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March 14, 2023
Pembina Pipeline Corporation, Pioneer Natural Resources Co, Sasol Limited led the pack during yesterday's heightened trading volumes.
Here's an update with information from the last trading session: Markets completed a mixed session yesterday while Nasdaq ended the session at 11,200 after a 0.45% gain. Dow Jones was down 0.28% before closing the session at 31,819.
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.
While trading was mostly sideways yesterday, several energy stocks were actively traded. Here's an update:
Pembina Pipeline | 224% above rolling average
Trading volume was 1.49 million shares yesterday — beating the daily average by a mammoth 224%.
The pipeline transport company is now trading 22.56% below the significant high of $42.37 it set around 9 months ago. Trending downwards for around a month.
Pembina Pipeline discloses 16.14 cents per share dividend to be paid on Friday, December 30th
Pioneer Natural Resources | 159% above rolling average
Yesterday's trading volume peaked at 5.46 million shares, thereby blitzing the daily average of 3.43 million by 159%.
A day ago, the hydrocarbon explorer fell to a low of $195.36 but has since recovered 1.75%. On a negative trend for around a month.
Pioneer Natural Resources's board sets quarterly dividend of $5.58 per share to be paid on Friday, March 17th; annual dividend yield esimated at 11.43%.
Sasol | 161% above rolling average
With 521,627 shares traded yesterday, Sasol beat its daily average by 161% to cap off a frenetic trading day.
Sasol hit a significant low of $13.2 around a day ago, but has since recovered 3.56%. Pointing downwards for around a month.
— Average trading volume refers to a 21-day rolling average.
