Life Storage, Inc., Duck Creek Technologies, Inc., Spirit Realty Capital, Inc. and others reached higher-than-usual trading volumes.
Yesterday's session summary: Leading equity indices in the US declined as after dropping 1.68%, Nasdaq closed at 11,900. S&P 500 was down 1.11% before closing the session at 4,118.
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 real_estate stocks reached high volumes. Here is an update.
Life Storage | 221% above rolling average
Yesterday's trading volume was 1.98 million shares (surpassing the daily average by 221%).
A month ago, the self-administered and self-managed equity REIT fell to a low of $95.23 but has since recovered 27.9%. The stock has been trending positively for about a month. On a 7 day uptrend,
Life Storage discloses $1.2 per share dividend to be paid on Thursday, January 26th
Duck Creek Technologies | outperformed daily volume average by 100% yesterday
Trading volume peaked at 2.54 million shares yesterday, thereby obliterating the daily average of 2.54 million by 100%.
The insurance carrier enabler has managed to gain 51% so far this year despite trading at lows around $10.24 previously. The stock has been trending positively for about a month. After a 17 day of trading sideways
Spirit Realty Capital | 197% above rolling average
The triple net-lease REIT has gained 10.97% since its lowest print of $34.72 earlier this year. The stock has been trending positively for about a month. Spirit Realty Capital is currently trading with a market cap of $6.15 billion with an average daily trading volume of 723,784 shares.
Spirit Realty Capital outpaced its average daily trading volume (723,784) with 1.42 million shares traded yesterday.
— Average trading volume refers to a 21-day rolling average.