A revealing new report done by the staff over at The Motley Fool breaks down the numbers behind the stocks traded most frequently by high frequency traders.
The stocks that made each of the NYSE, Nasdaq and the BATS exchange lists included Bank of America, General Electric, Ford, Sprint Nextel, Alcoa, Citigroup and Wells Fargo.
What these stocks have in common is a high daily trading volume, mostly high betas, and all are mostly losers in terms of five year return.
Bank of America leads the pack as the kingpin of high frequency traders, with an average daily trading volume of over 300 million shares moved. Other notables on the list include Citigroup, which has a beta of 2.89 and has posted a five-year return of nearly -100%.
You can read the full report here.