September 20, 2007 at 1:20 pm by Tom Lydon
Although new home construction is at an all-time low, the same can’t be said for commercial building construction and the exchange traded fund (ETF) that follows the sector. The PowerShares Dynamic Building & Construction (PKB) ETF is up 22.0% year-to-date. PKB’s top holding at 5.8% is Fluor (FLR), which is likely the biggest factor behind the ETF’s success. Fluor shares have increased almost 65% this year, as the company won a series of big contracts, management’s profit target climbed and analysts’ earnings estimates crept higher, according to the Associated Press.
Tags: Material ETFs, Sector ETFs
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