I was quite surprised to see the following behavior this morning for the following exchange traded fund: VANGUARD INDEX FDS SMALL CP ETF (VB: AMEX).
Note the "day's range" -- it appears that for a brief 10 or 20 minute period shortly after today's market opening, the price of this ETF soared more than 25%, then dropped back down near its "normal" price.
Open 71.23 Previous Close 68.20 Day's Range 69.78 - 90.50
There were also two spikes in trading volume, one buy, one sell, which fits.
Is there something I should know that explains this type of behavior? If someone were to check the 52-week high/low values for this fund in the near future, is there any way to easily determine that the "high" was a twenty-minute anomaly, and not a normal valuation?
Yes, I know the Fed's interest rate announcement had an immediate impact on the market, but 25+%???
-Mark Bole