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Europe and Inverse S&P 500: 2 ETFs to Watch on Outsized Volume
In the last trading session, rising rate worries, some downbeat earnings form the semiconductor sector and geopolitics punished U.S. stocks. Among the top ETFs, investors saw (SPY - Free Report) , (DIA - Free Report) and (QQQ - Free Report) slide by 3.1%, 2.4% and 4.4% 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:
DFE: Volume 3.86 Times Average
This Europe-focused small-cap dividend ETF was under the microscope yesterday as about 292,000 shares moved hands. This compares with an average trading day of roughly 77,500 shares and came as EPS shed about 2.3% in the trading session.
The movement can largely be blamed on the budget squabble between Italy and the European Union. The fund was down about 13.6% in a month’s time and has a Zacks ETF Rank #3 with a Medium risk outlook.
SPXS: Volume 3.39 Times Average
This inverse leveraged S&P 500 ETF was in the spotlight yesterday as nearly 13.7 million shares moved hands compared with an average of 4.20 million shares a day. We also saw some price movement as SPXS gained about 9.1% in the last session.
The big move was largely the result of the broader market selloffs that pushed the S&P 500 lower and boosted the inverse fund. SPXS has gained 29.8% in the past month.
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