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March 11, 2023
The highest trading volumes during yesterday's session were recorded by: First Republic Bank, Western Alliance Bancorporation, PacWest Bancorp.
A recap of yesterday's session: Leading equity indices in the US declined as S&P 500 shed 1.45% and closed at 3,861.59. Nasdaq lost 1.76% and ended the session 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 yesterday, some stocks reached high volumes. Here is an update.
First Republic Bank | 1,148% higher than rolling average
Trading volume was 51.16 million shares yesterday — beating the daily average by a mammoth 1,148%.
First Republic Bank hit a significant low of $81.76 around a day ago, but has since recovered 17.43%. Pointing downwards for around a month.
First Republic Bank discloses 27 cents per share dividend to be paid on Thursday, February 9th
Western Alliance Bancorporation | 1,240% higher than rolling average
Western Alliance Bancorporation went down to $49.34 (20.88%), adding to its six days of losses. Western Alliance Bancorporation hit a significant low of $49.34 around a day ago, but has since recovered 26.39%. On a negative trend for around a month. Western Alliance Bancorporation has a market cap of $6.21 billion with an average daily volume of 1.98 million shares.
Western Alliance Bancorporation had a compelling day yesterday, with 24.59 million shares traded helping the company surpass its average daily volume by 1,240%.
PacWest Bancorp | 1,033% above rolling average
Yesterday's trading volume was 36.86 million shares (surpassing the daily average by 1,033%).
Having set a significant low of $12.35 a day ago, the multi-billion-dollar banking firm is trading 61.05% higher. Trending downwards for around a month.
PacWest Bancorp discloses 25 cents per share dividend to be paid on Tuesday, February 28th
— Average trading volume refers to a 21-day rolling average.
