Financial Select Sector SPDR Fund (NYSEArca: XLF)
ETFs that track gold bullion and miner stocks have been moving in different directions lately with the shares following equity markets lower. Market Vectors Gold Miners (NYSEArca: GDX) closed down approx 2.25% in afternoon trading Wednesday. It entered the session with an 11% year-to-date loss, according to Morningstar. SPDR Gold Shares (NYSEArca: GLD), which holds bullion, was fractionally lower Wednesday but has been steadily climbing since the sell-off in precious metals in early May. It is up about 8% so far in 2011. [Gold and Miner ETFs Part Ways]
Solar energy ETFs were sharply lower Wednesday as a disappointing forecast from LDK Solar (NYSE: LDK) and pricing worries clouded the volatile sector. Weakness in prices for solar products will eat into profit margins for SunPower Corp (NasdaqGS: SPWRA) and LDK Solar, the companies said, according to Reuters. LDK shares fell 7.5% Wednesday while another sector ETF component, Trina Solar (NYSE: TSL), dropped about 10%. [LDK, Trina Rain on Solar Energy ETFs]
Gregory A. Clay contributed to this article.