In the last trading session, U.S. stocks suffered heavily after International Energy Agency (IEA) provided weak forecasts for global oil demand. It had a negative impact on crude prices and the energy sector, which in turn dragged the major benchmarks down. Among the top ETFs, investors saw SPY plunge about 1.4%, DIA decline around 1.4% and QQQ fell about 0.9% 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, in the most recent trading session, both these funds experienced volume levels that were more than double their average. This could make these ETFs the ones to watch out for in the days ahead to see if this trend of extra interest continues:
MLPX: Volume 3.05 times average
This MLP ETF was under the microscope on Tuesday as nearly 119,975 shares moved hands. This compares to an average trading volume of 39,390 shares and came as MLPX declined about 2.9% in the session.
The slump in oil prices emerged as the main reason behind the ETF’s decline yesterday. IEA predicted that global oil demand this year will be weaker than earlier expectations and also forecast that crude markets are poised to suffer from oversupply till the first half of the next year. However, in the last one-month period, MLPX increased nearly 1.8%.
IYG: Volume 5.42 times average
This financial ETF was in focus yesterday as roughly 548,041 shares moved hands compared with an average of roughly 101,170 shares. IYG lost about 1.7% on the day.
Reducing rate hike chances in this month’s meeting following comments from some of the Fed officials and decline in broader markets dragged down the ETF into negative territory on Tuesday. However, in the last one-month period, IYG was up 1.1%. The fund has a Zacks ETF Rank #4 (Sell).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
In the last trading session, U.S. stocks suffered heavily after International Energy Agency (IEA) provided weak forecasts for global oil demand. It had a negative impact on crude prices and the energy sector, which in turn dragged the major benchmarks down. Among the top ETFs, investors saw SPY plunge about 1.4%, DIA decline around 1.4% and QQQ fell about 0.9% 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, in the most recent trading session, both these funds experienced volume levels that were more than double their average. This could make these ETFs the ones to watch out for in the days ahead to see if this trend of extra interest continues:
MLPX: Volume 3.05 times average
This MLP ETF was under the microscope on Tuesday as nearly 119,975 shares moved hands. This compares to an average trading volume of 39,390 shares and came as MLPX declined about 2.9% in the session.
The slump in oil prices emerged as the main reason behind the ETF’s decline yesterday. IEA predicted that global oil demand this year will be weaker than earlier expectations and also forecast that crude markets are poised to suffer from oversupply till the first half of the next year. However, in the last one-month period, MLPX increased nearly 1.8%.
IYG: Volume 5.42 times average
This financial ETF was in focus yesterday as roughly 548,041 shares moved hands compared with an average of roughly 101,170 shares. IYG lost about 1.7% on the day.
Reducing rate hike chances in this month’s meeting following comments from some of the Fed officials and decline in broader markets dragged down the ETF into negative territory on Tuesday. However, in the last one-month period, IYG was up 1.1%. The fund has a Zacks ETF Rank #4 (Sell).
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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