This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Friday's ETF Winners & Losers

Exchange-traded funds tracking homebuilders, financials and REITs were all falling hard Friday, as investors fretted about the health of credit markets.

Shares of American Home Mortgage (AHM) slid nearly 50% after it said it is slashing roughly 90% of its workforce, and published reports now say the company will shut down after failing to find a buyer for its operations.

Among REIT-related ETFs, the iShares FTSE NAREIT Mortgage REITs (REM) was dropping $1.63, or 4.8%, to $32.59. The Ultra Real Estate ProShares (URE) ETF gave back $1.37, or 3.2%, to $41.50. The Vanguard REIT Index (VNQ) ETF was tumbling $1.46, or 2.2%, to $65.58.

In the financial sector, Bear Stearns (BSC) was getting crushed after Standard & Poor's cut its rating outlook for the broker to negative, from stable. Earlier this week, the company said it is facing losses in a third mortgage-related fund. The stock was recently down 2.2%.

Other lenders and finance names were losing ground. Countrywide (CFC), Lehman Brothers (LEH) and Merrill Lynch (MER) slid 2% or more.

The Rydex S&P Equal Weight Financials (RYF) was dropping $1.40, or 3%, to $45.76. The First Trust Financials AlphaDex (FXO) ETF was down 39 cents, or 2.2%, to $17.71. The PowerShares Dynamic Financials (PFI) was giving back 42 cents, or 1.7%, to $24.32.

Homebuilders were feeling the crunch as well. Beazer Homes (BZH), D.R. Horton (DHI), Hovnanian (HOV) and Meritage Homes (MTH) were losing 4% or more.

The iShares Dow Jones U.S. Home Construction (ITB) was shedding $1.13, or 4.2%, to $25.70. The SPDR S&P Homebuilders (XHB) was lower by $1.10, or 4.1%, to $25.93.

ETFs tracking precious metals were among few winners of a losing session, as gold and silver prices were on the rise. Recently, gold futures were adding $1.10 to $668.80 an ounce, and silver was higher by 12 cents to $13.11 an ounce.

The PowerShares DB Silver (DBS) was adding 26 cents, or 1%, to $25.71. The PowerShares DB Gold (DGL) gained 29 cents, or 1.1%, to $26.49. The iShares Comex Gold Trust (IAU) was climbing by 51 cents, or 0.8%, to $66.43. The iShares Silver Trust (SLV) was up $1.03, or 0.8%, to $130.06.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
DBS $25.25 0.00%
DGL $38.84 0.00%
FXO $23.77 0.00%
ITB $26.98 0.00%
PFI $31.60 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs