Latest Stock Market News

2 ETFs to Watch for Outsized Volume on Inverse Leverage S&P 500 & Technology

In the last trading session, Wall Street was extremely upbeat. Among the top ETFs, SPY rose 2.6%, DIA advanced about 2.9% while QQQ moved 2.4% higher 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.

SPXS: Volume 2.76 Times Average

This S&P 500 inverse leveraged ETF was under the microscope as about 60.84 million shares moved hands. This compares with an average trading volume of roughly 22.04 million shares and came as SPXS lost more than 7% in the last trading session. SPXS is up 29.7% in a month’s time.

RYT: Volume 3.90 Times Average

This technology ETF was in the spotlight as around 180,065 shares moved hands compared with an average of 45,860 shares a day. We also saw some price movement as RYT gained 2.5% in the last session. RYT has slumped 10.2% over the past month.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Invesco QQQ (QQQ): ETF Research Reports
SPDR S&P 500 ETF (SPY): ETF Research Reports
SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports
Invesco S&P 500 Equal Weight Technology ETF (RYT): ETF Research Reports
Direxion Daily S&P 500 Bear 3X Shares (SPXS): ETF Research Reports
To read this article on click here.
Zacks Investment Research

Read More: 2 ETFs to Watch for Outsized Volume on Inverse Leverage S&P 500 & Technology

You might also like