FirstEnergy Corp. (FE) traded on unusually high volume on Oct. 08, as the stock gained 0.18% to close at $38.05. On the day, FirstEnergy Corp. saw 5.77 million shares trade hands on 29,732 trades. Considering that the stock averages only a daily volume of 3.54 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 $38.37 and $29.34 over the last 52-weeks, its 50-day SMA is now $36.87, and its 200-day SMA $33.77. FirstEnergy Corp. has a P/B ratio of 2.45.
FirstEnergy Corp is a diversified energy company. It is involved in the generation, transmission and distribution of electricity. It operates in segments such as Regulated Distribution, Regulated Transmission and CES.
Headquartered in Akron, OH, FirstEnergy Corp. has 15,617 employees and is currently under the leadership of CEO Charles E. Jones.