Tuesday's ETF Winners & Losers
Exchange-traded funds tracking the financial and real estate sectors continued their seesaw Tuesday, trading up on news that some key players were better positioning themselves in the ongoing liquidity crisis.
In the financial space, Countrywide Financial (CFC) was on the rise, after the Wall Street Journal reported that superinvestor Warren Buffett could be interested in buying parts of it. Capital One (COF) was also making gains, despite shutting down its GreenPoint Mortgage unit and eliminating 1,900 jobs. Investors cheered the move away from the mortgage space.
The WisdomTree International Financial (DRF) was gaining 87 cents, or 3.3%, to $26.98. The PowerShares FTSE RAFI Financials (PRFF) was rising 71 cents, or 1.4%, to $50.07. The PowerShares Dynamic Banking (PJB) was advancing 31 cents, or 1.4%, to $22.80.
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