Traders Take Profits on Homebuilders (XHB) (PHB) (LEN) (KBH)
Tweet
Share
E-mailGet Alerts PHM Hot Sheet
Join SI Premium – FREE
Shares of PulteGroup, Inc. (NYSE: PHM) are lower by 2.3 percent. Shares of KB Home (NYSE: KBH) and Lennar Corp. (NYSE: LEN) are also lower.
Today’s downdraft in homebuilders is more a symptom of profit taking than weakness in housing. SPDR S&P Homebuilders (NYSE: XHB) is up over 20 percent this year, making it one of the best performing sectors of the S&P 500. Many homebuilder stocks are near 52 week highs, and traders see this as an opportunity to take profits.
Traders are also paying attention to heavy insider selling at Toll Brothers Inc. (NYSE: TOL).
Today’s downdraft in homebuilders is more a symptom of profit taking than weakness in housing. SPDR S&P Homebuilders (NYSE: XHB) is up over 20 percent this year, making it one of the best performing sectors of the S&P 500. Many homebuilder stocks are near 52 week highs, and traders see this as an opportunity to take profits.
Traders are also paying attention to heavy insider selling at Toll Brothers Inc. (NYSE: TOL).
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crude Inventory Rose 2.5 Million Barrels Last Week - EIA
- Global S&P Futures mixed in premarket
- S&P Dow Jones Indices launches CLO investment grade index series
Create E-mail Alert Related Categories
ETFsRelated Entities
Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
