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June 09, 2023
Take a look at the following stocks that showed higher volumes than usual: Terminix Global Holdings, Inc., Enel Américas S.A., Umpqua Holdings Corporation.
A recap of yesterday's session: Markets closed higher yesterday; Nasdaq gained 1.02% and closed at 13,239. S&P 500 ended the session at 4,294 after a 0.62% 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 yesterday with some stocks recording abnormally high trading volumes. Here's a recap:
Terminix | 482% higher than rolling average
Yesterday's trading volume was 25.88 million shares (surpassing the daily average by 482%).
9 months ago the residential and commercial pest control provider reached a significant high of $45.66 but has consequently lost 16.64% since then. On a negative trend for around 8 months.
Enel Americas | 3,026% higher than rolling average
Enel Americas hit a significant low of $3.88 around 10 months ago, but has since recovered 30.15%. With an average daily trading volume of 1 million shares.
Trading volume was 32.43 million shares yesterday — beating the daily average by a mammoth 3,026%.
Umpqua Bank | 1,000% above rolling average
The financial holding company is now trading 15.62% below the significant high of $20.93 it set around 6 months ago. Trending downwards for around 4 months. Currently, the financial holding company has a market capitalization of $3.83 billion with an average daily volume of 2.48 million shares.
With 24.81 million shares traded yesterday, Umpqua Bank beat its daily average by 1,000% to cap off a frenetic trading day.
— Average trading volume refers to a 21-day rolling average.
