Notable ETF Movers of the Day 01/14: (SLV) Higher; (TAN) (XLK) Lower
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Gainers:
iShares Silver Trust (NYSE: SLV) gained 2 percent to 30. Action in precious metals lifted spot silver, allowing it to test resistance at $31 per ounce. Platinum also traded higher today, with Physical Platinum Shares ETF (NYSE: PPLT) higher by 1.60 percent. The move in platinum was tied to rumors of supply shortages in South Africa. Gold edged up, climbing to $1668.
Decliners:
Guggenheim Solar ETF (NYSE: TAN) declined 2 percent to 18.6. In the past 30 days, TAN climbed by 12.5 percent with huge gains seen in China solar stocks. The rally was tied to efforts by the Chinese government to help support companies in the space. Despite gains, the sector remains extremely volatile. Suntech Power (NYSE: STP) holding was among today's losers, declining 5 percent. In the past 30-days, Suntech gained 78 percent. However, shares remain at depressed levels and trade at just $1.76 cents.
Technology Select Sector SPDR (NYSE: XLK) declined 0.70 percent to 29.3. Today's selloff relates to weakness in tech giant Apple (Nasdaq: AAPL). Today's 3.6 percent selloff in AAPL is tied to renewed fears Apple is cutting orders placed with iPhone 5 component makers, which some see as a sign of weakness. Others aren't so sure. Apple is by far the largest holding in XLK with an 18.5 percent weighting. The second largest holding is IBM (NYSE: IBM). Its shares traded lower by 1 percent after an analyst downgrade. Rumors of a LBO targeting Dell (Nasdaq: Dell) also helped move the ETF higher.
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iShares Silver Trust (NYSE: SLV) gained 2 percent to 30. Action in precious metals lifted spot silver, allowing it to test resistance at $31 per ounce. Platinum also traded higher today, with Physical Platinum Shares ETF (NYSE: PPLT) higher by 1.60 percent. The move in platinum was tied to rumors of supply shortages in South Africa. Gold edged up, climbing to $1668.
Decliners:
Guggenheim Solar ETF (NYSE: TAN) declined 2 percent to 18.6. In the past 30 days, TAN climbed by 12.5 percent with huge gains seen in China solar stocks. The rally was tied to efforts by the Chinese government to help support companies in the space. Despite gains, the sector remains extremely volatile. Suntech Power (NYSE: STP) holding was among today's losers, declining 5 percent. In the past 30-days, Suntech gained 78 percent. However, shares remain at depressed levels and trade at just $1.76 cents.
Technology Select Sector SPDR (NYSE: XLK) declined 0.70 percent to 29.3. Today's selloff relates to weakness in tech giant Apple (Nasdaq: AAPL). Today's 3.6 percent selloff in AAPL is tied to renewed fears Apple is cutting orders placed with iPhone 5 component makers, which some see as a sign of weakness. Others aren't so sure. Apple is by far the largest holding in XLK with an 18.5 percent weighting. The second largest holding is IBM (NYSE: IBM). Its shares traded lower by 1 percent after an analyst downgrade. Rumors of a LBO targeting Dell (Nasdaq: Dell) also helped move the ETF higher.
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