Volatile Day Sends These ETF Funds Soaring to New Heights – And New Lows

by Jonathan Yates | July 11, 2011 11:45 am

Volatile Day Sends These ETF Funds Soaring to New Heights – And New Lows

Concerns about the global economy had the the S&P 500 INDEX, RTH  down more than 22 points in early trading, about a 1.6% drop, to about 1,322 in the morning session.

Exchange traded funds were leading the Standard & Poor’s 500 Index both up and down.  The Proshares UltraPro S&P ETF (NASDAQ:UPRO[1]), which triples down on the S&P, was down over 4.5%, a loss of about $3.75 to take it near $79.00.  For the year, it is up more than $15.70%.  Losses in trading for Friday and today’s morning session have it lower by over 7%.   It is trading almost 12% higher than its 200 day moving average.

With financials so weak and the Greek debt situation still rattling investors, the SPDR S&P International Financial Sector ETF (NASDAQ:IPF[2]) was selling about 3% lower, around $19.35, a loss of more than 55 cents a share. The International Financial Sector ETF is selling below its 20, 50 and 200 day moving averages.  It has a relative strength index of 38.91, with 30 the floor for being considered oversold.

Global X Copper Miners ETF (NASDAQ:COPX[3]) lost more than 3.25% in early trading, about 65 cents to less than $18.90.  Down almost 5% for the year, Global X Copper Miners ETF is trading above its 20, 50 and 200 day moving averages; and is less than 10% from its year high.

The C-Tracks Volatility Index Exchange Traded Note (NASDAQ:CVOL[4]) was up more than 10%, a gain of about $2.50 to take it over $26.  Down almost 63% for the year, is up over 8.4% for the last week.  It is still trading in double digits below its 20, 50 and 200 day moving averages.

Up over 7%, about $2.30 to over $34.80, was the Barclays Short C Leveraged Inverse S&P 500 Exchange traded note (NASDAQ:BXDX[5]).  A double shot of short on the S&P 500, it is down more than 22% for the year with strong gains on Friday and today’s morning session.

Over 5% higher early on to around $15.50, more than a 70 cents gain, was another short on the S&P 500, the ProShares UltraPro Short S&P 500 (NASDAQ:SPXU[6]). Off by more than 20% for the year, it is up more than 3.4% over the last 5 trading days with Friday and this morning being its strongest showings.

Endnotes:
  1. UPRO: http://studio-5.financialcontent.com/investplace/quote?Symbol=UPRO
  2. IPF: http://studio-5.financialcontent.com/investplace/quote?Symbol=IPF
  3. COPX: http://studio-5.financialcontent.com/investplace/quote?Symbol=COPX
  4. CVOL: http://studio-5.financialcontent.com/investplace/quote?Symbol=CVOL
  5. BXDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=BXDX
  6. SPXU: http://studio-5.financialcontent.com/investplace/quote?Symbol=SPXU

Source URL: http://investorplace.com/2011/07/sp-500-index-rth-nasdq-etf-funds/
Short URL: http://invstplc.com/1nVxmvU