Homebuilders ETF Sees Massive Volume on Powell's Dovish Comments
- State Street’s XHB took in $45 million, the most this month
- Trading in the fund was 4 times the daily average for the year
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What do you get when you cross an eight-day winning streak with seemingly dovish comments from Federal Reserve Chairman Jerome Powell? How about some serious action in an exchange-traded fund stuffed with homebuilder stocks.
Investors poured almost $45 million into the $674 million SPDR S&P Homebuilders ETF, or XHB, on Wednesday, the most this month. In addition, $442 million worth of the fund’s shares traded, the highest volume since June and quadruple the daily average for the past year.