Dion's Wednesday ETF Winners and Losers

NEW YORK (TheStreet) -- Here are today's ETF Winners and Losers.

Winners

Guggenheim Solar ETF (TAN) 4.5%

Solar energy stocks are reveling as selling pressure subsides and stock market indices push higher. For TAN, Wednesday's gains mark the first day of positive action since March. The fund's steep, steady downturn has pushed it back to all-time lows.

The Market Vectors Solar Energy ETF (KWT) is heading higher too. The fund also managed to close out yesterday's choppy trading session with gains.

iShares MSCI Spain Index Fund (EWP) 3.1%

After five days of losses caused the fund to give back nearly all of its 2012 gains, the Spain ETF appears to be finding some footing. The recent stirrings of stabilization are encouraging, but investors should continue to monitor the fund from the sidelines. The past few weeks have made it clear that the European debt crisis is still unresolved.

The iShares MSCI Italy Index Fund (EWI) is another battered EU ETF that is pushing higher.

Market Vectors Vietnam ETF (VNM) 4.9%

As market averages push higher and recover lost ground, risk appetites have returned. In this search for added upside, some investors are turning back to inherently volatile emerging markets. VNM is locking in brand new April highs.

Emerging markets should be approached with caution. In the event that moods reverse, funds like VNM could be in for a rocky ride.

Losers

iPath S&P 500 VIX Short Term Futures ETN (VXX) -3.6%

Yesterday's dismal trading day was capped by a surprisingly encouraging earnings showing from Alcoa (AA) (AA). This report combined with easing concerns in Europe has helped lure bulls back from the sidelines. In response, both the fear-tracking VIX index and VXX are locking in their first April losses.

United States Natural Gas Fund (UNG) -1.2%

This rebound has pushed many corners of the global marketplace higher. One resource that is failing to capitalize on the strength, however, is natural gas. Once again, UNG is locking in all-time lows as the fuel drops to levels not seen since in 2002.

This selloff is failing to drive the premium-laden iPath Dow Jones UBS Natural Gas Subindex Total Return ETN (GAZ) lower, however. On the contrary, the fund is up over 4.5% in afternoon trading.

iShares Barclays 20+ Year Treasury Bond Fund (TLT) -0.9%

A four-day string of gains helped TLT recover nearly all of its March losses. Heading into the second half of the week, however, a rekindled bullish atmosphere has put an end to this winning streak. Looking to the near term, investors may want to monitor TLT's 50-day moving average. If selling pressure returns, the fund will likely stay buoyed, but in recent weeks, we have seen the fund slip below this level.

All prices as of 2:09 PM DST