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Momentum and Mid-Cap: 2 ETFs to Watch for Outsized Volume
U.S. stocks drifted lower on the bond market rout in the last trading session. Among the top ETFs, (SPY - Free Report) lost 0.04%, (DIA - Free Report) added 0.05% and (QQQ - Free Report) moved lower by 0.29% in the last trading session.
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.
(MTUM - Free Report) : Volume 5.14 Times Average
This momentum ETF was in the spotlight as around 2 million shares moved hands compared with an average of 393,000 shares a day. We also saw some price movement, as MTUM shed 0.16% in the last session.
The move was largely due to the fund’s momentum strategy, which seeks to capitalize on the continuance of an existing market trend. This had a big impact on momentum ETFs like the ones we find in this ETF portfolio. MTUM has declined 5.7% over the past month.
(IJJ - Free Report) : Volume 3.17 Times Average
This mid-cap ETF was under the microscope as nearly 687,000 shares moved hands. This compared with an average trading volume of roughly 219.000 shares and came as IJJ shed 0.23% in the last trading session.
The movement can largely be blamed on its stability characteristics amid market turmoil relative to most other products in the space. IJJ has declined 9.5% in a month and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.