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TheStreet Open House

Ag ETFs Rise as Stocks Pause

Stocks in this article: UAG FUD LUV AAI FAA MGM BJK IDX ILF FXU RYU

NEW YORK ( TheStreet) -- ETFs focused on agricultural commodities were rising on Monday morning, as stocks paused for breath.

The UBS E-Tracs CMCI Agriculture TR ETN (UAG), which tracks an index consisting of 12 agriculture futures contracts, was up 6.5%. A sister ETF, UBS E Tracs Food ETN (FUD) was gaining 3.5%, while the iPath DJ-UBS Cotton TR ETN (BAL) was rising 2%.

Agricultural commodities are in demand as weather-related supply disturbances have sent prices of grains such as corn and wheat higher in the last few months.

Among equity ETFs, the Claymore/NYSE Arca Airline Index (FAA) was a major gainer, rising 4% after Southwest Airlines (LUV - Get Report) agreed to acquire AirTran Holdings (AAI) for $1.4 billion. The ETF has a 13.7% exposure to Southwest Airlines, which was surging 9.6% on Monday forenoon trading.

The Market Vectors gaming ETF (BJK) was also in focus following news on MGM Resort's (MGM - Get Report) plans to list its Macau operations.

Emerging market ETFs such as the Market Vectors Indonesia (IDX) and iShares S&P Latin America 40 ETF (ILF) dominated the equity ETF buy list, while utility ETFs such as Rydex Equal Weight Utilities (RYU) and First Trust Alphadex Utilities (FXU), up 0.3% each, were rising among domestic equities.

-- Written by Shanthi Venkataraman in New York



>To contact the writer of this article, click here: Shanthi Venkataraman.

>To follow the writer on Twitter, go to http://twitter.com/shavenk.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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