HPQ Climbs to 392nd in Market Activity as Institutional Buyers Target Q4 Hardware Demand

On October 3, 2025, Hewlett-Packard (HPQ) rose 0.60% to close its trading session with a volume of $280 million, ranking 392nd in market activity. The stock's performance was driven by institutional buying interest amid renewed focus on enterprise hardware demand in the fourth quarter. Analysts noted that the volume surge reflects position rebuilding after recent underperformance relative to the S&P 500 technology sector

Market participants observed that the trading activity aligned with seasonal patterns as corporate clients begin annual IT procurement cycles. While no major product announcements were reported, technical analysis suggests the stock has retested key support levels from earlier in 2025, potentially attracting algorithmic trading strategies. The volume-to-price ratio remains within historical norms, indicating the move is primarily liquidity-driven rather than driven by fundamental catalysts

Backtesting of the top-500-by-daily-volume strategy requires constructing a portfolio that re-selects 500 stocks daily and aggregates their profit/loss. Current back-testing platforms only support single-instrument signals, necessitating either approximation through liquidity-weighted indices or custom multi-asset testing. The latter approach would involve exporting historical volume data for all U.S. equities, ranking daily, and calculating returns for the top 500 in an external environment like Python. This process would accurately replicate the strategy's mechanics while maintaining equal-weight positioning across the selected universe