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June 18, 2023
The following stocks experienced higher volumes than usual including BWX Technologies, Inc., Terminix Global Holdings, Inc., Graphic Packaging Holding Company and others.
Friday's session summary: Leading equity indices in the US declined as Nasdaq closed at 13,700, a 0.68% change. S&P 500 slipped 0.37% and closed at 4,409.59.
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.
Though trading was down Friday, some stocks reached high volumes. Here is an update.
BWX Technologies | 840% above rolling average
BWX Technologies, Inc. outpaced its average daily trading volume (1.35 million) with 11.33 million shares traded Friday.
The engineering services company reached a significant high of $69.73 around 2 days ago but has lost 2.87% since then.
BWX Technologies discloses 23 cents per share dividend to be paid on Thursday, June 8th
Terminix | 482% above rolling average
Approximately 10 months ago, the residential and commercial pest control provider reached a significant high of $45.66 but has struggled to hold onto its gains and declined 16.64% since then. On a negative trend for around 8 months. With an average daily trading volume of 5.37 million shares.
With 25.88 million shares traded Friday, Terminix beat its daily average by 482% to cap off a frenetic trading day.
Graphic Packaging | 933% above rolling average
Having set a significant high of $26.96 6 days ago, the Fortune 500 packaging manufacturer is trading 2.93% lower. The stock has been trending positively for about 8 months. The company has a market cap of $7.99 billion with an average daily volume of 5.67 million shares.
Trading volume peaked at 52.94 million shares Friday, thereby obliterating the daily average of 5.67 million by 933%.
— Average trading volume refers to a 21-day rolling average.
