In the last trading session, U.S. stocks ended up in mixed territory on soft U.S. manufacturing data but strong home construction spending and higher auto sales, indicating domestic strength. As for the top ETFs, investors saw SPY gain 0.3%, QQQ rise 0.5%, while DIA moved lower by 0.1% on the day.
Two more specialized ETFs are worth noting in particular as both saw trading volume far outside 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 in the days ahead to see if this trend of extra-interest continues:
IEF : Volume 5.6 times average
This intermediate-term Treasury Bond ETF was in focus yesterday as around 10.1 million shares moved hands on the day compared to an average of roughly 1.8 million shares. We also saw some share price movement as shares of IEF rose 0.1% yesterday.
The movement can be attributed to investors' positive sentiment toward intermediate-to-long term treasury bonds amid concerns for global growth and disinflation. For the past one month, IEF went up 1.3%. The fund currently has a Zacks ETF Rank #3 (Hold) with a High risk outlook.
HEWG : Volume 7.3 times average
This currency hedged Germany ETF was in the spotlight as roughly 8 million shares moved hands yesterday compared to an average of roughly 1.1 million shares. HEWG dropped 1.2% in the session.
The move can largely be blamed on downbeat factory data coming out of Germany with headline PMI dipping to a two-month low. HEWG slid 5.6% in the past one month but it currently has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
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