Last week it was reported that Monsanto could be eying a $40 billion takeover of Swiss rival Syngenta (NYSE: SYT). That helped MATL to a Friday pop of 5.4% on more than triple the average daily volume. Monsanto is XLB’s second-largest holding at a weight of 9.6%.
Speaking of increased volume, MATL’s volume over the past five days has been 156% above the trailing 20-day average, according to Direxion data.
Direxion Daily Basic Materials Bull 3x Shares
