday at $16.35, Sasol Limited declined to $14.95 yesterday before closing at $14.96, thereby losing 8.5% in total.
With 549,273 shares traded yesterday, Sasol beat its daily average by 269% to cap off a frenetic trading day.
HollyFrontier | 119% slightly greater than rolling average
HollyFrontier rose 71 cents to close at $36.39 yesterday which makes for a move of 2%.
Yesterday's trading volume was 4.78 million shares (surpassing the daily average by 119%).
Antero Midstream | 157% above rolling average
The midstream energy operator has recovered 20.11% since descending to a significant low of $8.85 around 4 months ago. Pointing downwards for around a month. The company is currently trading with a market cap of $4.96 billion with an average daily volume of 3.43 million shares.
Trading volume was 5.37 million shares yesterday — beating the daily average by a mammoth 157%.
— Average trading volume refers to a 21-day rolling average.