VWAP

From Reuters Financial Glossary

Volume-weighted average price. VWAP is a method of pricing transactions and a benchmark to measure the efficiency of institutional trading or the performance of traders. VWAP represents the total value of stocks traded in a particular security for a given time period, divided by the total volume of stocks traded in that security during that same time period. Calculation techniques vary: some will use data from all markets or just the primary market and may or may not adjust for resubmits and other error corrections. It is also known as dynamic time and sales.