Exchange traded funds that invest in European stocks were set for a mixed open in the U.S. on Thursday after the German parliament voted to expand the size of the bailout fund.

Market volatility and renewed hope for the Eurozone seemed to dictate where investors shifted their assets last week, according to a report.

Global equities saw the most activity last week, as renewed hope for the Eurozone gave markets an upbeat sentiment, reports ETF Edge on Seeking Alpha. The iShares MSCI EAFE Index (NYSEArca: EFA) gained 9.5% as the anti-U.S. equity theme seemed reinforced. Emerging markets were the least popular investment sector, as the iShares FTSE/Xinhua China 25 Index Fund (NYSEArca: FXI) went through net investor redemptions of $187 million, or 3.5%, according to the report.

Currency traders were all over the place, with a majority of investors pouring assets into the PowerShares DB US Dollar Bullish fund (NYSEArca: UUP) along with a new interest in the Rydex CurrencyShares Euro Trust (NYSEArca: FXE). Safe haven currency funds saw a reversal of fortune, as outflows dominated this past week. [Schwab Survey Shows Demand for ETFs Heats up While Markets Slow Down]

In the leveraged area, ultra bull funds had the most interest, with bearish funds taking a loss in assets under management. Direxion Daily Financial Bull 3x  Shares (NYSEArca: FAS) was up $206 million. The Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ) lost $260 million for the same time period. ETF Edge believes that some of this activity was due to traders rebalancing hedges. [Do Leveraged ETFs Really Exacerbate Volatility?]

Read the disclaimer; Tom Lydon is a board member of funds at Rydex|SGI.

Tisha Guerrero contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.