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Bank and Value: 2 ETFs to Watch for Outsized Volume
In the last trading session, U.S. stocks extended their decline on fears of contagion in the financial sector. Among the top ETFs, (SPY - Free Report) lost 1.4% and (DIA - Free Report) shed 1%, while (QQQ - Free Report) moved down 1.4% in the last trading session.
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.
(KBWB - Free Report) : Volume 13.08 Times Average
This bank ETF was in the spotlight as around 15.4 million shares moved hands compared with an average of 1.4 million shares a day. We also saw some price movement, as KBWB tumbled 3.8% in the last session.
The move was largely due to the Silicon Valley Bank collapse shock and had a big impact on bank ETFs like the ones we find in this ETF portfolio. KBWB has plunged 15.8% over the past month and has a Zacks ETF Rank #3 (Hold) with a High risk outlook.
(RPV - Free Report) : Volume 4.71 Times Average
This value ETF was under the microscope as nearly 2.4 million shares moved hands. This compared with an average trading volume of roughly 555,000 shares and came as RPV lost 8.9% in the last trading session.
The movement can largely be blamed on investors’ defensive attitude amid market turmoil as value stocks shelter investors from deep losses. RPV has shed 8.9% in a month and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.