TradingMarkets 7 ETFs You Need to Know for Wednesday
Financial ETFs rallied off their lows on Tuesday, as did technology funds, while utilities continued to struggle.
Here are 7 ETFs You Need to Know for Wednesday.
While much attention has been focused on national and international banks, regional financial institutions have also been the target of heavy selling in recent days. Closing lower for the third consecutive session below the 200-day moving average were the KBW Regional Banking SPDRS ETF
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PowerRating) and the Regional Bank HOLDRs
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PowerRating).
Once considered save havens, utilities stocks have been among those stocks most aggressively sold over the past several days. The Utilities Select Sector SPDRS ETF
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EXC |
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The most widely traded tracking stock for the Nasdaq 100, the PowerShares QQQ ETF
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PowerRating), Microsoft
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PowerRating).
One ETF strategy for traders and investors with heavy exposure to Nasdaq 100 stocks is to hedge with a short ETF like the ProShares Short QQQ ETF
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PowerRating). The PSQ seeks to return the inverse of the Nasdaq 100 on a daily basis and is non-leveraged.
Among those stocks facing heavy selling on Tuesday were energy stocks. The Vanguard Energy ETF
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VDE |
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PowerRating), which includes Chevron
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XOM |
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PowerRating), closed below its November 2008 lows on Monday and was testing those levels again on Tuesday.
Following through on Monday’s strong advance, the PowerShares DB Agriculture Double Short ETN
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PowerRating) rallied to a new, two-month high intraday on Tuesday. AGA allows traders and investors to get both leveraged and inverse exposure to the agricultural commodities market without using futures contracts.
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