TradingMarkets 7 ETFs You Need to Know for Friday
Selling emerged following Wednesday’s big rally, helping most sector and country ETFs move lower on the day. The clearest exception to this was in the energy area, where rising crude oil prices kept energy ETFs aloft.
Here are 7 ETFs You Need to Know for Friday.
Profit-taking was most pronounced in financial ETFs on Thursday, including heavy selling in regional bank ETFs like the KBW Regional Banking SPDRS ETF
(
KRE |
Quote |
Chart |
News |
PowerRating) and the Regional Bank HOLDRS
(
RKH |
Quote |
Chart |
News |
PowerRating). KRE was down by more than 2% late in trading on Thursday while the RKH was down more than 5%. Trading below their 200-day moving averages, both funds closed above their 50-day moving averages on Thursday.
Surging crude oil prices helped boost energy ETFs like the Vanguard Energy ETF
(
VDE |
Quote |
Chart |
News |
PowerRating), which gapped up above its 50-day moving average Thursday morning en route to gaining more than 4% late in the trading day. VDE includes among its top holdings both Exxon Mobil
(
XOM |
Quote |
Chart |
News |
PowerRating) and Chevron Corporationb>
(
CVX |
Quote |
Chart |
News |
PowerRating).
Also moving lower on the day were health care related exchange-traded funds, dragged lower by selling in stocks like Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating), Merck & Co.
(
MRK |
Quote |
Chart |
News |
PowerRating) and Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating). Some of the more widely-traded health care ETFs pulling back on Thursday include the Vanguard Health Care ETF
(
VHT |
Quote |
Chart |
News |
PowerRating) and the iShares S&P Global Health care Sector Index ETF
(
IXJ |
Quote |
Chart |
News |
PowerRating).
Following through to the upside after Wednesday’s powerful oversold rally, the SPDR Gold Shares ETF
(
GLD |
Quote |
Chart |
News |
PowerRating) on Thursday closed at its highest levels since late February. The ETF is now overbought above the 200-day moving average.
Closing in overbought territory below the 200-day moving average for a fourth trading day in a row was the PowerShares DB Agriculture ETF
(
DBA |
Quote |
Chart |
News |
PowerRating). The agricultural commodities represented in the DBA are corn and wheat, soybeans and sugar.