TradingMarkets 7 ETFs You Need to Know for Thursday
Country ETFs rallied on Wednesday, continuing to bounce in the wake of oversold conditions above the 200-day moving average. Meanwhile on the sector front, buyers were especially aggressive in both health care and energy shares.
Here are 7 ETFs You Need to Know for Thursday.
Two days after gapping down to oversold extremes above the 200-day moving average, the ProShares Ultra Oil & Gas ETF
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DIG |
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PowerRating) soared by more than 3% on Wednesday. This surge higher was reflected in other widely-traded ETFs such as the Energy Select Sector SPDR ETF
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XLE |
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PowerRating) and the iShares Dow Jones U.S. Energy Service Sector Index ETF
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IYE |
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PowerRating), both of which were up by more than 1% late in trading.
While most country ETFs were advancing on Wednesday, the India Fund
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IFN |
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PowerRating) closed lower for a fifth consecutive trading day. IFN lost more than 1%.
Although up on an open-to-close basis, the iShares Silver Trust ETF
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SLV |
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PowerRating) – which we highlighted in yesterday’s 7 ETFs You Need to Know for Today – continues to trade in oversold territory above its 200-day moving average.
The CurrencyShares Euro Trust ETF
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FXE |
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PowerRating) closed higher for a third day in a row as the European currency continues to rally against the greenback.
Also higher for a third consecutive session was the United States Oil Fund
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USO |
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PowerRating), which gained more than 3% on Wednesday as it climbed toward monthly highs.
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