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May 30, 2023
Following Friday's heightened trading volumes, Digital Realty Trust Inc, Equinix, Apartment Income REIT Corp. were the standout stocks.
Friday's session summary: Markets closed higher Friday, as Nasdaq gained 2.19% and closed at 12,976. S&P 500 ended the session at 4,205.45 after a 1.3% gain.
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.
Price action was mostly bullish Friday with some real_estate stocks recording abnormally high trading volumes. Here's a recap:
Digital Realty Trust | 244% above rolling average
Digital Realty Trust Inc hit a significant low of $86.49 around 6 days ago, but has since recovered 6.63%. The company is currently trading with a market cap of $28.81 billion with an average daily trading volume of 2.56 million shares.
Friday's trading volume peaked at 6.25 million shares, thereby blitzing the daily average of 2.56 million by 244%.
Equinix | 163% above rolling average
Trading volume peaked at 705,181 shares Friday, thereby obliterating the daily average of 431,487 by 163%.
Equinix hit a significant low of $505.39 around 7 months ago, but has since recovered 39.94%. The stock has been trending positively for about 2 months. Equinix has posted further gains as part of a 3 day trend that has already seen the stock gain $32.08.
Equinix's board sets quarterly dividend of $3.41 per share to be paid on Wednesday, June 21st; annual dividend yield esimated at 1.87%.
AIR | 165% higher than rolling average
Over the past 9 months, the real estate investment trust has retreated 25.15% from a noteworthy peak of $46.13. The company has a market cap of $5.17 billion with an average daily trading volume of 799,115 shares.
AIR outpaced its average daily trading volume (799,115) with 1.32 million shares traded Friday.
— Average trading volume refers to a 21-day rolling average.
