| 
June 08, 2023The highest volumes today go to: Valvoline Inc., HollyFrontier Corp, Cabot Oil & Gas Corp.
A short overview of the current market situation: The leading indices are climbing up — Nasdaq up to 13,232, gaining 0.97%. Dow Jones goes up 0.49%, trading at 33,830.
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 up yesterday, some energy stocks have high volumes. Take a look.
Valvoline | beating its average daily volume by 135%
Valvoline Inc. is having an eventful day so far, currently at 4.49 million and outpacing its average daily volume by 135%.
The automotive oil manufacturer has recovered 53.69% since descending to a significant low of $25.05 around 7 months ago. The stock has been trending positively for about 2 months.
HollyFrontier | 4.78 million traded volume so far today exceeding the daily average by 119%
Currently, the diversified energy company has a market capitalization of $7.14 billion with an average daily volume of 4 million shares.
HollyFrontier is having an eventful day so far, currently at 4.78 million and outpacing its average daily volume by 119%.
Cabot Oil & Gas Corp | trading volume soars by 219%
The hydrocarbon exploration company's market cap currently stands at $17 billion with an average daily trading volume of 8.56 million shares.
Cabot Oil & Gas Corp is having an eventful day so far, currently at 18.76 million and outpacing its average daily volume by 219%.
— Average trading volume refers to a 21-day rolling average.
