Wednesday, April 05, 2006

Institutions feelin' good about the TSX

A good measure of the growing institutional interest in the iUnits S&P/TSX 60 Index exchange-traded-fund (TEX:XIU) is the weekly average traded value Stock Trends calculates. Last week was an especially important week as trading volume for XIU was exceptionally high - Relative Volume hit 11% and over $929-million of shares traded. Much of this activity was institutional. Average traded value of XIU last week approached $350,000 - much higher than its normal level. Today's activity takes XIU ever closer to $70, spurred on by general bullishness about the resource-heavy TSX. Investors - big and small - are betting that XIU has plenty of leg left in its bullish trend.
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