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Energy and Gold Mining: 2 ETFs to Watch on Outsized Volume

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In the last trading session, U.S. stocks saw rocky trading, thanks to higher prospect of March rate hike and increased geopolitical concerns. Among the top ETFs, investors saw (SPY - Free Report) lose 0.3%, and (DIA - Free Report) and QQQ move lower by 0.2% on the day.

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:

(PXJ - Free Report) : Volume 6.41 times average

This energy ETF was in the spotlight yesterday as nearly 230,000 shares moved hands compared with an average of roughly 39,000 shares a day. We also saw some price movement as PXJ lost nearly 0.8% last session.

The movement can largely be blamed on the CERAWeek Energy Conference, which has optimistic tone this year as oil price is up more than $20 per barrel from a year earlier. This can have a big impact on the energy stocks like what we find in this ETF portfolio. PXJ was down 4.6% in the past one month and has a Zacks ETF Rank of 3 or ‘Hold’ rating with a High risk outlook.

(GDXJ - Free Report) : Volume 2.22 times average

This gold mining ETF was under the microscope yesterday as more than 48.4 million shares moved hands. This compares with an average trading day of around 23.3 million shares and came as GDXJ shed about 6% in the session.

The big move was largely the result of higher expectations for a U.S. interest-rate increase as early as this month that diminish the yellow metal’s attractiveness since it does not pay interest like fixed-income assets. GDXJ lost 21% in the past one month.

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