Monday's ETF Winners & Losers
Exchange-traded funds tracking the real estate and housing sector were among the worst performers Monday, after a
Federal Reserve
official offered a bearish outlook for the sector.
San Francisco Fed President Janet Yellen told the National Association for Business Economics that the recent financial market turmoil will prolong the housing sector adjustment.
Vornado Realty Trust
(VNO) - Get Report
and
ProLogis
(PLD) - Get Report
were both lower by more than 1%.
The
Ultra Real Estate ProShares
(URE) - Get Report
was falling 72 cents, or 1.7%, to $41.52. The
First Trust S&P REIT
(FRI) - Get Report
ETF was down 69 cents, or 3.9%, to $17.11. The
SPDR Dow Jones Wilshire International Real Estate
(RWX) - Get Report
was off by $1.32, or 2.2%, to $58.63.
Homebuilders and construction were also under pressure.
D.R. Horton
(DHI) - Get Report
,
Lennar
(LEN) - Get Report
,
Hovnanian
(HOV) - Get Report
,
Toll Brothers
(TOL) - Get Report
and
Beazer Homes
(BZH) - Get Report
TheStreet Recommends
all slid by 2.4% or more.
The
PowerShares Dynamic Building & Construction
(PKB) - Get Report
lost 48 cents, or 2.5%, to $1.71. The
SPDR S&P Homebuilders
(XHB) - Get Report
was down 33 cents, or 1.4%, to $22.91. The
iShares Dow Jones U.S. Home Construction
(ITB) - Get Report
shed 24 cents, or 1.1%, to $21.75.
Basic materials-related ETFs were also lower. Among individual stocks,
Alcoa
(AA) - Get Report
,
Nucor
(NUE) - Get Report
and
Freeport-McMoRan
(FCX) - Get Report
were losing 1% or more.
The
Ultra Basic Materials ProShares
(UYM) - Get Report
eased $2.37, or 2.9%, to $79.36. The
iShares Dow Jones U.S. Basic Materials
(IYM) - Get Report
was off 76 cents, or 1.1%, to $67.15. The
Vanguard Materials
(VAW) - Get Report
was down 98 cents, or 1.2%, to $80.07.
There were few winners during Monday's losing session. The
United States Natural Gas
(UNG) - Get Report
ETF was rising 3.6% as natural gas tacked on 18 cents to $5.68 per million British thermal units. The ETF was up $1.23 to $35.57.
