Notable ETF Movers 2/16: XME, USO, XOP Higher; UNG, VXX Lower

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February 16, 2010 1:07 PM EST

Notable ETF Movers of the Day:

Gainers

SPDR S&P Metals & Mining (NYSE: XME) up 3.68% to $51.05. Shares of the ETF are benefitting from a strengthening of gold futures on a waekened dollar.
United States Oil (NYSE: USO) up 3.77% to $37.68. Oil is up as well on the weaker dollar. The weakened dollar comes as investors are keeping their eye on Iran and their initative of developing nuclear capability for peaceful energy purposes. Iran is the second largest producer of oil in the OPEC.
SPDR S&P Oil & Gas Exploration & Prod (NYSE: XOP) up 2.45% to $41.80. Explorers are getting some love today as an official from the Environmental Protection Agency said that there was no evidence of hydrofracking, which is a drilling technique utilizing high pressure injections of water, sand, and some chemicals to open new natural gas wells, causing water contamination. The EPA has $4 million set aside to study the process further in 2011.

Receders

United States Natural Gas (NYSE: UNG) down 1.22% to $9.74. Breaking up the hydrofracking party are nat gas futures are trading lower.
iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 4.8% to $29.92. The CBOE VIX is down as investors are coming off of a long weekend, and some concerns about China are subsided as the country's markets are closed for a week due to holiday.