Take a look at the following communication_services stocks that showed higher volumes than usual: Shaw Communications Inc., Telefónica, S.A., AT&T.
A quick recap of where the last trading session ended: Markets did not have a clear cut direction — Nasdaq closed 12,072 after a stable day. Dow Jones closed at 33,800 after a flat day.
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 Friday, several communication_services stocks were actively traded. Here's an update:
Shaw Communications | 473% above rolling average
Trading volume peaked at 6.35 million shares Friday, thereby obliterating the daily average of 1.34 million by 473%.
The Canadian ISP is now trading 24.68% above the significant low ($24) it slumped to 6 months ago. The stock has been trending positively for about a month. Shaw Communications has posted further gains as part of a 17 day trend that has already seen the stock gain $1.58.
Shaw Communications discloses 7.2 cents per share dividend to be paid on Thursday, March 30th
Telefonica | 439% above rolling average
The Spanish telecoms titan has managed to gain 21.7% so far this year despite trading at lows around $3.15 previously. The stock has been trending positively for about a month. Telefonica has a market cap of $25.53 billion with an average daily trading volume of 1 million shares.
Friday's trading volume was 4.58 million shares (surpassing the daily average by 439%).
AT&T | 221% higher than rolling average
AT&T outpaced its average daily trading volume (34.75 million) with 76.71 million shares traded Friday.
AT&T hit a significant low of $14.63 around 6 months ago, but has since recovered 20.64%.
AT&T's board sets quarterly dividend of 27.75 cents per share to be paid on Monday, May 1st; annual dividend yield esimated at 6.09%.
— Average trading volume refers to a 21-day rolling average.