M Dark Pool Activity
ATS off-exchange volume intelligence · Week of 2026-07-20
M dark pool volume for the week of 2026-07-20: 5.5M shares traded across 26 ATS venues with a total notional value of $129.5M. Volume is down 1.2% week-over-week. Off-exchange dark pool transactions account for 27.0% of total M market volume — elevated above the typical 10–14% institutional baseline, potentially signaling active accumulation or distribution. Primary routing venues include , INTELLIGENT CROSS LLC, MS TRAJECTORY CROSS (ATS-1).
Dark pool activity in M reflects institutional order flow executing on Alternative Trading Systems (ATS) registered with the SEC — private venues where large-block trades are matched away from public exchanges to minimize price impact. StonkWhisper ingests FINRA-published ATS volume data to track these off-exchange flows. Sustained elevation in dark pool percentage — particularly when concentrated at specific venues — can indicate institutional accumulation or distribution ahead of significant price moves. The interactive charts below show 12-week historical volume and complete venue breakdown for M.
Weekly History
| Week | Shares | DP % | WoW |
|---|---|---|---|
| 2026-07-20 | 5.5M | 27.0% | -1.2% |
| 2026-07-13 | 5.6M | — | -9.1% |
| 2026-07-06 | 6.1M | — | +3.9% |
| 2026-06-29 | 5.9M | — | -8.0% |
| 2026-06-22 | 6.4M | — | +33.8% |
| 2026-06-15 | 4.8M | — | -35.3% |
| 2026-06-08 | 7.4M | — | -32.8% |
| 2026-06-01 | 11.0M | 45.9% | +101.5% |
| 2026-05-25 | 5.5M | 22.8% | -24.7% |
| 2026-05-18 | 7.2M | 30.2% | +25.0% |
| 2026-05-11 | 5.8M | — | +30.1% |
| 2026-05-04 | 4.5M | — | +11.7% |