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Crude Oil and Developed Market: 2 ETFs to Watch on Outsized Volume

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In the last trading session, U.S. stocks jumped following President Donald Trump’s tweets implying that he expects Saudi Arabia and Russia to reach an agreement for a considerable production cut. Among the top ETFs, (SPY - Free Report) gained 2.4%, (DIA - Free Report) was up 2.2%, and (QQQ - Free Report) moved 2.0% 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.

(USO - Free Report) : Volume 6.01 Times Average

This WTI crude ETF was in the spotlight as around 320.6 million shares moved hands compared with an average 53.29 shares a day. We also saw great price movement as USO jumped 16.7% in the last session.

The big move was largely the result of hopes of output cut by the OPEC+. USO has lost 48.5% over the past month.

(EFV - Free Report) : Volume 3.28 Times Average

This broader developed market ETF was under the microscope as 4.74 million shares moved hands. This compares with average trading volume of roughly 1.44 million shares and came as EFV gained 2.4% in the last trading session.

The movement can largely be credited to renewed risk-on sentiments on the global market. The fund’s solid dividend yield of 6.77% is a special benefit. EFV has plunged 20.6% in a month’s time and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.

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