At the close of trading on Wednesday June 22, 2022, a total volume of 34.47m units of shares of Oando Plc valued at N184.97m were traded. 

This represents 15.03% of the total market volumes of 229.37m while the value of OANDO shares traded represents 5.79% of the total market value traded which was put at N3.19bn.

Furthermore, the volume traded represents 0.28% of OANDO’s total shares outstanding put at 12.43bn shares while the value of the shares traded also represents 0.26% of OANDO market capitalization of N70.86bn as of June 22, 2022. 

A comparison of OANDO’s volume traded with the previous day traded volume revealed that it increased by +1704% from 1.91m to 34.46m units traded.

The share price of  OANDO dipped by -1.38% to close at N5.70k at the close of trading.

Year-to-date, OANDO shares have moved up by +28.96% as against +20.28% YTD return recorded by the NGXASI, out-performing the broad market index by 8.68%.

The huge volume traded today may be strategic positioning by some shareholders of the oil firm.

Chart: 8 Days Share Price and Volume Movement

Source: NGX, Proshare Research