Does this ETF Own Shipping Companies or Dead Fish? (SEA)
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It has been a difficult week for shipping stocks. The Guggenheim Shipping ETF (NYSE: SEA) is lower by nearly 7 percent in the past 5 days. The downdraft is being fueled by data that showed global growth is slowing. The most recent string of negative data included weak manufacturing numbers out of the U.S., China and the EU last week.
Investors are also concerned that a summit in Europe on Thursday will turn out to be a fiasco. This could put the hurt on global growth, and as a result shipping and SEA would suffer.
The top holdings in SEA are Nippon Yusen, Mitsui O.S.K. Lines, Ltd., SembCorp Marine Ltd., and Alexander & Baldwin, Inc. (NYSE: ALEX).
Investors are also concerned that a summit in Europe on Thursday will turn out to be a fiasco. This could put the hurt on global growth, and as a result shipping and SEA would suffer.
The top holdings in SEA are Nippon Yusen, Mitsui O.S.K. Lines, Ltd., SembCorp Marine Ltd., and Alexander & Baldwin, Inc. (NYSE: ALEX).
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