The iShares Global Materials ETF ( MXI ) is seeing unusually high volume in afternoon trading Wednesday, with over 108,000 shares traded versus three month average volume of about 30,000. Shares of MXI were down about 0.3% on the day.
Components of that ETF with the highest volume on Wednesday were Gerdau ( GGB ), trading up about 1.6% with over 8.5 million shares changing hands so far this session, and Vale ( VALE ), up about 0.5% on volume of over 5.4 million shares. Albemarle ( ALB ) is the component faring the best Wednesday, higher by about 6.3% on the day, while Vulcan Materials (holding ) Common ( VMC ) is lagging other components of the iShares Global Materials ETF, trading lower by about 1.3%.
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