Duke Realty Corp, Sumitomo Mitsui Financial Group, Inc., Abiomed and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Markets did not have a clear cut direction — Dow Jones ended the session at 32,850 after a 0.28% gain. S&P 500 closed at 3,821.62 after a flat day.
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.
While trading was mostly sideways yesterday, several large cap and over stocks were actively traded. Here's an update:
Currently up 23 cents today, Duke Realty Corp is on course to break its 13-day losing run. Having set a significant high of $65.64 11 months ago, the US-based industrial REIT is trading 26.92% lower. Pointing downwards for around 3 months. The company's market cap currently stands at $18.56 billion
Sumitomo Mitsui Financial Group | 316% above rolling average
Sumitomo Mitsui Financial Group hit a significant low of $5.39 around 2 months ago, but has since recovered 27.46%. The stock has been trending positively for about 2 months. Sumitomo Mitsui Financial Group's market cap is currently $51.90 billion with an average daily trading volume of 2.56 million shares.
Sumitomo Mitsui Financial Group outpaced its average daily trading volume (2.56 million) with 8.11 million shares traded yesterday.
Abiomed | 213% above rolling average
Trading volume peaked at 2.39 million shares yesterday, thereby obliterating the daily average of 1.13 million by 213%.
The US-based medical device maker now trading 47.23% above its 3-month low of $224.73. The stock has been trending positively for about 2 months.
— Average trading volume refers to a 21-day rolling average.