A busy day for Duke Realty Corp, CGI Inc., L3harris Technologies Inc, being the prominent large cap and over stocks displaying higher volumes than usual.
A recap of yesterday's session: Leading equity indices in the US declined as Nasdaq slipped 1.49% and closed at 10,546. S&P 500 closed at 3,817.66, a 0.9% change.
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 large cap and over stocks reached high volumes. Here is an update.
The US-based industrial REIT is now trading 9.9% below its 3-month high of $65.64. On a negative trend for around 3 months.
CGI | 300% above rolling average
Trading volume peaked at 356,247 shares yesterday, thereby obliterating the daily average of 118,433 by 300%.
CGI hit a significant low of $74 around 2 months ago, but has since recovered 15.44%. The stock has been trending positively for about 2 months.
L3Harris Technologies | 314% above rolling average
Early in yesterday's session, L3Harris dropped to $203.83 from $213.27 at the end of Friday, before closing at $205.55. During the session, it lost 3.62%.
Yesterday's trading volume was 2.97 million shares (surpassing the daily average by 314%).
— Average trading volume refers to a 21-day rolling average.