FirstEnergy's 95.95% Volume Spike to $230M Propels Shares to 0.36% Gain Ranking 488th in U.S. Equities Liquidity Amid Regulatory Shifts

On Sept. 25, 2025, FirstEnergy Corp. (FE) rose 0.36% to close at $27.82, with a trading volume of $230 million—surpassing yesterday’s volume by 95.95%—ranking 488th among U.S. equities by daily liquidity. The utility operator’s shares saw renewed institutional interest amid sector-specific regulatory developments.

Analysts noted that the stock’s performance coincided with a broader energy sector consolidation narrative, though no direct earnings or operational updates were disclosed. Market participants attributed the volume spike to position adjustments by energy-focused funds reacting to evolving grid modernization policies in key service states.

Back-test modeling of a hypothetical strategy—selecting the top 500 U.S. stocks by daily volume and holding for one day—would require technical adjustments given current platform constraints. Options include using an equal-weight index proxy like RSP or quarterly re-ranking based on average dollar-volume. Default parameters assume equal weighting with no transaction cost assumptions applied.

Performance would be benchmarked from Jan. 3, 2022, to the latest available close, using daily closing prices for both entry and exit points. Implementation details are pending final confirmation on rebalancing frequency and weighting methodology.