The S&P/ASX 200 Index (ASX: XJO) has managed to have a pretty successful day so far this Wednesday, despite a few ups and downs. At the time of writing, the ASX looks set to end the day in the green, up 0.38% to 7,360 points. But let’s take a closer look at the ASX 200 shares that are seeing the heaviest trading volume today.
3 ASX 200 shares with the heaviest trading volume today
Sydney Airport Holdings Pty Ltd (ASX: SYD)
Sydney Airport is our first ASX 200 share to look at today. This airport operator has been at the forefront of man investors’ minds ever since the dramatic takeover offer earlier this month which saw the Sydney Airport share price rise by roughly 35% in one day. Today has seen an impressive 10.73 million SYD shares swap hands so far. That’s despite not too much happening with the company’s share price.
Sydney Airport shares are currently down 0.26% to $7.82 this afternoon. As my Fool colleague Tristan covered earlier today, this might be the result of rumours that the offer of $8.25 a share is “highly likely to be rejected” by the Sydney Airport board. This might be the reason why so many shares are bouncing around today.
Incitec Pivot Ltd (ASX: IPL)
Fertiliser, chemical and explosives manufacturer Incitec Pivot is another ASX 200 share to examine today. So far today, a very hefty 12.28 million Incitec shares have traded. Incitec shares have had a very dramatic week so far, rising almost 10% yesterday at one point on an announcement of a business restructure.
Although yesterday’s gains ended up being more muted than that at just under 7% at market close, Incitec is adding to that today, with another 1.56% rise to $2.61 a share. It’s likely a combination of both yesterday and today’s gains that is resulting in a high volume of Incitec shares moving around this Wednesday.
Zip Co Ltd (ASX: Z1P)
Buy now, pay later (BNPL) company Zip Co is our most traded ASX 200 share today, with a very substantial 24.4 million shares trading owners so far. That’s probably the result of the very steep share price fall Zip has endured today. At the time of writing, the Zip share price is down a nasty 11.26% to $7.33 a share.
This sharp fall can be attributed to the news that none other than Apple Inc (NASDAQ: AAPL) is reportedly working in a new BNPL service. It’s probably safe to say that Apple is one of the last companies any other company would want on their turf. As such, investors have reacted accordingly.