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Wednesday's ETF Winners & Losers

Funds tracking basic materials jumped Wednesday, buoyed by Alcoa.

Exchange-traded funds tracking basic materials were among the top performers of Wednesday's session, thanks to a nearly 2% gain in

Alcoa

(AA)

.

Before the opening bell, Bear Stearns downgraded

Alcan

(AL)

to peer perform from outperform. Last month, Alcoa made a $27 billion bid for Alcan, and Bear Stearns said it was doubtful that Alcan would receive a rivaling bid.

The

Ultra Basic Materials ProShares

(UYM)

ETF was recently adding $1.88, or 2.2%, to $87.16. The

Materials Select Sector SPDR

(XLB)

was gaining 56 cents, or 1.4%, to $40.12. The

iShares Dow Jones U.S. Basic Materials

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(IYM)

ETF was higher by 87 cents, or 1.3%, to $69.48.

Energy-related ETFs were also among the winners Wednesday, as the latest read on crude and gasoline stocks had oil and gas prices moving higher.

The Energy Department's weekly inventory report showed a meager gain of 100,000 barrels in crude inventories. Gasoline stocks were unchanged from last week, and distillate stocks rose by only 300,000 barrels. The front-month July crude contract was up 33 cents to $65.68 a barrel, and gasoline was adding 2 cents at $2.14 a gallon.

The

SPDR S&P Oil & Gas Equipment & Services

(XES)

ETF was adding 87 cents, or 2.4%, to $36.15. The

Oil Services HOLDRs

(OIH)

was higher by $3.44, or 2.1%, to $170.56. The

iShares Dow Jones U.S. Oil Equipment Index

(IEZ)

ETF was recently up $1.12, or 1.9%, to $56.06. The

PowerShares Dynamic Oil & Gas Services

(PXJ)

was rising 51 cents, or 2.1%, to $25.04.

The

B2B Internet HOLDRs

(BHH)

ETF was also among the gainers of the day as holding

Checkfree

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added 2.1%. The ETF was recently higher by 4 cents, or 2.7%, to $2.29.

On the losing side, the

iShares Dow Jones U.S. Healthcare Provider

(IHF)

ETF was among the few decliners, down 0.5%. The ETF suffered from losses in holdings

Humana

(HUM)

,

Cigna

(CI)

and

Coventry Health

(CVH)

.

The iShares Dow Jones U.S. Healthcare Provider was down 36 cents to $59.40.

The

Internet Infrastructure HOLDRs

(IIH)

ETF was also losing ground, due to declines of 1.2% or more in holdings

NaviSite

(NAVI)

and

InfoSpace

(INSP)

. The ETF was recently lower by 3 cents, or 0.6%, to $5.39.