The iShares Global Materials ETF (AMEX:MXI) is seeing unusually high volume in afternoon trading Thursday, with over 453,000 shares traded versus three month average volume of about 39,000. Shares of MXI were up about 0.3% on the day.
Components of that ETF with the highest volume on Thursday were Vale (NYSE:VALE), trading down about 2% with over 14.6 million shares changing hands so far this session, and Freeport McMoran (NYSE:FCX), off about 0.4% on volume of over 10.8 million shares. Nucor (NYSE:NUE) is the component faring the best Thursday, higher by about 2.9% on the day, while Newmont Mining (NYSE:NEM) is lagging other components of the iShares Global Materials ETF, trading lower by about 3.3%.
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