Here are the 3 most heavily traded ASX 200 shares on Wednesday

The ASX 200's spectacular recovery today is driving heavy trading volumes.

Sebastian Bowen

Author Bio Sebastian Bowen has been a Motley Fool contributor since late 2018. Sebastian found his passion for writing and educating others about shares and all things finance after completing his studies in political, economic and social science and enjoys bringing this passion to life at the Fool. His investment philosophy is a simple one – buying high-quality companies at prices that make sense. When he’s not researching his next investment at all hours of the morning, Sebastian enjoys classic movies and likes to unwind with a good book, newspaper or record. Areas of Expertise Dividend investing ETFs Education Bachelor of Political, Economic, and Social Sciences (Government and International Relations), University of Sydney Social Media X/Twitter Favorite Investment Quote "In the short run, the market is a voting machine, but in the long run, it is a weighing machine." – Benjamin Graham

Published March 22, 2023 3:53 pm AEDT

It's continuing to be a decent week for the S&P/ASX 200 Index (ASX: XJO) at this point of Wednesday's trading. After the carnage we saw on Monday, the ASX 200 is continuing to build on the recovery we saw yesterday during this session.

At the time of writing, the Index is currently up by another 0.99%, which lifts it back over the 7,000-point threshold.

But let's now dive deeper into these encouraging market moves by taking a look at the ASX 200 shares that are at the top of the share market's trading volume charts right now, according to investing.com.

blue arrows representing a rising share price ASX 200 — Image source: Getty Images

The 3 most traded ASX 200 shares by volume this Wednesday

Sayona Mining Ltd (ASX: SYA)

First up today is a familiar face to this list in ASX 200 lithium miner Sayona. So far this Wednesday, a decent 19.8 million Sayona shares have traded on the markets. There's been no news out of Sayona itself thus far.

So it's probable that this high volume is a consequence of the movements of the company's shares themselves.

Indeed, Sayona has had a bouncy day so far. The lithium stock is currently nursing a 1.46% loss, putting it down to 20 cents a share. But this morning, investors were initially bullish on the lithium miner and sent it above 21 cents at one point.

Pilbara Minerals Ltd (ASX: PLS)

Next up is Sayona's fellow ASX 200 lithium stock Pilbara Minerals. At this point of trading, a chunky 24.74 million Pilbara shares have swapped owners. There's been no news out of Pilbara either. But this volume could be a byproduct of some recent love out of two ASX brokers.

As we covered this morning, two brokers in Morgans and Macquarie have recently come out with buy ratings on the company. Further, several US lithium shares also had strong nights overnight, perhaps thanks to some bullish comments from the Governor of California.

Pilbara shares are presently enjoying a near-3% boost to $3.62 a share, so that won't be hurting volumes either.

Star Entertainment Group Ltd (ASX: SGR)

Finally today, let's discuss ASX 200 casino operator Star Entertainment. A whopping 36.3 million Star shares have bolted across the ASX skies so far this Wednesday.

We have had some news from this company today. Star has announced the retirement of Ben Heap as chair, effective at month's end. He will be replaced by David Foster if all goes to plan. This news might be influencing volumes.

But Star's share price has also been a bit bouncy today, which is likely helping this elevated volume. The Star share price is currently up 0.68% at $1.48 a share, but this morning, the company got as low as $1.44 before recovering to its present level.

All of these events could be combining to push Star to the top of the trading volume pile right now.

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