In the last trading session, U.S. stocks ended on a stronger note, thanks to a rebound in oil prices and upbeat housing data. Among the top ETFs, investors saw SPY go up 0.10%, DIA surge 0.24% and QQQ gain 0.08% 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:
PXE: Volume 9.13 times average
This energy ETF was in focus yesterday as around 170,000 shares moved hands compared with an average of roughly 19,000 shares a day. We also saw some price movement as PXE gained nearly 1.4% in the last session.
The movement can largely be attributed to the rally in oil price after the U.S. government data showed a decline in weekly domestic crude production for the sixth week in a row. This can have a big impact on energy stocks like what we find in this ETF portfolio. PXE was up 7.2% over the past one-month and currently has a Zacks ETF Rank of 5 or ‘Strong Sell’ rating with a High risk outlook.
IEUR: Volume 2.22 times average
This Europe-focused ETF was under the microscope yesterday as nearly 339,000 shares moved hands. This compares to an average trading volume of 153,000 shares and came as IEUR lost 0.02% in the session.
The big move came ahead of the European Central Bank’s (ECB) April meeting. Although, major changes in policy are not expected, investors are awaiting ECB President Mario Draghi to comment on future interest rate cuts and the recent strength in the currency. In the last one-month period, IEUR was up about 3.2% and currently has a Zacks ETF Rank of 3 or ‘Hold’ rating with a Medium risk outlook.
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PWRSH-DYN ENRG (PXE): ETF Research Reports
ISHRS-MSCI EUR (IEUR): 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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