U.S. equity trading volume and volatility rise

U.S. equity trading volume has picked up over the last several months. March saw an average of 16 billion shares traded daily. In the eight months before the November election, the average daily volume ranged from 11 billion to 12.5 billion shares. November’s ADV jumped to 14.6 billion, and it increased in subsequent months.

Equity markets have been weaker over the past couple of months. The S&P 500 index dropped 1.4% and 5.8% in February and March, respectively.

With news of the tariffs and concerns about the economic impact, the Cboe volatility index jumped over the last few days, closing above 45 on April 4. The VIX rose in March, averaging 21.8 vs. 16.8 and 17 in January and February, respectively. The VIX closed at 17.4 on Dec. 31.

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