“The percentages reflect ETF trading to be at three-year lows relative to overall equity trading,” the investment bank said in a report.
Related: ETF Performance Report: September & Q3 2017
On Wednesday, total composite volume on U.S. exchanges was at about 5.77 billion shares, compared to the year-to-date average of 6.45 billion, which is already the lowest daily average since 2014. In contrast, daily volume averaged 7.22 billion shares in 2016.
The lighter trading volume may suggest that more investors are adopting buy-and-hold strategies despite elevated valuations, or more are sitting on the sidelines in case of a potential pullback that could open another opportunity.
For more information on ETFs, visit our ETF Performance reports category.
CORRECTION: updated survey specifics