The iShares Global Telecom ETF (AMEX:IXP) is seeing unusually high volume in afternoon trading Friday, with over 544,000 shares traded versus three month average volume of about 35,000. Shares of IXP were down about 0.8% on the day.
Components of that ETF with the highest volume on Friday were AT&T (NYSE:T), trading down about 0.7% with over 11.4 million shares changing hands so far this session, and Verizon Communications (NYSE:VZ), off about 0.9% on volume of over 9.6 million shares. Chunghwa Telecom (NYSE:CHT) is the component faring the best Friday, up by about 1% on the day, while Frontier Communications (NASDAQ:FTR) is lagging other components of the iShares Global Telecom ETF, trading lower by about 1.7%.
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