Notable ETF Movers of the Day 11/02: (VNQ) Higher; (GDX) (TAN) Lower

November 2, 2012 12:53 PM EDT

Vanguard REIT Index ETF (NYSE: VNQ) gained 1.2 percent to 65.44. Simon Property Group (NYSE: SPG) gained 2.4 percent after it was upgraded by analysts at Stifel Nicolaus. Simon property is the top holding in VNQ with an 11 percent weighting.


Market Vectors Gold Miners ETF (NYSE: GDX) declined 3.3 percent to 50.25. Gold miners were slammed on Friday. The collapse is related to a sharp drop in the spot price of gold, which is seeing the largest daily drop in months. The drop is tied to a better than expected jobs number.

Guggenheim Solar (NYSE: TAN) declined 1.6 percent to 14.77. Shares of First Solar are lower by 8 percent, a day after reporting quarterly earnings after the bell on Thursday. While numbers were solid, analyst expressed concern about the profitability of several projects, which resulted in a downgrade by analysts at Cantor Fitzgerald. Related solar stocks appear stable on Friday, with Suntech Power Holding (NYSE: STP) higher by 3.65 percent.

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