ProShares UltraPro Short Dow30, Direxion Daily Semiconductor Bear 3X Shares, iShares MSCI Taiwan ETF and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Nasdaq gained 1% and closed at 11,257. S&P 500 ended the session at 4,019.65 after a 0.73% gain.
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.
Price action was mostly bullish yesterday with some ETFs recording abnormally high trading volumes. Here's a recap:
SDOW falls back to $24.8 after shedding 0.92% yesterday
ProShares UltraPro Short Dow30 dipped as low as $23.33 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($23.37) with ProShares UltraPro Short Dow30 closing the day at $24.8.
SOXS falls back to $29.79 after shedding 4.89% yesterday
A tough session dominated by bearish sentiment left SOXS $1.53 lower, while setting a $26.8 to $31 session range.
Approximately 2 months ago, Direxion Daily Semiconductor Bear 3x Shares reached a significant high of $80.05 but has struggled to hold onto its gains and declined 60.87% since then.
EWT closed at $41.94 after losing 0.5% yesterday
Slightly down but mostly flat: iShares MSCI Taiwan ETF ranged between $41.76 and $42.61 before closing at $41.94.
IShares MSCI Taiwan ETF reached a significant high of $67.77 around 11 months ago but has lost 37.8% since then.
— Average trading volume refers to a 21-day rolling average.