The following communication_services stocks experienced higher volumes than usual including Shaw Communications Inc., Telefônica Brasil S.A., DISH Network Corp and others.
A recap of yesterday's session: Leading equity indices in the US declined as Nasdaq slipped 0.85% and closed at 11,929. After dropping 0.41%, S&P 500 closed at 4,092.
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 communication_services stocks reached high volumes. Here is an update.
Shaw Communications | 473% higher than rolling average
Shaw Communications Inc. had a compelling day yesterday, with 6.35 million shares traded helping the company surpass its average daily volume by 473%.
The Canadian ISP has appreciated 26.1% over the past six months. The stock has been trending positively for about a month. Shaw Communications has posted further gains as part of a 17 day trend that has already seen the stock gain $1.58.
Shaw Communications discloses 7.2 cents per share dividend to be paid on Thursday, March 30th
Telefonica | 346% above rolling average
Telefonica is up 17 cents to $8.14, building upon seven consecutive days of gains. The Brazilian telecoms group has managed to gain 26.11% so far this year despite trading at lows around $6.49 previously. The company has a market cap of $13.53 billion with an average daily trading volume of 1.99 million shares.
Trading volume was 6.89 million shares yesterday — beating the daily average by a mammoth 346%.
DISH | 131% slightly greater than rolling average
The direct-broadcast satellite provider drops by 9.42% (84 cents), its largest single-day drop since Feb 27. Early in yesterday's session, DISH dropped to $8 from $8.92 at the end of Tuesday, before closing at $8.08. During the session, it lost 9.42%.
DISH had a compelling day yesterday, with 11.42 million shares traded helping the company surpass its average daily volume by 131%.
— Average trading volume refers to a 21-day rolling average.