PGEs $520M Volume Surge Propels It to 346th in U.S. Rankings Amid Regulatory Scrutiny

. 19, 2025, . stocks. The utility giant’s performance reflects mixed market sentiment amid regulatory developments and sector-wide volatility.

Recent regulatory scrutiny intensified as California’s Public Utilities Commission announced a review of PCG’s wildfire liability reserves, prompting investor caution. Analysts noted the move could impact long-term capital allocation strategies, though immediate operational risks remain limited. Meanwhile, broader headwinds, including fluctuating gas prices and grid modernization costs, continue to weigh on investor confidence.

A back-testing framework for a high-volume trading strategy was outlined, emphasizing the need for precise data feeds and portfolio aggregation tools. Key challenges include sourcing daily volume rankings and constructing an equal-weighted portfolio across 500 stocks. Proposed solutions range from using proxy indices like SPY to custom data-driven approaches, though execution requires additional data inputs and technical infrastructure.

To run a “top-500-by-volume, 1-day-hold” strategy from 2022-01-03 onward, three requirements are necessary: daily volume rankings for all tradable U.S. stocks; individual price series for selected tickers; and a portfolio engine capable of aggregating returns across 500 positions with daily re-balancing. Current tools allow single-instrument back-testing but lack multi-asset portfolio capabilities. Alternative approaches include using proxies, importing custom data feeds, or narrowing the universe to top 100 volume stocks within the S&P 500.