Medical Properties Trust, Inc., Park Hotels & Resorts Inc., SL Green Realty Corp. led the pack during yesterday's heightened trading volumes.
Yesterday's session summary: Markets closed higher yesterday, as Nasdaq ended the session at 11,500 after a 1.76% gain. S&P 500 closed the day at 4,060.43, having gained 1.1%.
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:
Medical Properties Trust | 218% higher than rolling average
After ending Wednesday at $12.39, Medical Properties Trust, Inc. went up to $12.76 only to drop back, yet still traded well overall and closed at $12.58 yesterday.
Medical Properties Trust had a compelling day yesterday, with 27.66 million shares traded helping the company surpass its average daily volume by 218%.
Park Hotels & Resorts | 200% above rolling average
Trading volume was 6.36 million shares yesterday — beating the daily average by a mammoth 200%.
America's 2nd largest publicly traded lodging REIT has managed to gain 16.81% so far this year despite trading at lows around $11.09 previously. The stock has been trending positively for about a month. Park Hotels & Resorts has posted further gains as part of a 4 day trend that has already seen the stock gain $1.28.
Park Hotels & Resorts discloses 25 cents per share dividend to be paid on Tuesday, January 17th
SL Green | 217% above rolling average
Having soared to a high of $83.92 approximately 9 months ago, the US REIT is now trading 55.16% lower. The stock has been trending positively for about a month. SL Green's market cap currently stands at $2.39 billion with an average daily volume of 1 million shares.
With 2.29 million shares traded yesterday, SL Green beat its daily average by 217% to cap off a frenetic trading day.
— Average trading volume refers to a 21-day rolling average.