Baker Hughes Trades Quietly With $260M Volume Ranks 420th as Shares Edge Up 0.08% Amid Sector-Wide Cost Pressures

Baker Hughes (NYSE: BKR) closed 0.08% higher on October 9, 2025, with a trading volume of $260 million, ranking 420th in market activity. The energy services provider's shares showed muted movement amid mixed sectoral performance, with no significant corporate developments reported in the immediate term. Analysts noted limited catalysts influencing the stock's trajectory, as broader market sentiment remained cautious ahead of key macroeconomic data releases.

Recent market commentary highlighted the company's exposure to cyclical energy demand, with earnings visibility constrained by ongoing project delays in offshore operations. While management has reiterated confidence in long-term growth prospects, short-term volatility appears tied to sector-wide cost pressures rather than company-specific developments. Institutional ownership patterns showed minimal changes in the latest reporting period.

To make sure I back-test the strategy exactly the way you intend, could you please confirm a few details? Universe: Do you want to include every U.S.-listed common stock (NYSE + NASDAQ), or a narrower list such as the current S&P 500 constituents? Should ETFs, ADRs, preferreds, etc., be excluded? Rebalancing/execution assumptions: Ranking time - use the prior day’s close to decide the "top-500-by-volume"? Trade entry - execute at the next day’s open and exit at that day’s close (i.e., one full trading day of exposure)? Position sizing - equal-weight across the 500 names each day? Transaction costs: Should we assume zero costs/slippage, or apply a simple estimate (e.g., 2 bps each side)? Once those points are set, I can pull the data, generate the daily buy/sell lists, and run the back-test from 2022-01-03 up to today.