Shaw Communications Inc., Perion Network Ltd., Warner Music Group Corp. and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Nasdaq closed the day at 11,079, having gained 0.71%. S&P 500 gained 0.4% and closed at 3,999.
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 communication services stocks recording abnormally high trading volumes. Here's a recap:
Shaw Communications | 146% higher than rolling average
Shaw Communications Inc. outpaced its average daily trading volume (1.45 million) with 2.11 million shares traded Friday.
After hitting an important low of $24 approximately 3 months ago, the Canadian telecoms provider has bounced back 20.63% since. The stock has been trending positively for about 2 months. After a 9 day of trading sideways
Shaw Communications's board sets quarterly dividend of 7.4 cents per share to be paid on Monday, January 30th; annual dividend yield esimated at 1.03%.
Perion | 222% higher than rolling average
Perion Network is up 67 cents to $30, building upon five consecutive days of gains. The digital advertising company has gained 19.96% since its lowest print of $17.15 earlier this year. Currently, the digital advertising company has a market capitalization of $1.34 billion with an average daily trading volume of 427,688 shares.
Friday's trading volume peaked at 948,436 shares, thereby blitzing the daily average of 427,688 by 222%.
Warner Music | 241% higher than rolling average
Friday's trading volume was 3.45 million shares (surpassing the daily average by 241%).
So far this year, the world's 3rd largest recording company has declined 7.44% while touching highs around $44.45 earlier this year. Having fallen $4.14 in 5 days,
Warner Music discloses 16 cents per share dividend to be paid on Thursday, December 1st
— Average trading volume refers to a 21-day rolling average.