A busy day for Shaw Communications Inc., Playtika Holding Corp., Rogers Communications Inc., being the prominent communication_services stocks displaying higher volumes than usual.
Yesterday's session summary: Markets did not have a clear cut direction — Dow Jones closed the day at 33,600, having gained 0.3%. S&P 500 closed at 4,109 after a flat day.
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.
While trading was mostly sideways yesterday, several communication_services stocks were actively traded. Here's an update:
Shaw Communications | 473% higher than rolling average
Yesterday's trading volume peaked at 6.35 million shares, thereby blitzing the daily average of 1.34 million by 473%.
5 months ago, the Canadian telecoms provider fell to a low of $24 but has since recovered 24.68%. 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
Playtika | 296% above rolling average
Trading volume was 4.21 million shares yesterday — beating the daily average by a mammoth 296%.
The Israeli digital entertainment company is now trading 48.04% above the significant low ($7.89) it slumped to 3 months ago. Playtika has posted further gains as part of a 5 day trend that has already seen the stock gain 54 cents.
Rogers Communication | 144% higher than rolling average
Rogers Communication has posted further gains as part of a 5 day trend that has already seen the stock gain $1.82. Rogers Communication stayed on track yesterday: an influx of buyers helped the Canadian telecoms provider to end the session higher around $48.69, while establishing a $47.5 to $48.81 session range yesterday.
Yesterday's trading volume was 484,485 shares (surpassing the daily average by 144%).
— Average trading volume refers to a 21-day rolling average.