In the last trading session, the U.S. stocks bounced back after a two-day slide shrugging off weakness in the energy sector. Among the top ETFs, investors saw SPY gain 0.8% while DIA rise 0.7% and QQQ move higher by 1.1% 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:
MCHI : Volume 3.32 times average
This China ETF was in focus yesterday as around 2.7 million shares moved hands compared with an average of roughly 837,000 shares a day. We also saw some price movement as MCHI gained nearly 1% in the last session.
The big move was largely the result of fresh stimulus hopes that could stabilize the chronic slowdown in the world's second largest economy. In the past one-month period, MCHI was down 4.6% and has a Zacks ETF Rank of 3 or 'Hold' rating with a Medium risk outlook.
IEO : Volume 3.13 times average
This energy ETF was under the microscope yesterday as around 656,000 shares moved hands. This compares with an average trading day of around 216,000 shares and came as IEO lost 0.9% in the session.
The movement can largely be blamed on sliding oil price that slumped to the lowest level not seen in more than a decade and can have a big impact on energy stocks like what we find in this ETF portfolio. IEO was down 17.3% in the past one month and has a Zacks ETF Rank of 4 or 'Sell' rating with a High risk outlook.