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Homebuilder and Mid-Cap: 2 ETFs to Watch for Outsized Volume
In the last trading session, Wall Street rebounded strongly from the Omicron-driven rout after the worst two-day drop in more than a year as investors jumped to buy the dips. Among the top ETFs, (SPY - Free Report) has risen 1.5%, (DIA - Free Report) gained 1.8% and (QQQ - Free Report) moved 0.7% 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.
(ITB - Free Report) : Volume 3.10 Times Average
This homebuilding ETF was in the spotlight as around 8.5 million shares moved hands compared with an average of 2.7 million shares a day. We also saw some price movement as ITB surged 4.1% in the last session.
The move was largely the result of a steady improvement in economic growth that could have a big impact on homebuilding stocks like the ones that we find in this ETF portfolio. ITB has gained 5.7% over the past month and carries a Zacks ETF Rank #2 (Buy) with a High risk outlook.
(VO - Free Report) : Volume 2.98 Times Average
This mid-cap ETF was under the microscope as nearly 2.2 million shares moved hands. This compares with an average trading volume of roughly 757,000 shares and came as VO gained 2.5% in the last trading session.
The movement can largely be blamed on bouts of volatility. Mid-cap ETFs offer the best of both worlds — growth and stability — when compared to the small-cap and large-cap counterparts. VO is down 4.5% in a month’s time and has a Zacks ETF Rank #2 with a Medium risk outlook.