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Energy and Large Caps: 2 ETFs to Watch for Outsized Volume
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In the last trading session, U.S. stocks gained following the Fed’s massive $2.3-trillion program to bolster local governments and businesses impacted by the coronavirus pandemic. Among the top ETFs, (SPY - Free Report) gained 1.5%, (DIA - Free Report) rose 1.2% and (QQQ - Free Report) moved 0.1% 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.
This energy ETF was in the spotlight as more than 1 million shares moved hands compared with an average 182,000 shares a day. We also saw some price movement as FXN added 0.6% in the last session.
The move was largely the result of hopes surrounding the OPEC oil output cut deal, which was finalized over the weekend. The OPEC and its allies agreed to cut crude-oil production by 9.7 million barrels a day starting May 1 through Jun 30 of this year. The deal could have a big impact on energy stocks like the ones that we find in this ETF portfolio. FXN has risen 27.5% over the past month and has a Zacks ETF Rank #5 (Strong Sell) with a High risk outlook.
This large-cap ETF was under the microscope as nearly 11 million shares moved hands. This compares with average trading volume of roughly 2.1 million shares and came as IVE gained 2.2% in the last trading session.
The movement can largely be blamed on the slowdown in coronavirus infection cases that boosted investors’ confidence. IVE has gained 12.6% in a month’s time and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
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Energy and Large Caps: 2 ETFs to Watch for Outsized Volume
In the last trading session, U.S. stocks gained following the Fed’s massive $2.3-trillion program to bolster local governments and businesses impacted by the coronavirus pandemic. Among the top ETFs, (SPY - Free Report) gained 1.5%, (DIA - Free Report) rose 1.2% and (QQQ - Free Report) moved 0.1% 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.
(FXN - Free Report) : Volume 6.36 Times Average
This energy ETF was in the spotlight as more than 1 million shares moved hands compared with an average 182,000 shares a day. We also saw some price movement as FXN added 0.6% in the last session.
The move was largely the result of hopes surrounding the OPEC oil output cut deal, which was finalized over the weekend. The OPEC and its allies agreed to cut crude-oil production by 9.7 million barrels a day starting May 1 through Jun 30 of this year. The deal could have a big impact on energy stocks like the ones that we find in this ETF portfolio. FXN has risen 27.5% over the past month and has a Zacks ETF Rank #5 (Strong Sell) with a High risk outlook.
(IVE - Free Report) : Volume 5.55 Times Average
This large-cap ETF was under the microscope as nearly 11 million shares moved hands. This compares with average trading volume of roughly 2.1 million shares and came as IVE gained 2.2% in the last trading session.
The movement can largely be blamed on the slowdown in coronavirus infection cases that boosted investors’ confidence. IVE has gained 12.6% in a month’s time and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>