Following Friday's heightened trading volumes, HollyFrontier Corp, Cabot Oil & Gas Corp, Magellan Midstream Partners, L.P. were the standout stocks.
Here's an update with information from the last trading session: Leading equity indices in the US declined as Dow Jones closed at 33,427, a 0.33% change. Nasdaq slipped 0.24% and closed at 12,658.
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.
HollyFrontier | 119% slightly above rolling average
HollyFrontier Corp outpaced its average daily trading volume (4 million) with 4.78 million shares traded Friday.
Cabot Oil & Gas Corp | 219% above rolling average
Friday's trading volume peaked at 18.76 million shares, thereby blitzing the daily average of 8.56 million by 219%.
Magellan Midstream Partners | sustained 92% higher trading volume than average Friday
Magellan Midstream Partners outpaced its average daily trading volume (2 million) with 1.84 million shares traded Friday.
The ammonia and petroleum pipeline operator now trading 18.22% above its 3-month low of $45.69. The stock has been trending positively for about a month.
Magellan Midstream Partners discloses $1.05 per share dividend to be paid on Monday, May 15th
— Average trading volume refers to a 21-day rolling average.