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2 ETFs to Watch for Outsized Volume on Consumer Staples and Dividend
In the last trading session, U.S. stocks extended their dismal trading after the worst day since June 2020. Worries that Fed rates hike as well as skyrocketing inflation may spur an economic slowdown continued to weigh on investors’ sentiment. Among the top ETFs, (SPY - Free Report) and (DIA - Free Report) lost 0.6%, while (QQQ - Free Report) moved 0.5% lower on the day.
Two more specialized ETFs are worth noting as both saw trading volume that was far outside 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 the ones to watch out for in the days ahead to see if this trend of extra-interest continues.
(VDC - Free Report) : Volume 3.14 Times Average
This consumer staples ETF was in the spotlight as around 820,000 shares moved hands compared with an average of 270,000 shares a day. We also saw some price movement as VDC lost 1.6% in the last session.
The move was largely the result of a defensive play that could have a big impact on the consumer staples stocks like the ones we find in this ETF portfolio. Consumer staples products see steady demand even during an economic downturn due to their low level of correlation with economic cycles. VDC has plunged 9.5% over the past month and carries a Zacks ETF Rank #3 (Hold).
(HDV - Free Report) : Volume 2.81 Times Average
This dividend ETF was under the microscope as nearly 4.4 million shares moved hands. This compares with an average trading volume of roughly 1.6 million shares and came as HDV plunged 1.4% in the last trading session.
The movement can largely be blamed on volatility and uncertainty that has raised the appeal for dividend investing. Dividend ETFs are major sources of consistent income for investors in any type of market though they do not offer dramatic price appreciation. HDV is down 2.5% in a month’s time and has a Zacks ETF Rank #3.