| 
June 13, 2023HollyFrontier Corp, Cabot Oil & Gas Corp, National Fuel Gas Company had the highest volumes yesterday.
A quick recap of where the last trading session ended: Markets closed higher yesterday; Nasdaq closed the day at 13,462, having gained 1.53%. S&P 500 gained 0.93% and closed at 4,339.
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 energy stocks recording abnormally high trading volumes. Here's a recap:
HollyFrontier | 119% slightly above rolling average
HollyFrontier Corp outpaced its average daily trading volume (4 million) with 4.78 million shares traded yesterday.
Cabot Oil & Gas Corp | 219% above rolling average
Trading volume was 18.76 million shares yesterday — beating the daily average by a mammoth 219%.
National Fuel Gas | 159% higher than rolling average
Yesterday's trading volume peaked at 756,453 shares, thereby blitzing the daily average of 475,960 by 159%.
The diversified energy company has recovered 4.24% since descending to a significant low of $50.42 around 28 days ago.
National Fuel Gas discloses 47.5 cents per share dividend to be paid on Friday, April 14th
— Average trading volume refers to a 21-day rolling average.
