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Transportation and Floating Rate Bond: 2 ETFs to Watch on Outsized Volume

Zacks Equity Research

In the last trading session, U.S. stocks rose on economic data revealing solid gain in consumer spending, indicating strong domestic demand. As for the top ETFs, investors saw both SPY and QQQ increase 1.2%, while DIA moved higher by 1.4% 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 of 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:
 
IYT: Volume 3.2 times average.
 
This transportation sector ETF was in focus yesterday as roughly 1.2 million shares moved hands on the day compared to an average of roughly 381,000 shares. We also saw some share price movement as shares of IYT rose 1.9% yesterday.
 
Favorable retail sales data might have triggered optimism in the transportation sector and its corresponding stocks like what we find in this ETF’s portfolio. For the past one month, IYT lost 2.4% and it currently has a Zacks ETF Rank #3 (Hold) with a High risk outlook.
 
FLOT: Volume 5.2 times average.
 
This floating rate bond ETF was in the spotlight as roughly 3.4 million shares moved hands yesterday compared to an average of roughly 647,000 shares. FLOT inched up 0.02% in the session.
 
The move was largely driven by investors opting for floating rate bonds in a potential interest rate hike environment. FLOT slid 0.1% in the past one month.
 
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ISHARS-TRAN AVG (IYT): ETF Research Reports
 
ISHARS-FL RT BD (FLOT): ETF Research Reports
 
NASDAQ-100 SHRS (QQQ): ETF Research Reports
 
SPDR-DJ IND AVG (DIA): ETF Research Reports
 
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