Stock Trading Probed

Ignite Inc., the software company formerly known as Graphix Zone Inc., said it has been informed that Nasdaq stock market officials are investigating heavy trading of the company’s stock in recent days.

More than 3 million shares of the company’s stock have changed hands over the past three trading days. Average trading volume for the past year has been about 100,000 shares. In a written statement, the company said it is “aware of the heavy trading volume that has taken place the last few days, but has no knowledge as to the cause.”

The struggling company announced a major restructuring last week, including layoffs of 25 workers and a name change. The company’s stock closed at 25 cents per share on Monday, down 3 cents on volume of 1.1 million.