Duke Realty Corp, Nielsen Holdings plc, Autodesk and others reached higher-than-usual trading volumes.
A recap of yesterday's session: Leading equity indices in the US rose as Nasdaq gained 0.99% and closed at 11,300. S&P 500 ended the session at 4,027.26 after a 0.59% gain.
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 yesterday with some large cap and over stocks recording abnormally high trading volumes. Here's a recap:
Duke Realty levels up 0.48% in yesterday's session; traders eye opening bell in a day time
Duke Realty Corp rose 23 cents to close at $48.2 yesterday which makes for a move of 0.48%.
Nielsen | 393% above rolling average Nielsen maintains composure within $27.97 to $28 range
Nielsen outpaced its average daily trading volume (5.71 million) with 22.43 million shares traded yesterday. Nielsen moves 0.04% to close at $28 yesterday.
Having set a significant low of $16.61 8 months ago, the information, data and market measurement firm is trading 68.39% higher. So far in 2022, it has performed better than the Nasdaq by 73.26%. Nielsen has a market cap of $10 billion with an average daily trading volume of 5.71 million shares. Nielsen expected revenue of $905.65 million with an EPS of 48 cents.
Autodesk | 368% above rolling average Autodesk sheds 5.66% within $188 to $199.67 daily range
Yesterday's trading volume peaked at 6.27 million shares, thereby blitzing the daily average of 1.70 million by 368%. After ending Tuesday at $208.9, Autodesk declined to $188 yesterday before closing at $197.07, thereby losing 5.66% in total.
The 3D architecture software company is trading 33.86% lower compared to the $304 high it reached over the past year. So far in 2022, it has been outperforming the Nasdaq by 11.38%. Autodesk is currently trading with a market cap of $42.54 billion with an average daily volume of 1.70 million shares.
The company reported earnings of 1.03 per share Tuesday, falling short of expectations of 1.07. Revenue was also lower than expected at $1.28 billion versus $1.28 billion. Since the release of its earnings report, Autodesk lost 4.57%
— Average trading volume refers to a 21-day rolling average.