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Bond and Dividend: 2 ETFs to Watch for Outsized Volume
In the last trading session, U.S. stocks rose at the close as the 10-year U.S. Treasury yield retreated slightly after hitting 16-year highs. Among the top ETFs, (SPY - Free Report) gained 0.7%, (DIA - Free Report) added 0.3% and (QQQ - Free Report) moved higher by 1.4% in the last trading session.
Two more specialized ETFs are worth noting, 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 the ones to watch out for in the days ahead to see if this trend of extra interest continues.
(SHV - Free Report) : Volume 6.64 Times Average
This ultra short-term bond ETF was in the spotlight as around 2.7 million shares moved hands compared with an average of 16.8 million shares a day. We also saw some price movement, as SHV added 0.04% in the last session.
The move was largely due to growing anticipation that the Fed will continue to keep interest rates higher for longer. This had a big impact on ultra short-term bond ETFs like the ones we find in this ETF portfolio. SHV has gained 0.4% over the past month and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
(VYM - Free Report) : Volume 3.10 Times Average
This high-yield dividend ETF was under the microscope as nearly 2.6 million shares moved hands. This compared with an average trading volume of roughly 1.3 million shares and came as VYM shed 0.08% in the last trading session.
The movement can largely be blamed on heightened stock market uncertainty. VYM has declined 5.7% in a month and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.