Copper miner exchange traded funds have been leading the bounce in equity ETFs this month on anticipation the Eurozone debt crisis is improving and better economic data.
First Trust ISE Global Copper Index Fund (NASDAQ: CU) and Global X Copper Miners ETF (NYSEArca: COPX) have rallied about 33% from their 52-week lows logged earlier this month.
For example, First Trust ISE Global Copper Index Fund traded as high as $31.38 a share on Wednesday after bottoming out at $23.60 in early October. [Copper Miner ETFs Rally 20% in a Week]
The two ETFs, which invest in miner stocks, were up about 5% in Wednesday’s stock rally.
The iPath Dow Jones- UBS Copper Sub-Index Total Return ETN (NYSEArca: JJC), which follows copper futures, gained 3%. Copper is rallying after suffering its worst monthly loss in years in September.
Global X Copper Miners ETF
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