In the past trading session, U.S. stocks dipped for the third consecutive session in a row. Among the top ETFs, investors saw (AX:SPY) lose 0.2% and (V:DIA) move lower by 0.5%. However, QQQ gained 0.1% on the day.
Two more specialized ETFs are worth noting in particular though as both saw trading volume that was far outside of normal. In fact, both these funds experienced volume levels that were more than double their average for the most-recent trading session. This could make these ETFs ones to watch out for in the days ahead to see if this trend of extra-interest continues:
FUTY: Volume 5.1 times average.
This Utilities ETF was in focus as roughly 780,000 shares moved hands in the last trading session compared to an average of roughly 151,000 shares. We also saw some share price movement as shares of FUTY gained 0.4%.
Recent plunge in the markets has attracted investors to this safe sector. In the past month, FUTY has gained 3.6%. The fund currently has a Zacks ETF Rank #3 (Hold).
IEO: Volume 3.8 times average.
This Energy ETF (NYSE:XLE) was under the microscope as nearly 450,000 shares moved hands in the last trading session. This compares to an average trading day of nearly 120,000 shares and it came as IEO lost about 2.5% on the session.
The Energy sector was down yesterday due to rising worries surrounding surging oil production amid weakening demand from developing countries and increasing expectations from U.S. and OPEC to increase supply. IEO has declined over 16.3% in the past month. It currently has a Zacks ETF Rank #3.
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Zacks Investment Research