Take a look at the following real estate stocks: Duke Realty Corp, Vornado Realty Trust, KE Holdings Inc. and others showed higher volumes than usual.
A quick recap of where the last trading session ended: Markets were up yesterday; S&P 500 closed the day at 3,853, having gained 0.75%. Nasdaq ended the session at 10,459 after a 0.69% 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 real estate stocks recording abnormally high trading volumes. Here's a recap:
After a month of level trading, Duke Realty Corp went up. Yesterday's session shows improvement: Duke Realty rose 23 cents to close at $48.2 yesterday which makes for a move of 0.48%.
Vornado Realty Trust | 194% above rolling average
Approximately 9 months ago, the Manhattan real estate specialist reached a significant high of $46.98 but has struggled to hold onto its gains and declined 55.24% since then. The company has a market cap of $4.38 billion with an average daily trading volume of 4.92 million shares.
Yesterday's trading volume peaked at 9.55 million shares, thereby blitzing the daily average of 4.92 million by 194%.
KE Holdings | 207% higher than rolling average
The housing transactions platform traded at $16.26 yesterday, after making its biggest single-day jump of $1.45 (9.79%) since December 2022. KE Holdings has posted further gains as part of a 3 day trend that has already seen the stock gain 85 cents. Yesterday's session pointed in the same direction — after closing yesterday at $16.26, the housing transactions platform peaked at $16.38 before giving up early gains and closing at $16.26.
KE Holdings had a compelling day yesterday, with 31.27 million shares traded helping the company surpass its average daily volume by 207%.
— Average trading volume refers to a 21-day rolling average.