A busy day for SPDR S&P Regional Banking ETF, SPDR S&P Bank ETF, iPath Series B S&P 500 VIX Short-Term Futures ETN, being the prominent etfs displaying higher volumes than usual.
A recap of yesterday's session: Leading equity indices in the US declined as S&P 500 slipped 1.45% and closed at 3,861.59. Nasdaq closed at 11,139, a 1.76% change.
Why Trading Volume Matters
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
Though trading was down yesterday, some etfs reached high volumes. Here is an update.
After hitting an important low of $50.69 approximately a day ago, SPDR S&P Regional Banking ETF has bounced back 4.6% since. The fund has been trending lower for about a month.
SPDR S&P Bank ETF dropped to $39.65, its lowest point in 2 years. It later recovered $1.23 and closed at $40.88. SPDR S&P Bank ETF slid into the red after losing $1.78 and ending the session at $40.88.
IPath Series B S&P 500 VIX Short-Term Futures ETN is now trading 10.24% below the significant high of $52.93 it set around a day ago. The fund has been trending positively for about a month.
— Average trading volume refers to a 21-day rolling average.