In the past trading session, the performance of U.S. stocks was mixed in what was overall a rocky session. For top ETFs, investors saw SPY lose 0.18%, DIA move down 0.6% while QQQ gained 0.16% 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, both of these funds experienced volume levels that were more than triple 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:
(IYZ - Free Report) : Volume 4.4 times average.
This telecom ETF was in focus yesterday as roughly 2.70 million shares moved hands compared to an average of roughly 614,000. We also saw some share price movement as shares of IYZ gained 0.56% on the session.
The movement can largely be attributed to the talks of U.S. Federal Communications Commission (FCC) lifting the ban on companies engaging in merger talks and FCC’s 600 MHz auction results. For the month, IYZ is up 2.43%, while the fund currently has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
(FXC - Free Report) : Volume 3.28 times average.
This Canadian Dollar ETF was under the microscope yesterday as nearly 175,800 shares moved hands. This compares to an average trading day of 53,600 shares and it came as FXC lost 0.76% in the session.
The big move was largely the result of a continued fall in oil prices, a major export for this American neighbor. U.S. oil prices fell nearly 4% to close at $50.28 per barrel. The Canadian dollar settled at $1.3480 to the greenback. FXC was down 0.99% in the past month. If oil prices do not fall further, the the Canadian dollar is unlikely to witness downward movement. The fund currently has a Zacks ETF Rank #3 with a Medium risk outlook.
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