TradingMarkets 7 ETFs You Need to Know for Friday
Energies continued to advance while sellers emerged to take profits in financial shares on Thursday. While the broader markets were largely flat, selling was aggressive in areas like technology, with semiconductors in particular moving lower on the day.
Here are 7 ETFs You Need to Know for Friday.
Given the strong run in financials over the past several days, the profit-taking in the ProShares Ultra Financials ETF
(
UYG |
Quote |
Chart |
News |
PowerRating) should come as little surprise. The 2-to-1 leveraged sector ETF lost a little over 1% in trading on Thursday, but has not re-entered oversold territory above the 200-day moving average.
Strength in energy stocks was evident in the near-4% performance of the ProShares Ulta Oil & Gas ETF
(
DIG |
Quote |
Chart |
News |
PowerRating) on Thursday. DIG has closed in overbought territory above the 200-day for eight consecutive trading days.
With all the attention on gold bullion, less emphasis has been on the companies that actually mine precious metals. Those companies, many of which can be found in the Market Vectors Gold Miners ETF
(
GDX |
Quote |
Chart |
News |
PowerRating), pulled back on Thursday, taking the GDX down nearly 2% and into oversold territory above the 200-day.
Gold, as measured by the SPDR Gold Shares ETF
(
GLD |
Quote |
Chart |
News |
PowerRating) lost well over 1% on the day, while silver, as measured by the iShares Silver Trust ETF
(
SLV |
Quote |
Chart |
News |
PowerRating) pulled back by well over 2%.
Closing lower for a third day in a row was the ProShares Ultra Semiconductor ETF
(
USD |
Quote |
Chart |
News |
PowerRating), which pulled back by more than 3%.
The iShares iBoxx Investment Grade Corporate Bond Fund ETF
(
LQD |
Quote |
Chart |
News |
PowerRating) closed for a second consecutive trading day in oversold territory above the 200-day moving average.
Trade ETFs with confidence every day with ETF PowerRatings – Get Your 7 day Free Trial Now!