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Brazil and Defense: 2 ETFs to Watch on Outsized Volume

Sanghamitra Saha

In the last trading session, U.S. stocks were in the green. Among the top ETFs, investors saw SPY, DIA and QQQ gain over 0.5%, 0.4% and 0.8%, respectively, 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 of the 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:

BRZU: Volume 6.93 times average

This leveraged Brazil ETF was in the spotlight yesterday as nearly 3.93 million shares moved hands compared with an average of roughly 566,000 shares a day. We also saw some price movement as BRZU lost about 8% last session.

The big move was largely the result of corruption allegations against the current president of Brazil Michel Temer. The country’s political future and fiscal reform are now uncertain. BRZU has been down about 35.4% in the last one month.

PPA : Volume 2.72 times average

This U.S. defense ETF was under the microscope yesterday as about 290,000 shares moved hands. This compares with an average trading day of around 106,000 shares and came as PPA gained about 0.9% in the session.

The movement can largely be credited to President Trump’s signing of a $110 billion investment deal with Saudi Arabia, which looks to bolster the latter’s defense needs. PPA has advanced more than 0.9% in the last one month.

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