Here are the 3 most heavily traded ASX 200 shares on Friday

May 31, 2023

ASX lithium shares are once again driving trading volumes this Friday.

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It's line ball whether the S&P/ASX 200 Index (ASX: XJO) will end the trading week on a sour note, after what has been a fairly negative week for ASX shares overall this week. After falling for three out of four trading days thus far, the ASX 200 looks like it is on track to make it three out of five, with the index currently up by 0.01% at just over 7,250 points.

But let's not let all of that boggle our minds. So to distract ourselves, let's now take a gander at the ASX 200 shares that are presently at the peak of the share market's trading volume charts, according to investing.com.

First up this Friday is the ASX 200 lithium share Sayona Mining. So far this session, a hefty 20.06 million Sayona shares have swapped hands as it currently stands. We haven't seen any fresh news out of Sayona today at all. But that hasn't stopped this lithium share from bucking the market with a strong showing.

At present, Sayona has put on a meaty 2.4%, lifting the company up to 21.5 cents per share. This gain, as well as Sayona's bumpy showing today, probably explains why so many shares have been traded thus far.

Another ASX 200 lithium stock is next up here in Core Lithium. This Friday has had a sizeable 25.24 million Core shares bought and sold on the ASX at this point. Again, there hasn't been any news or announcements out of Core Lithium that we can point to today.

But investors seem to have a bee in their collective bonnets about lithium today, with the Core Lithium share price up a pleasing 4.7% at present to $1.16 a share. That's despite Core Lithium slipping briefly into the red this morning just after market open. This indecisive showing, as well as the size of the present gain, is probably the smoking gun for the high trading volumes we are seeing.

Our third, final and most traded ASX 200 share of the day presently goes to railway company Aurizon. This session has had a whopping 28.12 million Aurizon shares exchanged on the ASX. All has been quiet on the Aurizon news front this Friday as well. But that hasn't stopped Aurizon shares from whipsawing around a bit.

The company initially opened around 0.8% higher this morning, climbing up to $3.58 a share. But investors have cooled their jets as the day has gone on, with Aurizon currently up by just 0.28% at $3.52. This looks to be why Aurizon finds itself at the top of the trading pile at present.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Aurizon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.