Host Hotels & Resorts Inc, Duck Creek Technologies, Inc., Equinix and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Leading equity indices in the US declined as Dow Jones shed 1.26% and closed at 33,700. S&P 500 was down 1.38% before closing the session at 4,090.41.
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.
Host Hotels & Resorts | 248% higher than rolling average
The hotel-focused REIT has managed to gain 8.35% so far this year despite trading at lows around $15.4 previously. Host Hotels & Resorts's market cap currently stands at $12.41 billion with an average daily trading volume of 7 million shares.
Trading volume was 17.48 million shares yesterday — beating the daily average by a mammoth 248%.
Duck Creek Technologies | 190% above rolling average
Yesterday's trading volume was 2.55 million shares (surpassing the daily average by 190%).
The insurance carrier enabler has gained 51.85% since its lowest print of $10.24 earlier this year. The stock has been trending positively for about a month. With around 24 days of flat trade under its belt,
Equinix | 193% higher than rolling average
Trading volume was 669,243 shares yesterday — beating the daily average by a mammoth 193%.
Equinix hit a significant low of $505.39 around 4 months ago, but has since recovered 43.9%. The stock has been trending positively for about 4 months. Equinix's bearish run has lasted 4 days so far (-$11.62).
Equinix discloses $3.1 per share dividend to be paid on Wednesday, December 14th
Equinix was down, even though its quarterly earnings released on Wednesday beat the analysts’ estimates. The reported earnings of 7.09 per share on revenue of $1.87 billion, topping estimates of 5.9 per share on revenue of $1.84 billion.
— Average trading volume refers to a 21-day rolling average.