Friday's ETF Winners & Losers
Oil-related exchange-traded funds were the best performers of Friday's session, as crude prices reversed early losses and pushed above the $61-a-barrel level.
The Telecom HOLDRs (TTH) ETF was higher after phone giant AT&T (T) offered regulators new concessions in a bid to get its merger with regional carrier BellSouth (BLS) approved. The deal is now valued at around $85 billion. The ETF was higher by 25 cents, or 0.7%, to $35.47.
On the flip side, exchange-traded funds tracking gold and mining stocks were among the losers. The Market Vectors Gold Miners (GDX) ETF was losing 1% to $39.76. The SPDR Metals & Mining (XME) ETF was giving back 0.9% to $49.20.Meanwhile, ETFs related to basic materials were also suffering. The Vanguard Materials (VAW) ETF was recently lower by 0.6% to $70.77. The iShares Dow Jones U.S. Basic Materials (IYM) ETF was off 0.7% to $59.10. The PowerShares Lux Nanotech (PXN) ETF was also losing ground after holding Arrowhead Research (ARWR) was sliding by nearly 3%. The ETF was falling by 13 cents, or 0.8%, to $17.26.
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