The First Trust Nasdaq Oil & Gas ETF (FTXN) experienced a significant surge in trading volume on Wednesday, with over 1.9 million shares traded, compared to its three-month average of approximately 82,000. However, shares of the ETF were down about 4.5% for the day.
Among its components, Transocean saw the highest volume, trading up approximately 1.2% with over 24.7 million shares exchanged, while Venture Global dropped about 7.3% with over 12.6 million shares traded. California Resources lagged behind, with shares declining around 11%.
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