| 
March 05, 2023
Valvoline Inc., HollyFrontier Corp, Sasol Limited and others reached higher-than-usual trading volumes.
A recap of Friday's session: Leading equity indices in the US rose as S&P 500 ended the session at 4,045.64 after a 1.61% gain. Nasdaq closed the day at 11,700, having gained 1.97%.
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 | 171% higher than rolling average
Trading volume peaked at 2.84 million shares Friday, thereby obliterating the daily average of 1.66 million by 171%.
The automotive oil manufacturer reached a significant high of $37.03 around 2 days ago but has lost 3.48% since then.
Valvoline discloses 12.5 cents per share dividend to be paid on Thursday, December 15th
HollyFrontier | 119% slightly above rolling average
With 4.78 million shares traded Friday, HollyFrontier beat its daily average by 119% to cap off a frenetic trading day.
11 months ago, the petroleum refineries company fell to a low of $29.34 but has since recovered 21.61%. The stock has been trending positively for about 11 months.
Sasol | 148% higher than rolling average
Sasol is up to $15.23 (1.06%), adding to its four consecutive days of gains. Sasol hit a significant low of $14.45 around 5 days ago, but has since recovered 4.29%. Pointing downwards for around a month. The chemicals company's market cap currently stands at $9.76 billion with an average daily trading volume of 248,194 shares.
Friday's trading volume peaked at 367,001 shares, thereby blitzing the daily average of 248,194 by 148%.
— Average trading volume refers to a 21-day rolling average.
