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Volume Soars In Rapidly Weakening Bank ETF

From Zacks: In the last trading session, U.S. stocks were slightly positive after a bloodbath the day earlier as investors await the outcome of Trump’s Health Care plan voting.

Among the top ETFs, investors saw SPY gain over 0.2%, and (DIAFree Report) add about 0.03% and (QQQFree Report) move higher by 0.7% 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 in 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:

KBE: Volume 3.48 times average

This financial ETF was in the spotlight yesterday as nearly 9 million shares moved hands compared with an average of roughly 2.59 million shares a day. We also saw some price movement as KBE lost nearly 0.40% last session.

The movement can largely be due to a slower rate hike trajectory guided by the Fed for this year. This can have a huge impact on financial stocks – that perform well in a rising rate environment– like what we find in this ETF portfolio. KBE was down 8.3% in the past one month and has a Zacks ETF Rank of 1 or ‘Strong Buy’ rating with a High risk outlook.

SH: Volume 2.49 times average

This inverse S&P 500 ETF was under the microscope yesterday as more than 3.97 million shares moved hands. This compares with an average trading day of around 1.60 million shares and came as SH shed about 0.14% in the session. SH, however, gained 0.5% in the past one month.

The SPDR KBW Bank ETF (NYSE:KBE) was unchanged in premarket trading Thursday. Year-to-date, KBE has declined -4.14%, versus a 4.92% rise in the benchmark S&P 500 index during the same period.

KBE currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #21 of 38 ETFs in the Financial Equities ETFs category.

This article is brought to you courtesy of Zacks Research.

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