The iShares Global Materials ETF is seeing unusually high volume in afternoon trading Friday, with over 455,000 shares traded versus three month average volume of about 42,000. Shares of MXI were off about 2.2% on the day.
Components of that ETF with the highest volume on Friday were Freeport-mcmoran, trading up about 1.2% with over 11.0 million shares changing hands so far this session, and Vale, off about 0.8% on volume of over 10.7 million shares. Newmont is the component faring the best Friday, higher by about 3.5% on the day, while Albemarle is lagging other components of the iShares Global Materials ETF, trading lower by about 5%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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