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March 12, 2023The highest trading volumes during Friday's session were recorded by: Sasol Limited, HollyFrontier Corp, Pembina Pipeline Corporation.
A recap of Friday's session: Leading equity indices in the US declined as S&P 500 closed at 3,861.59, a 1.45% change. Nasdaq shed 1.76% and closed at 11,139.
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 energy stocks reached high volumes. Here is an update.
Sasol | 145% higher than rolling average
An influx of sellers pushed the chemicals company to session lows around $13.6 while establishing a $13.6 to $13.92 session range Friday.
Trading volume peaked at 443,148 shares Friday, thereby obliterating the daily average of 305,129 by 145%.
HollyFrontier | 119% slightly greater than rolling average
The diversified energy company is now trading 2.54% below the significant high of $36.61 it set around 11 months ago. The stock has been trending positively for about a year. With an average daily trading volume of 4 million shares.
Friday's trading volume peaked at 4.78 million shares, thereby blitzing the daily average of 4 million by 119%.
Pembina Pipeline | 164% above rolling average
The pipeline transport company reached a significant high of $42.37 around 9 months ago but has lost 21.43% since then. Trending downwards for around a month. Pembina Pipeline's market cap is currently $18 billion with an average daily volume of 612,201 shares.
Friday's trading volume was 1 million shares (surpassing the daily average by 164%).
— Average trading volume refers to a 21-day rolling average.
