ETFs with Surge in Value Traded: Week of 5/15/09

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Includes: FEZ, GAZ, IXC, JKL, PJB, RZV, SLYV, SPY, SSG, SWH, UTH
by: Ron Rowland

Here are the ten ETFs and ETNs with the largest increase in value traded (VT) for the week ending May 15, 2009. The ranking is based on a simple comparison of the five-day average value traded (closing price times volume) versus the 50-day average.

Topping the list this week is SPDR DJ Euro STOXX 50 (NYSEARCA:FEZ) with a 353% increase in value traded on a -6.3% drop in price. A quick scan of the table reveals that “distribution” was the name of the game this week, as eight of the listed products underwent price declines. Rydex S&P Smallcap 600 Pure Value (NYSEARCA:RZV), a recent market leader, suffered a -13% haircut.

HOLDRS Software (NYSE:SWH) was one of the two ETFs in this week’s screen that managed to post a price gain. It bucked the overall negative trend with a +1.8% advance. The other gainer, ProShares UltraShort Semiconductors (NYSEARCA:SSG), was merely exploiting the negative market action.

Five of the products on the list also appeared last week. They are FEZ, UTH, RZV, DSV, and GAZ. For reference, SPDR S&P 500 (NYSEARCA:SPY) lost -4.6% on a -17% change in value traded.

Ticker Name 1-wk VT Chg
FEZ DJ Euro STOXX 50 -6.3% 353%
SWH HOLDRS Software 1.8% 286%
UTH HOLDRS Utilities -4.7% 254%
RZV Rydex S&P Smallcap 600 Pure Value -13.0% 227%
DSV SPDR DJ Wilshire Small Cap Value -8.9% 196%
JKL iShares Morningstar Small Value -9.6% 152%
IXC iShares S&P Global Energy -6.0% 144%
PJB PowerShares Dynamic Banking -7.7% 137%
SSG ProShares UltraShort Semiconductors 4.3% 142%
GAZ iPath DJ AIG Natural Gas Total Ret ETN -5.2% 118%
Click to enlarge

The output in the table above is filtered so that only ETFs and ETNs with an Average Daily Value Traded (ADVT) of at least $1 million the past 21 market days are included. This includes only those products in the upper ETF Liquidity Tiers and resulted in only 410 (slightly less than 50% of the universe of US-listed ETFs and ETNs) passing the filter this week. This step eliminates many of the peculiarities associated with low volume securities.

Disclosure: no positions