We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Invesco QQQ (QQQ) - free report >>
SPDR S&P 500 ETF (SPY) - free report >>
SPDR Dow Jones Industrial Average ETF (DIA) - free report >>
iShares U.S. Financial Services ETF (IYG) - free report >>
Global X MLP & Energy Infrastructure ETF (MLPX) - free report >>
Image: Bigstock
MLP and Financial: 2 ETFs to Watch on Outsized Volume
In the last trading session, U.S. stocks suffered heavily after International Energy Agency (IEA) provided weak forecasts for global oil demand. It had a negative impact on crude prices and the energy sector, which in turn dragged the major benchmarks down. Among the top ETFs, investors saw (SPY - Free Report) plunge about 1.4%, (DIA - Free Report) decline around 1.4% and (QQQ - Free Report) fell about 0.9% on the day.
Two more specialized ETFs are worth noting in particular though as both saw trading volume that was far outside of normal. In fact, in the most recent trading session, both these funds experienced volume levels that were more than double their average. This could make these ETFs the ones to watch out for in the days ahead to see if this trend of extra interest continues:
(MLPX - Free Report) : Volume 3.05 times average
This MLP ETF was under the microscope on Tuesday as nearly 119,975 shares moved hands. This compares to an average trading volume of 39,390 shares and came as MLPX declined about 2.9% in the session.
The slump in oil prices emerged as the main reason behind the ETF’s decline yesterday. IEA predicted that global oil demand this year will be weaker than earlier expectations and also forecast that crude markets are poised to suffer from oversupply till the first half of the next year. However, in the last one-month period, MLPX increased nearly 1.8%.
(IYG - Free Report) : Volume 5.42 times average
This financial ETF was in focus yesterday as roughly 548,041 shares moved hands compared with an average of roughly 101,170 shares. IYG lost about 1.7% on the day.
Reducing rate hike chances in this month’s meeting following comments from some of the Fed officials and decline in broader markets dragged down the ETF into negative territory on Tuesday. However, in the last one-month period, IYG was up 1.1%. The fund has a Zacks ETF Rank #4 (Sell).
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>