CubeSmart (CUBE) traded on unusually high volume on Nov. 14, as the stock gained 1.61% to close at $29.75. On the day, CubeSmart saw 2.35 million shares trade hands on 13,970 trades. Considering that the stock averages only a daily volume of 1.35 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 $33.18 and $25.22 over the last 52-weeks, its 50-day SMA is now $28.69, and its 200-day SMA $28.82. CubeSmart has a P/B ratio of 3.27. It also has a P/E ratio of 34.4.
CubeSmart is a real estate investment trust that acquires, owns, and manages self-storage facilities throughout the United States. Its portfolio consists of buildings with numerous enclosed storage areas for both residential and commercial customers.
Headquartered in Malvern, PA, CubeSmart has 2,508 employees and is currently under the leadership of CEO Christopher P. Marr.