The iShares U.S. Oil & Gas Exploration & Production ETF (AMEX:IEO) is seeing unusually high volume in afternoon trading Wednesday, with over 1.0 million shares traded versus three month average volume of about 136,000. Shares of IEO were down about 1.8% on the day.
Components of that ETF with the highest volume on Wednesday were Chesapeake Energy (NYSE:CHK), trading off about 3.4% with over 10.0 million shares changing hands so far this session, and Denbury Resources (NYSE:DNR), down about 5.6% on volume of over 4.6 million shares. Sandridge Energy (NYSE:SD) is the component faring the best Wednesday, higher by about 0.8% on the day, while Penn Virginia (PVA) is lagging other components of the iShares U.S. Oil & Gas Exploration & Production ETF, trading lower by about 6.5%.
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