Notable ETF Movers of the Day 02/11: (TAN) Higher; (GDX) (OIH) Lower
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Gainers:
Guggenheim Solar ETF (NYSE: TAN) gained 3 percent to 18.5. SunPower Corporation (Nasdaq: SPWR) led the charge, gaining 13.9 percent. First Solar (Nasdaq: FSLR) was also a big mover today, gaining 6.4 percent. SunPower and First Solar are two of the largest holdings in Guggenheim Solar ETF, with 5 and 8.5 percent weightings, respectively. Today’s move appears to be related to reports on solar bonds, a rumored investment vehicle that will allow investors to invest in solar panels in return for a steady stream of income.
Decliners:
Market Vectors Gold Miners ETF (NYSE: GDX) declined 1.65 percent to 41.6. Weakness in gold miners relates to a drop in the spot price of gold, as well as weakness in individual names like Compa (NYSE: BVN). The price of spot gold declined to $1650 per ounce, in part because of volatility given thin markets due to the Asian lunar holiday. Frustration about poor, long term performance is also weighing on the spot price of gold.
Market Vectors Oil Services ETF (NYSE: OIH) declined 1.15 percent to 43.1. Weatherford International Ltd. (NYSE: WFT) was among the losers, falling 2.65 percent. In the past 30 days, Weatherford is higher by over 15 percent, and today’s slide could be related to profit taking.
Guggenheim Solar ETF (NYSE: TAN) gained 3 percent to 18.5. SunPower Corporation (Nasdaq: SPWR) led the charge, gaining 13.9 percent. First Solar (Nasdaq: FSLR) was also a big mover today, gaining 6.4 percent. SunPower and First Solar are two of the largest holdings in Guggenheim Solar ETF, with 5 and 8.5 percent weightings, respectively. Today’s move appears to be related to reports on solar bonds, a rumored investment vehicle that will allow investors to invest in solar panels in return for a steady stream of income.
Decliners:
Market Vectors Gold Miners ETF (NYSE: GDX) declined 1.65 percent to 41.6. Weakness in gold miners relates to a drop in the spot price of gold, as well as weakness in individual names like Compa (NYSE: BVN). The price of spot gold declined to $1650 per ounce, in part because of volatility given thin markets due to the Asian lunar holiday. Frustration about poor, long term performance is also weighing on the spot price of gold.
Market Vectors Oil Services ETF (NYSE: OIH) declined 1.15 percent to 43.1. Weatherford International Ltd. (NYSE: WFT) was among the losers, falling 2.65 percent. In the past 30 days, Weatherford is higher by over 15 percent, and today’s slide could be related to profit taking.
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