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2 ETFs With Outsized Volume on Large-Cap & Revenue
In the last trading session, U.S. stocks declined due to a downbeat outlook from another giant chipmaker that has added to recession fears. Among the top ETFs, (SPY - Free Report) lost 0.4% and (DIA - Free Report) shed 0.2%, while (QQQ - Free Report) moved 1.1% lower 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.
(ITOT - Free Report) : Volume 3.39 Times Average
This large-cap ETF was in the spotlight as around 11.4 million shares moved hands compared with an average of 3.4 million shares a day. We also saw some price movement as ITOT lost 0.6% in the last session.
The move was largely due to bouts of volatility and uncertainty in the stock market that could have a big impact on large-cap ETFs like the ones we find in this ETF portfolio. Notably, large-cap stocks provide stability in the portfolio. ITOT has gained 6.6% over the past month and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
(RWL - Free Report) : Volume 2.97 Times Average
This revenue-weighted ETF was under the microscope as nearly 282,000 shares moved hands. This compares with an average trading volume of roughly 73,000 shares and came as RWL shed 0.2% in the last trading session.
The movement can largely be blamed on revenue warnings from a series of semiconductor companies. RWL has gained 5.6% in a month’s time and has a Zacks ETF Rank #3 with a Medium risk outlook.