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April 25, 2023
Shaw Communications Inc., Fox Corp, Twenty-First Century Fox Inc. led the pack during yesterday's heightened trading volumes.
A recap of yesterday's session: Markets completed a mixed session yesterday while Nasdaq slipped 0.29% and closed at 12,037. Dow Jones gained 0.2% and closed at 33,875.
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 communication_services stocks were actively traded. Here's an update:
Shaw Communications | 473% above rolling average
Shaw Communications Inc. outpaced its average daily trading volume (1.34 million) with 6.35 million shares traded yesterday.
Having set a significant low of $24 6 months ago, the Canadian ISP is trading 24.68% higher. The stock has been trending positively for about a month. Shaw Communications has posted further gains as part of a 17 day trend that has already seen the stock gain $1.58.
Shaw Communications discloses 7.2 cents per share dividend to be paid on Thursday, March 30th
Fox Corp | 337% above rolling average
Yesterday's trading volume was 11.12 million shares (surpassing the daily average by 337%).
Fox Corp hit a significant low of $28.17 around 5 months ago, but has since recovered 19.35%. Trending downwards for around 2 months. Over the last 10 days, Fox Corp has fallen 4.53%.
Twenty-First Century Fox | 358% higher than rolling average
Trading volume peaked at 3.62 million shares yesterday, thereby obliterating the daily average of 1 million by 358%.
After hitting an important low of $26.57 approximately 5 months ago, the US entertainment company has bounced back 16% since. Pointing downwards for around 2 months. Having fallen 65 cents in 10 days,
— Average trading volume refers to a 21-day rolling average.
