Johnson & Johnson Surges 1.11% on $1.53 Billion Volume as Strategic Moves and Regulatory Optimism Drive Institutional Interest Ranked 43rd in Daily Trading Activity

Johnson (JNJ) closed 1.11% higher on September 26, 2025, with a trading volume of $1.53 billion, ranking 43rd in market activity for the day. The stock’s performance was driven by a combination of sector-specific momentum and operational developments within the healthcare giant. Analysts noted that the volume surge reflected renewed institutional interest following recent strategic announcements.

Key factors influencing the stock included a regulatory update on its pipeline expansion, which positioned the company to potentially capture additional market share in high-growth therapeutic areas. Additionally, investor sentiment was bolstered by a reaffirmation of full-year guidance, aligning with expectations for sustained earnings visibility amid a volatile market environment. Short-term technical indicators also showed improved liquidity conditions, with the stock maintaining a firm stance above critical support levels.

To run this back-test I need to pin down two practical details that aren’t fully specified yet: Universe definition – “top 500 stocks by daily trading volume” can be computed over all listed U.S. common stocks, only the Russell 3000, only the S&P 500 constituents, etc. The choice materially affects both what data we pull and the transaction-cost assumptions. Re-balancing / execution convention – The usual implementation is: At each day’s close you rank that day’s universe by dollar trading-volume. You buy an equal-weighted basket of the top 500 at the next day’s open and liquidate it at that day’s close (1-day holding period). Please confirm this convention or let me know if you’d like a different timing (e.g., buy/close-to-close rather than open-to-close, use volume of the previous day, etc.). Once these points are clarified I can generate the data-retrieval plan and run the back-test.