Vistra Surges 2.78% Despite 25.98% Volume Plunge Ranks 136th in Daily Turnover

Vistra (VST) closed on September 26, 2025, with a 2.78% gain, despite a 25.98% decline in trading volume to $640 million, ranking 136th among stocks by daily turnover. The move followed selective market activity and limited external catalysts directly tied to the energy services provider.

Recent developments affecting Vistra’s stock included adjustments in sector positioning as investors recalibrated exposure to utilities amid shifting regulatory risk profiles. Analyst commentary highlighted the company’s operational resilience in volatile markets, though no material earnings or strategic announcements were reported during the period. Trading patterns suggested short-term momentum driven by algorithmic activity rather than fundamental re-ratings.

To set up this back-test properly I need to confirm a few details about the trading universe and the daily re-balancing mechanics: 1. Market universe • Should we look at U.S. listed equities only (NYSE + NASDAQ), or do you have another market in mind? 2. Ranking logic • Each trading day we rank all stocks by that day’s total share volume and buy the top 500, correct? • Positions are equally weighted at the day’s close and held for one full trading session (i.e., sold at the next day’s close). 3. Transaction assumptions • Unless you specify otherwise, I will assume no commissions or slippage. 4. Data source constraints • The available back-test engine can currently evaluate a single-ticker strategy. For a multi-stock strategy like this we’ll need to aggregate daily portfolio returns before we feed them into the engine. I can script that, but please confirm you’re comfortable with that approach. Let me know (1) the market universe and (2) whether you’re happy with the default assumptions above, and I’ll prepare the data retrieval and back-test steps accordingly.