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April 08, 2023
The highest trading volumes during Thursday's session were recorded by: Extra Space Storage Inc, Douglas Emmett, Inc., STORE Capital Corporation.
Here's an update with information from the last trading session: Leading equity indices in the US rose as Nasdaq closed the day at 12,100, having gained 0.76%. S&P 500 gained 0.36% and closed at 4,105.
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 Thursday with some real_estate stocks recording abnormally high trading volumes. Here's a recap:
Extra Space Storage | 119% slightly greater than rolling average
Extra Space Storage Inc had a compelling day Thursday, with 2.16 million shares traded helping the company surpass its average daily volume by 119%.
The Utah-based REIT now trading 13.3% above its 3-month low of $141.04. Extra Space Storage has posted further gains as part of a 4 day trend that has already seen the stock gain $5.51.
Extra Space Storage discloses $1.62 per share dividend to be paid on Friday, March 31st
Douglas Emmett | 100% slightly greater than rolling average
Douglas Emmett outpaced its average daily trading volume (3.98 million) with 4 million shares traded Thursday.
The office space REIT is now trading 15.22% above the significant low ($10.84) it slumped to 16 days ago. Douglas Emmett has posted further gains as part of a 6 day trend that has already seen the stock gain 48 cents.
Douglas Emmett's board sets quarterly dividend of 19 cents per share to be paid on Friday, April 14th; annual dividend yield esimated at 5.91%.
STORE Capital Corporation | 157% higher than rolling average
STORE Capital Corporation moves 0% to close at $32.21 Thursday.
With 4 million shares traded Thursday, STORE Capital Corporation beat its daily average by 157% to cap off a frenetic trading day.
— Average trading volume refers to a 21-day rolling average.
