ProShares S&P Kensho Smart Factories ETF (MAKX) has seen unusual trading volume, which is 30× higher than its average daily volume.
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Among its key industrial automation holdings, Emerson Electric, a 5.2% weight in the ETF, is in focus ahead of its second-quarter earnings report scheduled for May 5, with Wall Street expecting higher EPS and revenue after the company’s prior earnings beat and modest year-to-date share gains. Zebra Technologies, which accounts for 4.5% of the portfolio, is drawing attention as AI-driven stock models show a wide split in views, with bullish models pointing to strong cash generation, upbeat guidance, and buybacks, while more cautious models highlight uneven growth, rising leverage, and valuation concerns that could fuel ongoing volatility.