A busy day for Abiomed, Shaw Communications Inc., Xylem Inc, being the prominent large cap and over stocks displaying higher volumes than usual.
A quick recap of where the last trading session ended: Markets completed a mixed session yesterday, as Dow Jones closed the day at 33,734, having gained 0.31%. After dropping 0.27%, Nasdaq closed at 11,334.
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 large cap and over stocks were actively traded. Here's an update:
Abiomed | 506% higher than rolling average
Currently, the US-based medical device maker has a market capitalization of $17.18 billion with an average daily trading volume of 3.10 million shares.
With 15.70 million shares traded yesterday, Abiomed beat its daily average by 506% to cap off a frenetic trading day.
Shaw Communications | 339% higher than rolling average
Trading volume was 5.66 million shares yesterday — beating the daily average by a mammoth 339%.
The Canadian telecoms provider has managed to gain 4.66% so far this year despite trading at lows around $24 previously. The stock has been trending positively for about 2 months.
Shaw Communications's board sets quarterly dividend of 7.4 cents per share to be paid on Monday, January 30th; annual dividend yield esimated at 1%.
Xylem | 325% higher than rolling average
Xylem outpaced its average daily trading volume (1.46 million) with 4.73 million shares traded yesterday.
The water tech company has fallen back around 13.26% over the past 12 days, from a notable high of $116.93.
Xylem discloses 30 cents per share dividend to be paid on Tuesday, December 20th
— Average trading volume refers to a 21-day rolling average.