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March 13, 2023
Terminix Global Holdings, Inc., First Republic Bank, Western Alliance Bancorporation and others reached higher-than-usual trading volumes.
A recap of Friday's session: Leading equity indices in the US declined as S&P 500 shed 1.45% and closed at 3,861.59. Nasdaq closed at 11,139, a 1.76% change.
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.
Terminix | 482% above rolling average
Trading volume peaked at 25.88 million shares Friday, thereby obliterating the daily average of 5.37 million by 482%.
The residential and commercial pest control provider has shed 16% over the past six months. Pointing downwards for around 5 months.
First Republic Bank | 1,154% higher than rolling average
With 51.42 million shares traded Friday, First Republic Bank beat its daily average by 1,154% to cap off a frenetic trading day.
First Republic Bank hit a significant low of $81.76 around 3 days ago, but has since recovered 17.43%. On a negative trend for around a month.
First Republic Bank discloses 27 cents per share dividend to be paid on Thursday, February 9th
Western Alliance Bancorporation | 1,244% higher than rolling average
Trading volume was 24.67 million shares Friday — beating the daily average by a mammoth 1,244%.
Western Alliance Bancorporation hit a significant low of $49.34 around 3 days ago, but has since recovered 26.39%. Trending downwards for around a month.
Western Alliance Bancorporation discloses 36 cents per share dividend to be paid on Friday, March 3rd
— Average trading volume refers to a 21-day rolling average.
