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MARKETS LIVE BLOG:

STOCKS TRADE MIXED, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

MLP and Inverse Nasdaq: 2 ETFs to Watch on Outsized Volume

Sanghamitra Saha
Updated

In the last trading session, U.S. stocks were in the red due to the tech-induced sell-off. Added to this, a Fed rate hike, oil price declines and a probe against Trump to see if he tried to manipulate justice drove the market down. Among the top ETFs, investors saw SPY lose about 0.2%, DIA shed about 0.07% and QQQ move lower by about 0.4% 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 of the last 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:

YMLP: Volume 4.76 times average

This MLP ETF was in the spotlight yesterday as nearly 65,000 shares moved hands compared with an average of roughly 13,700 shares a day. We also saw some price movement as YMLP lost about 2.1% in the last session.

The move was largely the result of a decline in oil prices and subdued bond yields despite the Fed rate hike. This hurt the appeal for this fund which yields about 9.31% annually. YMLP was down about 6.7% in the last one month.

SQQQ: Volume 2.93 times average

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This inverse leverage Nasdaq-100 ETF was under the microscope yesterday as about 9 million shares moved hands. This compares with an average trading day of around 3.15 million shares moving hands and came as SQQQ gained about 1.4% in the session.

The movement can largely be credited to the latest tech crash on overvaluation concerns. Since Nasdaq-100 is heavy on technology shares, the move in SQQQ, which gives triple leverage inverse exposure to the NASDAQ-100 Index, is self-explanatory. SQQQ has gained about 0.2% in the last one month.

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SPDR-DJ IND AVG (DIA): ETF Research Reports
 
NASDAQ-100 SHRS (QQQ): ETF Research Reports
 
SPDR-SP 500 TR (SPY): ETF Research Reports
 
VANECK-HI MLP (YMLP): ETF Research Reports
 
PRO-ULS QQQ (SQQQ): ETF Research Reports
 
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Zacks Investment Research
 
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