By Everyday Finance on April 6, 2009
In a week furthering the upward trend in equities, there were a few standout ETFs moving more than 15% for the week. Following last week’s post on 5 ETFs up over 20% for the prior week, I thought I’d share some different ETFs that were up big last week. For you momentum investors out there, these may be worth checking out.
Ultra Real Estate ProShares ETF (URE: 3.23 0.00 0.00%) - Up 32%. This 2X leveraged ETF rallied on news that home buyers are starting to come out in force, even in some of the hardest hit areas during the real estate collapse.
Direxion Developing Market Bull 3X Shares ETF (DZK: 36.415 0.00 0.00%) - Up 21%. This 3X leveraged ETF is capitalizing on the fact that developing markets were hit especially hard over the past year, more so than Western markets, so the rebound is likely to be just as pronounced. The question is whether this new bull market has legs.
Direxion Emerging Market Bull 3X Shares ETF (EDC: 53.47 0.00 0.00%) - Up 19%. Similar story to DZK; I would anticipate that these two ETFs continue to trend roughly the same direction/magnitude.
Airshares EU Carbon (ASO: 20.3299 0.00 0.00%) - Up 18%. Here’s a good article from Barron’s making the case for carbon trading and why this ETF may continue to thrive.
Elements BG Total Market ETN (BVT: 6.13 0.00 0.00%) - Up 21%. The reason I list this one is actually to impact caution. Some of these Elements ETNs are very thinly traded with wide spreads, yet, inexplicably, routinely show huge gains and losses during particular weeks. For instance, this Elements Gold ETN had beaten gold by over 400% in a span of a few weeks, then it feel to earth and is now set to be cancelled.
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