The iShares Global Materials ETF ( MXI ) is seeing unusually high volume in afternoon trading Friday, with over 673,000 shares traded versus three month average volume of about 31,000. Shares of MXI were off about 0.1% on the day.
Components of that ETF with the highest volume on Friday were Freeport Mcmoran ( FCX ), trading up about 4.4% with over 32.8 million shares changing hands so far this session, and Alcoa ( AA ), up about 2% on volume of over 16.9 million shares. Chemical & Mining Co. of Chile ( SQM ) is the component faring the best Friday, up by about 9.1% on the day, while Companhia Siderurgica Nacional ( SID ) is lagging other components of the iShares Global Materials ETF, trading lower by about 2%.
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