Allete Surges 0.73% on 503.92% Volume Spike Jumps to 345th in U.S. Equity Rankings as Renewable Push Drives Attention

Allete (ALE) surged 0.73% on October 3, 2025, with a trading volume of $320 million—marking a 503.92% increase from the previous day. The stock ranked 345th in volume among U.S. equities, reflecting heightened investor attention amid strategic developments.

Recent corporate actions and operational updates have driven Allete’s performance. The company announced a strategic partnership to expand renewable energy infrastructure in the Upper Midwest, signaling long-term growth potential. Analysts highlighted the alignment with regulatory trends supporting clean energy transition, which could enhance earnings visibility in 2026.

Technical indicators also showed mixed signals. While the stock closed above key resistance levels, short-term volatility remains elevated due to broader market corrections in energy sectors. Institutional activity, including a notable increase in call options, suggests speculative positioning ahead of quarterly earnings releases.

To run this back-test accurately we need to pin down a few practical details. Could you please confirm (or adjust) the following assumptions so I can build the strategy signals correctly? 1. Universe • All U.S. common stocks listed on NYSE, NASDAQ and AMEX. 2. Ranking & weighting • Each trading day we sort the universe by that day’s dollar trading volume and select the top 500. • Portfolio is re-balanced daily and the 500 names are held equal-weight. 3. Trade timing & prices • Enter at that day’s close, exit at next day’s close (1-day holding period). • Prices used: close-to-close total return, no intraday slippage. 4. Costs • Ignore commissions/slippage for this first pass (set to 0). If these match your intent, let me know and I will run the back-test from 2022-01-03 to 2025-10-03. Feel free to revise any point – once confirmed, I’ll proceed immediately.