Emerging Market And Oil: 2 ETFs To Watch On Outsized Volume
In the last trading session, the U.S. stocks were badly hit by China’s 2% devaluation of the yuan, as it raised fears about the health of the world’s second-largest economy and could spur new round of currency wars. Among the top ETFs, investors saw the SPDR S&P 500 Trust ETF (NYSEARCA: SPY ) lose 0.9%, the SPDR Dow Jones Industrial Average ETF (NYSEARCA: DIA ) shed 1.2% and the PowerShares QQQ Trust ETF (NASDAQ: QQQ ) move lower by 1.3% 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 ones to watch out for in the days ahead to see if this trend of extra interest continues: SPDR S&P Emerging Markets Dividend ETF (NYSEARCA: EDIV ): Volume 3.79 times average This emerging market ETF was in focus yesterday, as around 279,000 shares moved hands, compared to an average of roughly 77,000. We also saw some share price movement, as EDIV lost 1.4% in the last session. The movement can largely be blamed on China’s surprise move that triggered the sell-off in emerging market currencies and can have a huge impact on the stocks like what we find in this ETF’s portfolio. EDIV was down nearly 9.5% in the month, and currently has a Zacks ETF Rank #3 (Hold). The United States Brent Oil ETF (NYSEARCA: BNO ): Volume 2.47 times average This oil ETF was under the microscope yesterday, as more than 323,000 shares moved hands. This compares to an average trading day of 134,000 shares, and came as BNO lost nearly 1.7% on the session. The big move was largely the result of declining oil prices following OPEC’s latest monthly oil report, which showed that it pumped the maximum oil in three years in July. BNO was down nearly 16.4% in the past one-month period. Original Post Share this article with a colleague