Tuesday's ETF Winners & Losers
Updated from 12:50 p.m. EDT with new stock prices
Exchange-traded funds related to crude oil were among the worst decliners of Tuesday's losing session, as oil prices pulled back sharply from record highs.
Last time out, the December crude contract set a record close of $93.53 a barrel, but prices were recently down at $90.38 a barrel. Several oil companies fell in lockstep with the slide in oil prices, including
ConocoPhillips
(COP) - Get Report
,
ExxonMobil
(XOM) - Get Report
,
Valero
(VLO) - Get Report
and
Chevron
(CVX) - Get Report
.
Among ETFs, the
Ultra Oil & Gas ProShares
(DIG) - Get Report
was down $7.58, or 6.5%, to $109.13. The
SPDR S&P Oil & Gas Equipment & Services
(XES) - Get Report
was losing $1.60, or 4%, to $38.39. The
Oil Services HOLDRs
(OIH) - Get Report
was off $7.91, or 4.1%, to $185.71. The
iShares Dow Jones U.S. Oil Equipment Index
(IEZ) - Get Report
slid $2.45, or 3.8%, to $61.53.
ETFs tracking the financial sector were also under pressure after the
Merrill Lynch
(MER)
said embattled CEO Stan O'Neal has decided to leave the firm, effective immediately. Rumors of O'Neal's departure had boosted the stock 10.7% higher over the previous two sessions, but shares of Merrill were recently down 2.8%.
The
Ultra Financials ProShares
(UYG) - Get Report
declined by 82 cents, or 1.5%, to $54.17. The
iShares Dow Jones U.S. Broker-Dealers
(IAI) - Get Report
was lower by 61 cents, or 1.1%, to $54.03. The
Financial Select Sector SPDR
(XLF) - Get Report
was recently down 38 cents, or 1.1%, to $33.42.
Bundled securities tracking the homebuilding sector were up, however. Among individual names,
Hovnanian
(HOV) - Get Report
,
Toll Brothers
(TOL) - Get Report
,
Pulte Homes
(PHM) - Get Report
and
Beazer Homes
(MTH) - Get Report
were all higher.
The
iShares Dow Jones U.S. Home Construction
(ITB) - Get Report
was up 15 cents, or 0.7%, to $21.43. The
SPDR S&P Homebuilders
(XHB) - Get Report
was climbing 30 cents, or 1.3%, to $22.80.
Real estate-related ETFs were also among few winners after
Vornado Realty Trust
(VNO) - Get Report
posted third-quarter revenue that beat expectations. The realty company also reported funds from operations that matched estimates.
The
Vanguard REIT Index
(VNQ) - Get Report
ETF was adding 84 cents, or 1.2%, to $71.34. The
iShares FTSE Nareit Retail
(RTL) - Get Report
was up 87 cents, or 2%, to $44.50.