Wednesday's ETF Winners & Losers
Housing-related exchange-traded funds were among the worst decliners of Wednesday's session, after more bad news about the housing market.
The National Association of Realtors said its pending home sales index dropped 12.2% in July to a reading of 89.9, providing the latest evidence that the slowdown in housing is continuing. Over the last year, the index has fallen 16.1%.
Following the release, the Philadelphia Housing Sector Index slid 1.7%.
D.R. Horton
(DHI) - Get Report
,
Hovnanian
(HOV) - Get Report
,
Lennar
(LEN) - Get Report
and
Pulte Homes
(PHM) - Get Report
were all down 3.1% or more.
The
iShares Dow Jones U.S. Home Construction
(ITB) - Get Report
was losing 87 cents, or 3.6%, to $23.28. The
SPDR S&P Homebuilders
(XHB) - Get Report
was down 93 cents, or 3.7%, to $24.38.
Bundled securities tracking real estate were also losing ground following the report on pending home sales.
Vornado Realty Trust
(VNO) - Get Report
,
Simon Property Group
(SPG) - Get Report
and
Kimco Realty
(KIM) - Get Report
were all lower by 2% or more.
The
Ultra Real Estate ProShares
(URE) - Get Report
was falling $2.19, or 4.8%, to $43.50. The
SPDR Dow Jones Wilshire International Real Estate
(RWX) - Get Report
was down $1.54, or 2.5%, to $61.04. The
WisdomTree International Real Estate
(DRW) - Get Report
ETF was off by $1, or 2%, to $48.70.
Retail ETFs also were tumbling on the backs of several holdings.
Costco
(COST) - Get Report
, which missed analysts expectations for August same-store sales, dropped 5%.
Target
(TGT) - Get Report
,
Lowe's
(LOW) - Get Report
,
Macy's
(M) - Get Report
and
Kroger
(KR) - Get Report
were all down 2% or more.
The
PowerShares Dynamic Retail
(PMR) - Get Report
was shedding 42 cents, or 2.3%, to $17.84. The
Retail HOLDRS
(RTH) - Get Report
was lower by $2.11, or 2.1%, to $98.84. The
SPDR S&P Retail
(XRT) - Get Report
was down 89 cents, or 2.3%, to $38.73.
On the other hand, Treasury-related ETFs were among few winners of the day. Recently, the 10-year note was up 16/32 in price, cutting the yield to 4.48%. The 30-year bond was adding 26/32 in price, yielding 4.78%.
The
Vanguard Long-Term Bond
(BLV) - Get Report
was up 59 cents, or 0.8%, to $74.93. The
iShares Lehman 20+ Year Treasury Bond
(TLT) - Get Report
was gaining 62 cents, or 0.7%, to $89.18. The
iShares Lehman 10-20 Year Treasury Bond
(TLH) - Get Report
was adding 63 cents, or 0.6%, to $101.46.