Notable ETF Movers of the Day 11/14: (SOCL) Higher; (GDX) (XLF) Lower

November 14, 2012 3:20 PM EST Send to a Friend
Gainers:

Global X Social Media Index ETF (NYSE: SOCL) gained 0.55 percent as shares of Facebook (Nadaq: FB) took off. FB stock came out of the gate strong this morning and continued higher for most of the day, culminating in what some are calling a short squeeze. 852 million shares of Facebook exited lock-up today, and investors appear to be pleased the event has past, though insiders are still free to sell shares down the road. Facebook is the 5th largest holding in SOCL.

Decliners:

Market Vectors Gold Miners ETF (NYSE: GDX) declined 2.9 percent. Gold miners saw plenty of action on Wednesday, with both the junior miners (NYSE: GDXJ) and large gold stock falling. Among large cap stocks in the space, shares of Randgold (Nasdaq: GOLD) posted noticeably large losses, shedding 5.5 percent. Meanwhile, spot gold and SPDR Gold Shares (NYSE: GLD) posted a slight gain of 0.25 percent, puzzling some investors.

Financial Select Sector SPDR (NYSE: XLF) declined 1 percent to 15.30. Banks came under pressure on Wednesday, with Bank of America (NYSE: BAC) taking the brunt of the damage, declining 2.2 percent. Bank of America’s name was on more than one news headlines today, most of them negative, and most related in one way or another to mortgage-back securities.


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