In the past trading session, U.S. stocks managed to rebound after taking a plunge the day before. Among the top ETFs, investors saw (AX:SPY) gain 1.2%, (V:DIA) move higher by 1.4% and QQQ gain 1.3% 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 of 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 in the days ahead to see if this trend of extra-interest continues:
XLB: Volume 3.2 times average.
This material ETF was in focus yesterday as roughly 23.2 million shares moved hands yesterday compared to an average of roughly 7.3 million shares. We also saw some share price movement as shares of XLB gained 2.1% yesterday.
The markets rallied on Oct 30, helping the sector to gain on positive sentiment. For the month, Zacks ETF Rank #3 (Hold) XLB is down 14.1%.
IYK: Volume 3 times average.
This consumer staples ETF was under the microscope yesterday as 122,000 shares moved hands yesterday. This compares to an average trading day of 41000 shares and it came as IYK gained over 1.9% on the session.
A strongly performing economy buoyed by high consumer confidence and a low level of unemployment rate have given a boost to this space. IYK is still down over 3.8% in the past month. However, shares currently have a Zacks ETF Rank # 4 (Sell).
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