Financial ETFs Gains Volume (GS, FAZ, XLF, SKF)

Exchange-traded funds with financial stocks as their underlying component have recorded a surge in volume. The increase has been triggered due to the launch of the Securities and Exchange Commission’s inquiry into Goldman Sachs’ (NYSE: GS) operations. The largest financial ETF, Financial Select Sector SPDR Fund (NYSE: XLF), is marginally up today. The fund has approximately $7.5 billion worth of assets under management.

The Direxion Daily Financial Bear 3X Shares ETF (NYSE: FAZ) gained 10% on Friday on an all-time high volume. The fund is bearish in nature and provides triple-leveraged returns in the opposite direction of financial stocks. The fund was up by 2% in the early trading on Monday. ProShares UltraShort Financials (NYSE: SKF) also recorded higher-than-usual volumes.