In the last trading session, U.S. stocks were in the red. Among the top ETFs, investors saw SPY shedding about 2.4%, DIA losing about 2.8% and QQQ move lower by 3.3% on the day.
Two more specialized ETFs are also worth watching 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 of the last trading session. This could make these ETFs ones to watch out for in the days ahead to see if this trend of extra-interest continues.
MVV : Volume 5.92 times average
This leveraged mid-cap ETF was under the microscope yesterday as about 833,100 shares changed hands. This compares to the average trading volume of around 140,630 shares and came as MVV lost about 3.4% in the session. The movement can largely be blamed on the renewed global slowdown fears, which is why global stocks have been staging a topsy-turvy ride. The fund has lost about 21.2% in the past one month.
AGQ : Volume 4.24 times average
This leveraged silver ETF was in the spotlight yesterday as 551, 200 shares moved hands compared with an average of roughly 130,00 shares a day. The fund gained about 3.5% in the last trading session and has been up about 16.7% in the past one month.The big move was the result of the excess volatility in the stock market and the resultant demand for the safe haven metals like silver. Also, a dip in the greenback gave a boost to metal like silver and gold.
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