TradingMarkets 7 ETFs You Need to Know for Wednesday
The only thing more remarkable than the rout in emerging markets on Tuesday was the drop in exchange-traded funds related to oil and oil service stocks.
This meant that short oil service ETFs were among the best performers, with the most widely-traded, leveraged short oil and gas exchange-traded fund gaining
more than 9%.
With regard to emerging markets funds, ETFs based on stock markets in Latin America were among those making the biggest pullbacks on the day. The leading Brazilian stock market indexed exchange-traded fund, for example, was down more than 4%.
Here are 7 ETFs You Need to Know for Wednesday.
Opening up several points above Friday’s close, the ProShares UltraShort Oil & Gas ETF, DUG
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Conversely, exchange-traded funds that were positively correlated to oil and oil service stocks pulled back sharply. The Oil Service HOLDRS, OIH
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The iShares Brazil Index Fund, EWZ
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As part of the broad-based selling in emerging markets, the iShares MSCI Emerging Markets Index ETF, EEM
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Up for four days in a row going into trading on Tuesday, the ProShares UltraFinancials exchange-traded fund, UYG
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The Select Energy Sector SPDRs, XLE
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Among the lesser traded ETFs, the PowerShares DB U.S. Dollar Bullish exchange-traded fund, UUP
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PowerRating), gapped up to levels not reached since December 2007.
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David Penn is Editor-in-Chief at TradingMarkets.com.