Following today's heightened trading volumes, Duke Realty Corp, Abiomed, GFL Environmental Inc. were the standout stocks.
A recap of today's session: Leading equity indices in the US rose as Dow Jones ended the session at 34,200 after a 0.64% gain. Nasdaq closed the day at 11,000, having gained 0.64%.
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.
Price action was mostly bullish today with some large cap and over stocks recording abnormally high trading volumes. Here's a recap:
The US-based industrial REIT reached a significant high of $65.35 around 4 months ago but has lost 26.6% since then. Trending downwards for around 4 months.
Abiomed | 793% higher than rolling average
Abiomed had a compelling day today, with 15.70 million shares traded helping the company surpass its average daily volume by 793%.
The past 3 months have been positive for the US-based medical device maker as it added 56.71% compared to its 3-month low of $224.73. The stock has been trending positively for about 3 months.
GFL Environmental | 340% higher than rolling average
With 4.67 million shares traded today, GFL Environmental beat its daily average by 340% to cap off a frenetic trading day.
The waste management company has recovered 25.77% since descending to a significant low of $23.94 around 2 months ago. Trading mostly sideways for 2 months.
GFL Environmental discloses 1.2 cents per share dividend to be paid on Monday, October 31st
— Average trading volume refers to a 21-day rolling average.