Friday, July 2nd ETF Movers: (UNG, IPF, GDXJ, IAU, TAN, IYT, ICF, FCG)
In trading on Friday, the SPDR S&P International Financial Sector ETF (AMEX:IPF) is outperforming other ETFs, up 2.5% on the day. Components of that ETF showing particular strength include shares of Sun Life Financial Services Canada (TSE:SLF.CA), up about 1% and shares of National Bank of Canada (TSE:NA.CA), up about 0.7% on the day.
Other ETF Winners:
Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) up 1.28% on the day – After a weak start for the month, gold like iShares COMEX Gold Trust (NYSE:IAU) are rebounding and helping small miners find strength. On Friday, GDXJ is scoring some of the strongest gains among the ETF industry after yesterday’s sell-off.
Claymore/MAC Global Solar Energy Index ETF (NYSE:TAN) up 1.51% on the day – For the second day in a row, the solar energy industry is powering higher, leading to gains in TAN. First Solar is moving toward gaining approval on major projects later this month and in early fall. The rebound in the euro is helping as well. Although investors playing this alternative energy have welcomed the past two days, the industry as a whole should be approached with caution. As nations around the world focus on their deficit issues, the subsidies solar companies depend on remain threatened.
And underperforming other ETFs today is the iShares Dow Jones Transportation Average Index Fund ETF (AMEX:IYT), down about 2.30% in Friday’s trading. Among components of that ETF with the weakest showing on Friday were shares of Continental Airlines (NYSE:CAL), lower by about 9.8%, and shares of Amr (NYSE:AMR), lower by about 4.7% on the day.
Other ETF Losers:
iShares Cohen & Steers Realty Majors Index Fund (NYSE:ICF) down -2.3% on the day – ICF and other real-estate focused ETFs are taking hits today as the industry remains rocky. On Thursday, Welsh Property withdrew its IPO for the second time citing unfavorable market conditions. Although I still feel that we are in the midst of a global economic recovery, I have reservations about the real estate industry. Investors should continue to approach this slice of the market with caution and stick with REIT funds such as ICF for short-term exposure.
United States Natural Gas Fund (NYSE:UNG) down -3.08% on the day - After scoring big gains yesterday thanks to an optimistic storage report from the Energy Information Administration, the natural gas ETF is tumbling. Pressuring gas prices on Friday was news that orders for the fuel from U.S. factories had fallen. While UNG tumbled hard, the equity-based First Trust ISE-Revere Natural Gas Index ETF (NYSE:FCG) fell only slightly, dipping 0.36%
Related posts:
Most Comments