Brazilian markets and country-specific exchange traded funds surged as traders looked to Thursday’s precipitous sell-off as a buying opportunity.

The iShares MSCI Brazil Capped ETF (NYSEArca: EWZ) declined jumped 5.9% Friday on close to double its average daily volume after plummeting over 16% in the previous session.

Traders who were betting on a quick turnaround also capitalized on leveraged products, including  the two times leveraged ProShares Ultra MSCI Brazil (NYSEArca: UBR), which increased 9.9%, and the three times leveraged Direxion Daily Brazil Bull 3x Shares (NYSEArca: BRZU), which surged 16.0%.

EWZ received its first inflows since April 3 on Thursday, according to Bloomberg.

Many traders also turned to EWZ as the go-to vehicle for Brazilian equity market exposure. According to a BlackRock iShares note, EWZ traded over $5.4 billion in notional value Thursday, making it the biggest single trading day in the fund’s 17-year history. Furthermore, the Brazil ETF traded 18% more in U.S. dollar notional terms than Bovespa Futures when on average the futures traded significantly more than the ETF.

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