TradingMarkets 7 ETFs You Need to Know for Thursday
Sellers were aggressive in ETFs across the board, with profit-taking in financial and real estate related ETFs like the ProShares Ultra Real Estate ETF
(
URE |
Quote |
Chart |
News |
PowerRating) leading the way.
Here are 7 ETFs You Need to Know for Thursday.
Dropping by more than 2% intraday on Wednesday was the ProShares Ultra Financials ETF
(
UYG |
Quote |
Chart |
News |
PowerRating). UYG is leveraged two-to-one to the daily return of the Dow Jones U.S. Financial Services Index of stocks such as JP Morgan Chase
(
JPM |
Quote |
Chart |
News |
PowerRating) and Wells Fargo
(
WFC |
Quote |
Chart |
News |
PowerRating).
Which high PowerRating ETFs will traders be watching over the next few days? The Industrial Select Sector SPDRS ETF
(
XLI |
Quote |
Chart |
News |
PowerRating) experienced a major PowerRatings upgrade on Wednesday as did the PowerShares Golden Dragon Halter USX China Index ETF
(
PGJ |
Quote |
Chart |
News |
PowerRating). Both XLI and PGJ are trading in oversold territory above the 200-day moving average.
Speaking of China, the most oversold ETF in our database happens to be another China-related ETF, the iShares FTSE/Xinhua China 25 Index ETF
(
FXI |
Quote |
Chart |
News |
PowerRating). FXI was down well over 1% intraday on Wednesday before rallying into the close.
Buying pressure continued in bond ETFs on Wednesday, as weakness in the equities market encouraged money flows into fixed income. Closing up for a seventh consecutive trading day was the iShares Barclays 20+ Year Treasury Bond ETF
(
TLT |
Quote |
Chart |
News |
PowerRating), which trades below its 200-day moving average.
Oil prices rebounded on Wednesday, sending the United States Oil Fund
(
USO |
Quote |
Chart |
News |
PowerRating) higher by more than 5% in trading on Wednesday. Ironically, it was the ProShares UltraShort Oil & Gas ETF
(
DUG |
Quote |
Chart |
News |
PowerRating) that gained over 1% on the day.
Trade ETFs with confidence every day with ETF PowerRatings – Get Your 7 day Free Trial Now!