In the last trading session, U.S. stocks logged in the biggest gain in many years on optimism that U.S. lawmakers were nearing a deal on injecting nearly $2 trillion of aid into the economy ravaged by the coronavirus. Among the top ETFs, investors saw (SPY - Free Report) gain 8.5%, (DIA - Free Report) add 11%, and (QQQ - Free Report) move 7.7% 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.
(RHS - Free Report) : Volume 5.20 Times Average
This consumer staples ETF was in the spotlight as around 145,000 shares moved hands compared with an average 30,000 shares a day. We also saw some price movement as RHS gained 5.3% in the last session.
The big move was largely the result of stimulus package hopes that will help to increase consumer spending and could have a big impact on consumer staples stocks like what we find in this ETF portfolio. RHS has lost 19.2% over the past month and has a Zacks ETF Rank #4 (Sell) with a Medium risk outlook.
(IYE - Free Report) : Volume 3.41 Times Average
This energy ETF was under the microscope as 3.8 million shares moved hands. This compares with average trading volume of roughly 1.2 million shares and came as IYE added 16.1% in the last trading session.
The movement can largely be blamed on rising oil price given that the stimulus package will support oil demand. IYE has plunged 46.2% in a month’s time and has a Zacks ETF Rank #5 (Strong Sell) with a High risk outlook.
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