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June 01, 2023
Following today's heightened trading volumes, Terminix Global Holdings, Inc., Enel Américas S.A., Umpqua Holdings Corporation were the standout stocks.
Today's session summary: Leading equity indices in the US rose as S&P 500 gained 0.99% and closed at 4,221. Nasdaq ended the session at 13,100 after a 1.28% 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 today with some stocks recording abnormally high trading volumes. Here's a recap:
Terminix | 482% higher than rolling average
Trading volume was 25.88 million shares today — beating the daily average by a mammoth 482%.
The pest control company has fallen back around 16.64% over the past 9 months, from a notable high of $45.66. Trending downwards for around 7 months.
Enel Americas | 3,026% higher than rolling average
During today's session, Enel Americas toiled and struggled for upward momentum before closing at $4.81. By the close, the the electric energy company suffered a 24 cents or 4.75% loss.
With 32.43 million shares traded today, Enel Americas beat its daily average by 3,026% to cap off a frenetic trading day.
Umpqua Bank | 1,000% higher than rolling average
Umpqua Bank had a compelling day today, with 24.81 million shares traded helping the company surpass its average daily volume by 1,000%.
The local business bank has fallen back around 15.62% from the significant high of $20.93 set 6 months ago. Pointing downwards for around 3 months.
— Average trading volume refers to a 21-day rolling average.
