An exchange traded fund that invests in airline stocks fell sharply Friday along with United Continental (NYSE: UAL) after the company offered a disappointing forecast for the second quarter.
The ETF hit an air pocket Friday one day after it rallied on a dive in oil prices.
Guggenheim Airline ETF (NYSEArca: FAA) was down nearly 3% while top holding United Continental fell 8% after it said flying capacity will rise less than expected in the second quarter.
Another large component, Delta (NYSE: DAL), declined 5% on Friday. The two airline stocks together account for about 30% of the ETF.
Guggenheim Airline ETF
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