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US equity trading volume
Every day a number goes out saying how many shares changed hands in US equities, and it has been going up fast. 12.2 billion a day in 2024, 17.6 billion in 2025, 20.1 billion through the first half of 2026, with June alone setting a record at 23.3 billion. Read as a measure of how much activity there is, that looks like a market getting busier at a serious clip. The trouble is that a share is not a unit of value. A billion shares of a fifty cent stock is $500 million changing hands. A hundred million shares of a five hundred dollar stock is $50 billion, a hundred times more money on a tenth of the share count. Share volume ranks those two the wrong way round, badly, and 28% of all shares traded are in stocks priced at $5 or below.
So this page lays out the volume numbers and then the composition underneath them. The low priced share, the ETF share at 19.6%, and why neither is a footnote. It also covers a company count in the same dataset that disagrees with another count on this site by more than a thousand companies, which is a useful reminder of how much definitions do.
Three sources, and where two of them disagree the page quotes levels rather than the disputed change. All linked below with their dates, and both providers publish this openly, so the originals are easy to reach.
US equity average daily volume reached 17.6 billion shares in 2025, up 44.6% on the prior year, and 20.1 billion year to date through June 2026. June 2026 alone set a record at 23.3 billion. But share counts flatter the picture badly: 28% of shares traded were priced at $5 or below and 13.5% below $1. Counting shares rather than dollars means a billion shares of a fifty cent stock outweighs a hundred million shares of a five hundred dollar one, and that distortion is large enough to change conclusions.
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