WINDERMERE, Fla. ( Stockpickr) -- Professional traders running mutual funds and hedge funds don't just look at a stock's price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility.Major moves in volume can signal unusual activity, such as insider buying or selling -- or buying or selling by "superinvestors." >>5 Huge Stocks Ready to Rocket Higher Unusual volume can also be a major signal that hedge funds and momentum traders are piling into a stock ahead of a catalyst. These types of traders like to get in well before a large spike, so it's always a smart move to monitor unusual volume. That said, remember to combine trend and price action with unusual volume. Put them all together to help you decipher the next big trend for any stock. With that in mind, let's take a look at several stocks rising on unusual volume today. >>5 Hidden Earnings Bargains Worth Buying Now Fifth & Pacific Companies Fifth & Pacific Companies ( FNP) is engaged in designing and marketing a range of apparel and accessories. This stock is trading up 7.3% at $19.97 in recent trading. Today's Volume: 4.50 million Average Volume: 1.94 million Volume % Change: 271% Shares of FNP are trending higher here after the Wall Street Journal reported the company is considering selling its Lucky Brand and Juicy Couture labels. From a technical perspective, FNP is ripping higher here right above its 50-day moving average of $17.55 with heavy upside volume. This move has started to push shares of FNP into breakout territory and new 52-week-high territory, since the stock has taken out some near-term overhead resistance at $19.49. At last check, shares of FNP have hit an intraday high of $20.37 and volume is well above its three-month average action of 1.94 million shares. Traders should now look for long-biased trades in FNP as long as it's trending above $19.49, and then once it sustains a move or close above its 52-week high of $20.37 with volume that hits near or above 1.94 million shares. If that breakout hits soon, then FNP will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that move are $23 to $25.