Pharmaceuticals & Emerging Market: Two ETFs Trading with Outsized Volume
In the last trading session, U.S. stocks were in the red. Among the top ETFs, investors saw SPY lose about 0.4%, DIA shed over 0.5% and QQQ move lower by over 0.5% on the day. The speculation of the Fed hike as early as June took stocks off guard.
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 out for in the days ahead to see if this trend of extra interest continues:
XPH: Volume 3.06 times average
This pharmaceuticals ETF was in focus yesterday as roughly 660,000 shares moved hands compared with an average of roughly 215,000 shares. The space has been under pressure on drug pricing issues. We also saw some price movement as shares of XPH lost about 1.4% yesterday. The fund has a Zacks ETF Rank #3 (Hold). In the last one month, XPH was down about 7.3%.
IEMG: Volume 2.74 times average
This emerging market ETF was under the microscope yesterday as nearly 13.5 million shares moved hands. This compares to an average trading day of 4.95 million shares and came as IEMG lost over 0.8% in the session. The fund has a Zacks ETF Rank #3.
The movement was probably due to renewed Fed rate hike talks and a rising greenback which put pressure on emerging market ETFs like IEMG. In the past one-month period, IEMG was down about 8.9%.
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SPDR-SP PHARMA (XPH): ETF Research Reports
ISHARS-CR MS EM (IEMG): ETF Research Reports
SPDR-SP 500 TR (SPY): ETF Research Reports
SPDR-DJ IND AVG (DIA): ETF Research Reports
NASDAQ-100 SHRS (QQQ): ETF Research Reports
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