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Invesco QQQ (QQQ) - free report >>
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Value & Large Cap: 2 ETFs Trading with Outsized Volume
In the last trading session, U.S. stocks were mostly in the green. Fed Governor Lael Brainard’s dovish comments on the policy tightening issue charged up the markets. Among the top ETFs, investors saw SPY gain about 1.5%, (DIA - Free Report) add about 1.3% and (QQQ - Free Report) advance about 1.8% 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:
(IVE - Free Report) : Volume 3.16 times average
This value ETF was in focus yesterday as roughly 2.3 million shares moved hands compared with an average of roughly 740,000 shares. IVE gained about 1.4% on the day.
The heightened uncertainty in the market regarding the timing of the Fed rate hike and overvaluation concerns pertaining to the equity market probably gave this value ETF a boost. In the last one-month period, IVE was down over 0.6%. The fund has a Zacks ETF Rank #2 (Buy).
(IWB - Free Report) : Volume 3.12 times average
This U.S. large-cap ETF was under the microscope on Monday as nearly 3.4 million shares moved hands. This compares to an average trading volume of 1.09 million shares and came as IWB gained over 1.4% in the session.
The movement can be credited to the dimming prospect of a sooner-than-expected rate hike. In the last one-month period, IWB was down about 1.2%. The fund has a Zacks ETF Rank #3 (Hold).
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