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April 17, 2023
Following today's heightened trading volumes, Hudson Pacific Properties, Inc., Equity LifeStyle Properties, Inc., Rexford Industrial Realty, Inc. were the standout stocks.
A recap of today's session: Markets closed higher today, as Dow Jones closed the day at 34,000, having gained 0.3%. S&P 500 gained 0.33% and closed at 4,151.32.
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 real_estate stocks recording abnormally high trading volumes. Here's a recap:
Hudson Pacific Properties, Inc. | 156% higher than rolling average
The REIT went up to $5.9, gaining 4.61%.
Trading volume peaked at 7.40 million shares today, thereby obliterating the daily average of 4.74 million by 156%.
Equity Lifestyle Properties | 215% above rolling average
Today's trading volume was 1.83 million shares (surpassing the daily average by 215%).
Having soared to a high of $82.74 approximately 11 months ago, the US manufactured home supplier is now trading 22.95% lower.
Equity Lifestyle Properties discloses 44.8 cents per share dividend to be paid on Friday, April 14th
Equity Lifestyle Properties is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 0.75 and the consensus revenue estimate is $368 million.
Rexford Industrial | 187% higher than rolling average
Pronounced bullish sentiment in the market helped the Californian industrial real estate firm to make a notable 1.73% gain today, rising 93 cents and ultimately closing at $54.61.
Rexford Industrial outpaced its average daily trading volume (1.49 million) with 2.78 million shares traded today.
— Average trading volume refers to a 21-day rolling average.
