How US share volume concentrates across symbols, May 2026

WITH
daily AS
(
    SELECT
        ticker,
        date,
        max(toFloat64(volume)) AS shares
    FROM global_markets.stocks_daily_aggs
    WHERE date >= '2026-05-01'
      AND date <  '2026-06-01'
      AND ticker NOT IN ('SPCX')
    GROUP BY ticker, date
),
per_symbol AS
(
    SELECT
        ticker,
        avg(shares) AS adv,
        sum(shares) AS month_shares
    FROM daily
    GROUP BY ticker
    HAVING adv > 0
),
buckets AS
(
    SELECT
        multiIf(adv <    10000, 'under 10k',
                adv <   100000, '10k to 100k',
                adv <  1000000, '100k to 1M',
                adv < 10000000, '1M to 10M',
                                'over 10M') AS adv_bucket,
        min(adv)                            AS bucket_floor,
        count()                             AS listings,
        sum(month_shares)                   AS bucket_shares
    FROM per_symbol
    GROUP BY adv_bucket
),
totals AS
(
    SELECT
        count()           AS all_listings,
        sum(month_shares) AS all_shares
    FROM per_symbol
)
SELECT
    b.adv_bucket                                        AS adv_bucket,
    b.listings                                          AS listing_count,
    round(100 * b.listings / t.all_listings, 1)          AS share_of_listings_pct,
    round(100 * b.bucket_shares / t.all_shares, 1)       AS share_of_volume_pct
FROM buckets AS b
CROSS JOIN totals AS t
ORDER BY b.bucket_floor