Silver ETFs were poised to rise in the U.S. on Wednesday after rallying more than 4% the previous session. Silver ETFs may climb to test their 50-day moving average following the big sell-off earlier this month. The iShares Silver Trust (NYSEArca: SLV) was up nearly 2% in premarket trading Wednesday. [Silver ETFs Rise, Eye 50-Day Moving Average]
Global X Funds has listed its own ETF targeting the global auto industry just a little over one week after First Trust launched the world’s first auto ETF. The Global X Auto ETF (NYSEArca: VROM) tries to reflect the performance of the S-Network Global Automotive Index, which is a modified capitalization-weighted index that holds publicly traded companies which produce automobiles, automobile parts, tires and related products. The index rebalances semiannually. The fund holds 50 of the world’s largest and most active auto-related companies. [Global X Spins Its Own Auto ETF]
Russell Investments has launched the first set of its own exchange traded funds as the index provider and money manager tries to reach financial advisors and institutional investors with specialized ETFs. [Russell Launches Its Own ETFs]
Gregory A. Clay contributed to this article.