Japan & Broader U.S.: Two ETFs Trading with Outsized Volume
In the past trading session, U.S. stocks were in green having snapped its six-day losing streak and representing the most gainful day in about four days. A fresh rate cut in China to boost its ailing economy and contain the stock market slide as well as hunt for cheap stocks appear to be the reason for the Wall Street rally. For the top ETFs, investors saw SPY gain over 3.8%, DIA add over 3.9% and QQQ move higher by more than 5% 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, both these funds experienced volume levels that were more than double their average for the most recent trading session. This could make these ETFs ones to watch in the days ahead to see if this trend of extra-interest continues:
EWJ: Volume 3.81 times average
This Japan ETF was in focus yesterday as roughly 126 million shares moved hands compared with an average of roughly 32.95 million shares. We also saw some stock price movement as shares of EWJ advanced about 4% yesterday.
The move was possibly the result of a rate cut in China. For the month, EWJ is down about 5.3% and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
IVV: Volume 3.48 times average
This U.S. broad market ETF was under the microscope yesterday as nearly 13.4 million shares moved hands. This compares to an average trading day of 3.87 million shares and came as IVV gained over 3.9% on the session.
The movement can largely be attributed to the rebound in the broader U.S. market. Since this ETF is based on the S&P 500 index, the advance is self-explanatory. IVV was down about 5.8% in the past one-month period and the fund has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
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SPDR-SP 500 TR (SPY): ETF Research Reports
SPDR-DJ IND AVG (DIA): ETF Research Reports
NASDAQ-100 SHRS (QQQ): ETF Research Reports
ISHARS-JAPAN (EWJ): ETF Research Reports
ISHARS-SP500 (IVV): ETF Research Reports
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