3 stocks garnering the highest trading volume amid today's declines

The following energy stocks (HollyFrontier Corp, Cabot Oil & Gas Corp, Continental Resources, Inc.) are reaching higher-than-usual volumes.

A short overview of the current market situation: The leading indices are slipping — Nasdaq trades at 11,964 after losing 1.34%. S&P 500 slipping 0.48% and closing at 4,080.72.

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.

Though trading was down yesterday, some energy stocks are currently at high volumes. Here is an update.

HollyFrontier | currently blitzing its average daily volume by 119%

A blockbuster trading session for HollyFrontier Corp, eclipsing its average daily volume by 119% and recording 4.78 million.

Cabot Oil & Gas Corp | beating its average daily volume by 219%

The company is currently trading with a market cap of $17 billion with an average daily volume of 8.56 million shares.

A hectic day for Cabot Oil & Gas Corp, surpassing its average daily volume by 219% to reach 18.76 million.

The Oklahoma-based petroleum producer is now trading 34.93% above the significant low ($55.02) it slumped to 10 months ago. The stock has been trending positively for about 6 months. With an average daily trading volume of 3.90 million shares.

— Average trading volume refers to a 21-day rolling average.