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2 ETFs to Watch for Outsized Volume on China and Commodity
In the last trading session, Wall Street gained as investors piled into the beaten-down tech sectors. Among the top ETFs, (SPY - Free Report) climbed 2.2%, (DIA - Free Report) rose 1.8% and (QQQ - Free Report) moved 3.1% 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.
(FXI - Free Report) : Volume 3.08 Times Average
This China ETF was in the spotlight as around 113.2 million shares moved hands compared with an average of 38.6 million shares a day. We also saw some price movement as FXI lost 0.2% in the last session.
The move was largely the result of relentless selling pressure on concerns about the country’s ties with Russia and regulatory pressure. This could have a big impact on the China stocks like the ones we find in this ETF portfolio. FXI has plunged 28% over the past month and carries a Zacks ETF Rank #5 (Strong Sell) with a Medium risk outlook.
(USCI - Free Report) : Volume 4.77 Times Average
This commodity ETF was under the microscope as nearly 371,000 shares moved hands. This compares with an average trading volume of roughly 84,000 shares and came as USCI shed 3.3% in the last trading session.
The movement can largely be blamed on skyrocketing inflation and the tensions between Moscow and Western countries over Ukraine that have led to a spike in prices for a wide range of commodities. USCI is down 9.9% in a month’s time.