It’s down slightly today, but the home construction exchange traded fund (ETF) has been posting stellar gains so far this year.
Yesterday, the iShares U.S. Home Construction (ITB) came within touching distance of its 200-day moving average. Had it crossed over, it would have been the first time it has done so in 13 months. It still managed to surge to a six-month high, reports Tomi Kilgore for Forbes. Year-to-date, the fund is up 22.9%.
It’s down slightly so far today, so topping the trend line might have to wait a bit.
The other home construction-related ETF, SPDR S&P Homebuilders (XHB), has been strong this year, too: it’s up 22% year-to-date, and above its trend line.
For full disclosure, some of Tom Lydon’s clients own shares of XHB.
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