L3Harris Climb to 333rd in U.S. Trading Amid Geopolitical Defense Shifts

L3Harris Technologies (LHX) rose 1.85% on Thursday, with a trading volume of $350 million, ranking 333rd in U.S. equity volume. The stock's performance coincided with renewed focus on defense sector activity as investors assessed broader market positioning ahead of key economic data releases.

Analysts noted mixed sentiment in the defense technology space, with market participants evaluating recent contract developments and supply chain dynamics. While no direct earnings or partnership announcements impacted the stock, traders cited broader sector rotation as a key driver, with capital shifting toward defense plays amid evolving geopolitical risk perceptions.

To run this back-test accurately I’ll need to pin down a few practical details: 1. Universe • Should we screen the entire U.S. listed equity universe (NYSE + NASDAQ + AMEX), or a different market? 2. Volume definition • Rank by share volume or by dollar volume (volume × price)? 3. Trade timing • Re-rank at each day’s close, buy the selected 500 names at next day’s open and exit the same day’s close? • Or rebalance at today’s close and exit at tomorrow’s close (i.e., 1-day close-to-close hold)? 4. Return aggregation • Equal-weight each of the 500 constituents, re-weighting daily? (Typical approach, but confirm.) Once I have these points I can build the signal file and run the strategy-level back-test for 2022-01-03 through today.