| 
June 11, 2023A busy day for Valvoline Inc., HollyFrontier Corp, Cabot Oil & Gas Corp, being the prominent energy stocks displaying higher volumes than usual.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Dow Jones closed the day at 33,877, having gained 0.13%. Nasdaq gained 0.16% and closed at 13,259.
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 energy stocks recording abnormally high trading volumes. Here's a recap:
Valvoline | 248% higher than rolling average
After ending Thursday at $38.48, Valvoline Inc. declined to $36.86 Friday before closing at $37.14, thereby losing 3.48% in total.
Friday's trading volume was 8.51 million shares (surpassing the daily average by 248%).
HollyFrontier | 119% slightly greater than rolling average
HollyFrontier climbs 2% to close at $36.39 Friday.
Trading volume was 4.78 million shares Friday — beating the daily average by a mammoth 119%.
Cabot Oil & Gas Corp | 219% higher than rolling average
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 outpaced its average daily trading volume (8.56 million) with 18.76 million shares traded Friday.
— Average trading volume refers to a 21-day rolling average.
