NEW YORK (Reuters) - A record 347 million Citigroup Inc C.N shares changed hands on the stock's closing trade Wednesday, surpassing by far the New York Stock Exchange's previous record, logged only last week, the exchange said after markets closed.
Shares of Citigroup, which also set the two previous closing-trade volume records, closed up 10.2 percent at $3.58. The bank launched its $2.5 billion five-year note sale earlier in the day.
In the previous two records, Citigroup’s closing trade saw volumes of 142 million shares on July 31 and 106 million shares on July 29, the Big Board said in an e-mail. Eight of the last 10 records happened this year.
The final trade of the day typically has high volume because all pending interest in the stock is swept into one auction.
"The final trade went smoothly, with dozens of brokers in the crowd, providing color to customers," said NYSE Euronext NYX.N spokesman Ray Pellecchia, adding the last Citigroup trade on Wednesday was 4 cents higher than the second-to-last.
Reporting by Jonathan Spicer; Editing by Bernard Orr
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