Kellogg Company (K) traded on unusually high volume on Nov. 02, as the stock lost 1.56% to close at $63.00. On the day, Kellogg Company saw 4.8 million shares trade hands on 35,358 trades. Considering that the stock averages only a daily volume of 2.3 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $74.98 and $56.40 over the last 52-weeks, its 50-day SMA is now $71.03, and its 200-day SMA $66.91. Kellogg Company has a P/B ratio of 7.69. It also has a P/E ratio of 12.1.
Kellogg Co is engaged in the manufacturing and marketing of ready-to-eat cereal and convenience foods. Its products include cereal, cookies, crackers, and other packaged foods.
Headquartered in Battle Creek, MI, Kellogg Company has 33,000 employees and is currently under the leadership of CEO Steven A. Cahillane.