Wednesday's ETF Winners & Losers
Exchange-traded funds tied to natural gas were on the rise Wednesday, as prices surged a day before the latest inventory report.
Recently, natural gas jumped 25 cents to $6.18 per million British thermal units. According to
Bloomberg
, natural gas inventories rose by 61 billion cubic feet last week. The data from the Energy Department is due at 10:30 a.m. EDT Thursday.
The
United States Natural Gas
(UNG) - Get United States Natural Gas Fund Report
ETF was up $1.41, or 3.8%, to $38.39, a gain of 12% so far this week. The
First Trust ISE-Revere Natural Gas
(FCG) - Get First Trust Natural Gas ETF Report
ETF was adding 56 cents, or 2.9%, to $19.70.
Crude oil-related ETFs were also on the rise following bullish inventory data. Earlier, crude oil topped $79 a barrel for the first time ever, after the Energy Department said that crude stocks dropped a greater-than-expected 7.1 million barrels last week. The front-month October contract was recently up 67 cents to $78.90.
The
Ultra Oil & Gas ProShares
(DIG) - Get ProShares Ultra Oil & Gas Report
was rising $2.12, or 2.1%, to $102.95. The
TheStreet Recommends
PowerShares Dynamic Energy
(PXI) - Get Invesco DWA Energy Momentum ETF Report
was up 53 cents, or 1.6%, to $33.51. The
SPDR S&P Oil & Gas Exploration & Production
(XOP) - Get SPDR Oil & Gas Exploration and Production ETF Report
ETF gained 84 cents, or 1.9%, to $45.62.
Bundled securities tracking the biotech sector were also higher thanks to
Amgen
(AMGN) - Get Amgen Inc. Report
. Earlier, UBS upgraded Amgen to neutral from sell after the Food and Drug Administration panel rejected a proposal that would limit the use of anemia drugs.
The
Biotech HOLDRs
(BBH) - Get VANECK ETF TR Report
was higher by $1.92, or 1.1%, at $174.18. The
First Trust Amex Biotechnology Index
(FBT) - Get First Trust NYSE Arca Biotechnology Index Fund Report
was adding 24 cents, or 1%, to $25.42. The
iShares Nasdaq Biotechnology
(IBB) - Get iShares Biotechnology ETF Report
was up 73 cents, or 0.9%, to $82.43.
On the other hand, ETFs tracking silver futures were among the worst performers of Wednesday's session, as silver lost 13 cents to $12.70 an ounce. Gold and copper were also trading weaker.
The
PowerShares DB Base Metals
(DBB) - Get Invesco DB Base Metals Fund Report
was down 23 cents, or 0.9%, to $24.79. The
iShares Silver Trust
(SLV) - Get iShares Silver Trust Report
slid $1.32, or 1%, to $125.08. The
PowerShares DB Silver
(DBS) - Get Invesco DB Silver Fund Report
was off 26 cents, or 1%, to $24.74.
