Equity liquidity analysis shows volume up 21 per cent over May
Volumes in June jumped dramatically in the 10 most liquid names, according to broker Abel/Noser’s June liquidity analysis.
The top 10 names, in terms of average dollars traded per day, were almost identical for both months.
The only change being in May, SPD Gold (GLD) was the eighth most active issue trading USD1.6bn a day. GLD dropped to 11th place in June and was replaced by Pfizer (PFE) which traded USD2.3bn as the sixth most liquid name.
“The most interesting part of the study notes that the sum of the 10 most liquid names in June traded 21 per cent more dollars than in May,” says Bill Conlin, president and chief executive, Abel/Noser. “Of the 10 most liquid issues in June, four are ETFs (SPY, IWM, EEM, and QQQ) and they increased 35 per cent.”
Dollars traded in the 50 most liquid stocks, which make up 37 per cent of all dollars traded in the US, were up 19 per cent June over May.
“Tesla (TSLA) is one of the more interesting stocks month over month,” says Conlin, “Tesla traded nearly USD1.3bn a day in May, but in June dropped from the 11th spot all the way down to the 30th. In May, Tesla traded USD0.9bn, a significant 32 per cent drop in trading dollars.”
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