Doral Financial Up Sharply, Gaining 6% On Heavy Volume

Doral Financial Corp. (NYSE: DRL) shares are moving sharply higher today, gaining more than 6% on heavier than normal volume for this time of day.

At last check, shares were up 13 cents to $2.09 on around 700,000 shares. The average daily volume is 1.8 million shares. If traders continue this pace in Doral Financial, around 2.25 million shares will have been traded today in the name. This is something to keep an eye on, as Doral Financial appears to be breaking out of a trading range.

Doral Financial Corporation, through its subsidiaries, provides a range of banking and financial services primarily in Puerto Rico and New York. It accepts deposits from the general public and institutions.