Traders are flocking around ProShares Ultra Bloomberg Natural Gas & Direxion Daily FTSE China Bull 3X Shares and others; check out these ETFs that are displaying higher than typical trading volumes.
A short overview of the current market situation: The leading indices are slipping — Dow Jones drawing back 0.77% to 32,900. Nasdaq trades at 10,500 after losing 1.15%.
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 are currently at high volumes. Here is an update.
Bearish ProShares Ultra Bloomberg Natural Gas currently $4.38 lower after trading as high as $36.86
ProShares Ultra Bloomberg Natural Gas is consolidating around the $36.72 level after dropping $4.38 at the start of the trading session.
Bearish Direxion Daily FTSE China Bull 3X Shares currently $2.67 lower after trading as low as $26.35
Direxion Daily FTSE China Bull 3X Shares drops $2.67 early on and steadies around the $26.46 level.
Direxion Daily FTSE China Bull 3X Shares is now trading 71.63% below the significant high of $102.67 it set around 5 months ago.
— Average trading volume refers to a 21-day rolling average.