Abiomed, Signify Health, Inc., ICON Public Limited Company had the highest volumes Friday.
Here's an update with information from the last trading session: Leading equity indices in the US rose as Dow Jones ended the session at 34,100 after a 0.8% gain. S&P 500 closed the day at 4,169.48, having gained 0.83%.
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.
Price action was mostly bullish Friday with some healthcare stocks recording abnormally high trading volumes. Here's a recap:
Abiomed | 506% above rolling average
Friday's trading volume peaked at 15.70 million shares, thereby blitzing the daily average of 3.10 million by 506%.
The stock has been trending positively for about 3 months.
Signify Health | 261% higher than rolling average
Following a month of flat trade, Pointing in a similar direction, Friday's session was more of the same — Signify Health moves 0.07% to close at $30.49 Friday.
Trading volume was 9.63 million shares Friday — beating the daily average by a mammoth 261%.
ICON | 296% above rolling average
The clinical research vendor is now trading 14.1% below its 3-month high of $247.5. Trending downwards for around 2 months. The clinical research vendor's market cap currently stands at $15.75 billion with an average daily trading volume of 595,414 shares.
With 1.76 million shares traded Friday, ICON beat its daily average by 296% to cap off a frenetic trading day.
— Average trading volume refers to a 21-day rolling average.