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June 24, 2023
Valvoline Inc., Cheniere Energy, Inc., EOG Resources, Inc. and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Leading equity indices in the US declined as after dropping 0.77%, S&P 500 closed at 4,348.33. Nasdaq shed 1% and closed at 13,500.
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 yesterday, some energy stocks reached high volumes. Here is an update.
Valvoline | 247% above rolling average
Having set a significant high of $38.83 23 days ago, the automotive oil manufacturer is trading 6.57% lower. The company has a market cap of $5.98 billion with an average daily volume of 3.98 million shares.
Valvoline had a compelling day yesterday, with 9.84 million shares traded helping the company surpass its average daily volume by 247%.
Cheniere Energy | 193% above rolling average
Yesterday's trading volume peaked at 3.91 million shares, thereby blitzing the daily average of 2 million by 193%.
The US natural gas producer is now trading 16.88% below the significant high of $179.86 it set around 7 months ago. On a negative trend for around 3 months.
Shareholders to attain annual dividend yield of 1.06% this year
EOG Resources | 206% above rolling average
Trading volume was 8.30 million shares yesterday — beating the daily average by a mammoth 206%.
The US energy company reached a significant high of $148.26 around 7 months ago but has lost 27% since then.
EOG Resources discloses 82.5 cents per share dividend to be paid on Friday, April 28th
— Average trading volume refers to a 21-day rolling average.
