Notable ETF Movers of the Day 06/13: (FXI) (FXE) (TAN) Higher; (UNG) (SLV) (EWT) Lower
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Gainers
Receders
- iShares FTSE China 25 Index Fund (NYSE: FXI) up 0.99 percent to $42.74. A note from research firm China International Capital Corp. was bullish on the prospect for China's stocks to rally as inflation peaks in China sometime this summer.
- CurrencyShares Euro Trust (NYSE: FXE) up 0.33 percent to $143.26. Bullish comments from ECB President Jean-Claude Trichet stating that "Those who question the viability of the euro area as a single currency area on the grounds of economic heterogeneity are misguided" is adding some strength to the euro.
- Guggenheim Solar (NYSE: TAN) up 1.06 percent to $6.67. The solar ETF is seeing a bit of a bounce today, following several straight sessions of declines as big names like SunPower (Nasdaq: SPWRA) and LDK Solar (NYSE: LDK) haven't spurred too much buying with financil metrics and guidance. The ETF is off over 23 percent since hitting a recent high of nearly $9 at the end of April.
Receders
- United States Natural Gas (NYSE: UNG) down 1.95 percent to $11.85. Natural gas futures are lower today following a cooler weather outlook over the next several days as well as the re-start of several nuclear plants toward the end of summer, according to Caccord Genuity. July contracts are $0.086 lower to $4.671 per mmBtu on the Comex.
- iShares Silver Trust (NYSE: SLV) down 1.96 percent to $34.56. Silver and other precious metals trading lower today following reports from China that its M2 money supply increased 15.1 percent through May, shy of the 15.5 percent expected.
- iShares MSCI Taiwan Index (NYSE: EWT) down 0.95 percent to $15.18. Taiwan is experiencing a market correction of sorts, led by mobile device OEM HTC. One source notes that the adjustment was from over optimism on HTC third quarter outlook. HTC shares are down nearly 7 percent today. The Taiwan Stock Exchange finished over 1.4 percent lower.
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