Exchange-traded funds tracking financials followed the major markets higher Monday, as shares of
climbed on positive news.
Student lender Sallie Mae said it will be acquired by an investor group led by J.C. Flowers in a $25 billion transaction, and shares were up 17.6%. Elsewhere, Citigroup posted first-quarter earnings that beat estimates. Citigroup was adding 3.2%.
also posted a first-quarter profit that topped forecasts.
Ultra Financials ProShares
ETF was recently up 3.7% at $67.68. The
iShares Dow Jones U.S. Financial Services
ETF was adding 2.7% to $131.81. The
Financial Select Sector SPDR
ETF was higher by 2.4% to $36.57. The
iShares Dow Jones U.S. Broker-Dealers
climbed 2.5% to $55.50.
B2B Internet HOLDRs
ETF was also gaining ground, as holding
rose 2.9% in early trading. The ETF was gaining 5 cents, or 2.3%, to $2.19.
Meanwhile, ETFs tracking silver were among the day's losers. Silver futures were losing 17.5 cents to $13.91 an ounce. The
PowerShares DB Silver
was losing 1.1% to $27.34. The
iShares Silver Trust
was lower by 1% to $138.55.
Energy-related ETFs were falling as crude oil retraced early gains in a volatile session. May oil futures were tumbling 83 cents to $62.80 a barrel.
iPath Goldman Sachs Crude Oil Index
was giving back 52 cents, or 1.3%, to $37.25. The
United States Oil
ETF was lower by 66 cents, or 1.3%, to $50.86. The
PowerShares DB Oil
ETF was off 14 cents, or 0.5%, to $26.44.