The major stock market indexes are nearing their all-time highs. But surprisingly enough, not many issues are trading hands. Trading volume is lower than it's been in a long time.
In fact, average daily trading volume in S&P 500 stocks over the previous 90 days is nearing a 10-year low. It declined to just 7 percent of total market capitalization during the three months that ended at the end of last week. By contrast, it averaged 21 percent between 2010 and 2013.
One factor is that trades aren't nearly as large as they used to be. Data from ModerIR shows that the average number of shares per trade has fallen from 248 in 2015 to just 133 today.
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