Mid-Cap Growth & High Dividend: Two ETFs Trading With Outsized Volume
In the last trading session, the U.S. stocks were in green, receiving a boost from the Fed-related optimism which hinted at a delayed lift-off. Hopes for cheap money inflows at least throughout this year continue to set the stage for U.S. stocks for the last few sessions.
Most market watchers are no longer seeing a lift-off at the December Fed meeting following definite signs of labor market slowdown over the last three months. Among the top ETFs, investors saw SPY gain about 0.9%, DIA add over 0.8% and QQQ move higher by about 0.4% 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 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:
IVOG: Volume 4.22 times average
This mid-cap U.S. growth ETF was in focus yesterday as roughly 58,000 shares moved hands compared to an average of roughly 13,700 shares. We also saw some stock price movement as shares of IVOG added about 0.9% yesterday.
The recent economic backdrop apparently works out a deal for mid-cap growth ETFs like IVOG. While large companies are normally known for stability and the smaller ones for growth, mid caps offer the best of both the worlds, simultaneously allowing growth and stability in portfolios. A moderately growing U.S. economy and a dovish Fed thus make the bet stronger for mid-cap growth ETFs. The fund has a Zacks ETF Rank #1 (Strong Buy). For the month, IVOG is up about 1.6%.
PEY: Volume 3.36 times average
This high dividend U.S. equities ETF was under the microscope yesterday as nearly 462,393 shares moved hands. This compares to an average trading day of 137,460 shares and came as PEY returned 1.4% in the session.
The movement can largely be attributed to a drop in Treasury bond yields post a somber job data. This in turn brightened the appeal for high-yield investing instruments like what we find in this ETF’s portfolio. The fund has a Zacks ETF Rank #3 (Hold). For the month, PEY is up about 6.2%.
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