HDG Volume Spikes as Sterling Infrastructure Outlook Brightens

ProShares Hedge Replication ETF (HDG) has seen unusual trading volume, which is 15× higher than its average daily volume.

Among its largest holdings, Sterling Infrastructure, Inc. (STRL) has drawn fresh analyst attention, with William Blair reiterating a Buy rating and The Street maintaining a Strong Buy consensus alongside a higher average price target. Recent research notes point to strong earnings momentum and accelerating e‑infrastructure and data center demand as key drivers behind the more optimistic 2026 outlook for Sterling, though it remains a small position in the fund by weight.