In the last trading session, U.S. stocks were in the green. Already-anticipated first Fed rate hike of 25 bps did not unsettle the stocks much. Among the top ETFs, investors saw SPY and QQQ gain 1.5% and DIA move higher by over 1.2% 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, in the most recent trading session, both these funds experienced volume levels that were more than double their average. This could make these ETFs ones to watch out for in the days ahead to see if this trend of extra interest continues:
TAN: Volume 4.86 times average
This solar ETF was under the microscope yesterday as nearly 877,800 shares moved hands. This compares to an average trading volume of 180,800 shares. We also saw some great stock price movement as TAN gained about 9%.
The movement was due to the extension in solar tax credits. The tax credits for new projects of solar panels boosted solar stocks and the related ETF. In the last one-month period, TAN was up about 22.5%. The fund has a Zacks ETF Rank #4 (Sell).
(PIE – ETF report): Volume 3.78 times average
This emerging market ETF was in focus on Wednesday as roughly 385,000 shares moved hands compared to an average of roughly 101,400 shares. We also saw some stock price movement as PIE added about 1.3%.
The movement can largely be credited to the prospect of a slower rate hike trail by the Fed which was enacted yesterday, giving a fresh lease of life to most emerging market securities. In the last one-month period, PIE was down 3.2%. The fund carries a Zacks ETF Rank #3 (Hold).
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