Benzinga | Aug 3, 2020 11:26AM EDT

These Were The Most Actively Traded Securities On OTC Markets In The First Half Of 2020

With the first half of 2020 in the books and the second-quarter earnings season in full swing, it looks as if global markets are starting to return to some semblance of normalcy.

The CBOE Volatility Index is nearing its lowest point since February 24, when Covid-19 fears first swept through Wall Street. And on OTC Markets, trading volume has started to recede back to pre-March levels. With the exception of the OTCQB Venture Market, which just experienced its highest volume month of the year in June, trading volume on the OTCQX Best Market and Pink Current Information Market have reverted back to levels in-line with typical activity.

Here are four other takeaways from first-half trading activity on OTC Markets.

Elevated Volume Was A Theme

Through 2020's halfway mark, total dollar volume on OTC Markets was about $224.6 billion, up 32% on a year-over-year basis.

Unsurprisingly, March was the highest volume month as investors digested the implications of a pandemic and economic crisis. Nearly 25% of the total year-to-date dollar volume on OTC Markets occurred in March.

As A Whole, Venture Companies Outperformed

Of the nine indexes that track the broad-based performance of securities on OTC Markets, the benchmark with the best performance in the first half was the OTCQB Index, which fell 5.36% from the end of 2019. In addition to early stage venture companies, the OTCQB market is home to many metals and miners, which are typically seen as safe-haven assets during times of market turmoil.

This was followed by the OTCQX Dividend Index, a benchmark of all the OTCQX members that pay a regular dividend, which fell 8.19%.

There Were 115 New Companies On OTCQX And OTCQB

This includes companies from across the economic landscape, specifically community banks, miners, and venture stage biotechs. The 115 new QX and QB securities figure is on par with prior year totals, a sign that businesses still see the U.S. capital markets as a viable option for raising capital in 2020.

The average year-to-date gain of these new securities in the first half of 2020 was 20.84%.

Roche And GBTC Were The Most Actively Traded Names

Through June, Roche Holding Ltd (OTCQX:RHHBY) was the only security on the OTCQX Best Market, the top tier of OTC Markets, to exceed $10 billion in dollar volume. In keeping with the trend from 2019, Roche and GBTC were far and away the two most actively traded securities on the market through the first six months.

Below is a list of the top 10 most actively traded securities on the OTCQX tier of OTC Markets in the first half:

Company Ticker First Half Market Cap* Volume

Roche Holding Ltd (OTCQX:RHHBY, RHHBF, $12,594,906,931$297.4 RHHVF)) billion

Grayscale Bitcoin Trust (OTCQX:GBTC) $6,389,893,871 $5.2 billion

Danone (OTCQX:DANOY, GPDNF)) $1,854,398,826$45.7 billion

adidas AG (OTCQX:ADDYY, ADDDF)) $1,283,167,427 $54.7 billion

BNP Paribas (OTCQX:BNPQY, BNPQF)) $1,040,232,206 $50 billion

BASF SE (OTCQX:BASFY, BFFAF)) $778,893,311 $50.3 billion

Imperial Brands PLC (OTCQX:IMBBY, IMBBF))$765,614,985 $15.8 billion

AXA (OTCQX:AXAHY, AXAHF)) $762,624,422 $48.3 billion

Infineon Technologies AG (OTCQX:IFNNY, IFNNF)) $694,588,314 $30.8 billion

Koninklijke Ahold Delhaize(OTCQX:ADRNY, AHODF)) $612,063,744 $1.06 N.V. billion

*As of July 31, 2020

Image: Roche