In the last trading session, Wall Street ended the day in green as investors took advantage of Tuesday's massive sell-off in hopes of picking up cheap bets. Among the top ETFs, SPY gained 0.4% and DIA rose 0.1%, while QQQ moved 0.8% higher 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.
IYT: Volume 3.02 Times Average
This transport ETF was in the spotlight as around 524,000 shares moved hands compared with an average of 175,000 shares a day. We also saw some price movement as IYT lost 0.5% in the last session.
The move was largely the result of bargain hunting and could have a big impact on transport ETFs like the ones we find in this ETF portfolio. IYT has declined 7.6% over the past month and has a Zacks ETF Rank #2 (Buy), with a High risk outlook.
SGDM: Volume 2.44 Times Average
This gold ETF was under the microscope as nearly 90,000 shares moved hands. This compares with an average trading volume of roughly 37,000 shares and came as SGDM added 0.3% in the last trading session.
The movement can largely be blamed on gold’s safe haven status in times of economic or political turmoil. Concerns over global recession have raised the appeal for the bullion as a store of value and hedge against market turmoil. SGDM has plunged 10.2% in a month’s time.
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In the last trading session, Wall Street ended the day in green as investors took advantage of Tuesday's massive sell-off in hopes of picking up cheap bets. Among the top ETFs, SPY gained 0.4% and DIA rose 0.1%, while QQQ moved 0.8% higher 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.
IYT: Volume 3.02 Times Average
This transport ETF was in the spotlight as around 524,000 shares moved hands compared with an average of 175,000 shares a day. We also saw some price movement as IYT lost 0.5% in the last session.
The move was largely the result of bargain hunting and could have a big impact on transport ETFs like the ones we find in this ETF portfolio. IYT has declined 7.6% over the past month and has a Zacks ETF Rank #2 (Buy), with a High risk outlook.
SGDM: Volume 2.44 Times Average
This gold ETF was under the microscope as nearly 90,000 shares moved hands. This compares with an average trading volume of roughly 37,000 shares and came as SGDM added 0.3% in the last trading session.
The movement can largely be blamed on gold’s safe haven status in times of economic or political turmoil. Concerns over global recession have raised the appeal for the bullion as a store of value and hedge against market turmoil. SGDM has plunged 10.2% in a month’s time.
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Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
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