Notable ETF Movers of the Day 12/20: (VNQ) (XLF) Higher; (GDX) Lower
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Gainers:
Vanguard REIT Index ETF (NYSE: VNQ) gained 1.15 percent to 66.35. REITs gained on positive housing data in the form of existing home sales, which came in higher than expected. Existing home sales totaled 5.04 million in November, exceeding expectations of 4.9 million. Prologis, Inc. (NYSE: PLD) was a standout name in the sector, gaining 2.5 percent.
Financial Select Sector SPDR (NYSE: XLF) gained 1 percent to 16.6. In the past 5-days, XLF is higher by 3.75 percent. The uptick relates to overall improving conditions at banks. Of note, on Monday analyst Meredith Whitney upgraded Citigroup (NYSE: C), Bank of America (NYSE: BAC) and Discover (NYSE: DFS) to Buy. Since then, XLF has been off to the races.
Decliners:
Market Vectors Gold Miners ETF (NYSE: GDX) declined 1.85 percent to 44.5. The decline in related equities is tied to a collapse in the spot rate of gold. At $1645 per ounce, gold traded at its lowest level since late August. A breakdown in technicals, along with fiscal cliff talks, is causing weakness, say traders. AngloGold Ashanti Ltd. (NASDAQ: AU) is among losers and is lower by 2 percent.
Vanguard REIT Index ETF (NYSE: VNQ) gained 1.15 percent to 66.35. REITs gained on positive housing data in the form of existing home sales, which came in higher than expected. Existing home sales totaled 5.04 million in November, exceeding expectations of 4.9 million. Prologis, Inc. (NYSE: PLD) was a standout name in the sector, gaining 2.5 percent.
Financial Select Sector SPDR (NYSE: XLF) gained 1 percent to 16.6. In the past 5-days, XLF is higher by 3.75 percent. The uptick relates to overall improving conditions at banks. Of note, on Monday analyst Meredith Whitney upgraded Citigroup (NYSE: C), Bank of America (NYSE: BAC) and Discover (NYSE: DFS) to Buy. Since then, XLF has been off to the races.
Decliners:
Market Vectors Gold Miners ETF (NYSE: GDX) declined 1.85 percent to 44.5. The decline in related equities is tied to a collapse in the spot rate of gold. At $1645 per ounce, gold traded at its lowest level since late August. A breakdown in technicals, along with fiscal cliff talks, is causing weakness, say traders. AngloGold Ashanti Ltd. (NASDAQ: AU) is among losers and is lower by 2 percent.
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