Additionally, iShares 7-10 Year Treasury Bond Fund (NYSEArca: IEF) experienced elevated volume yesterday.
“The volume in the 7-10 year products was extraordinary,” said Chris Hempstead, director of ETF execution services at WallachBeth.
The Treasury ETFs saw hundreds of millions of dollars of redemptions, so he speculated the activity could be a monthly rebalance trade on the first trading session of June.
ProShares Ultra 7-10 Year Treasury ETF