Major stock exchange traded funds finished Monday’s session little changed despite a spate of merger news and a weaker dollar.
SPDR S&P 500 ETF (NYSEArca: SPY) closed flat, while PowerShares DB US Dollar Bullish (NYSEArca: UUP), an ETF tracking the greenback’s movement against a basket of currencies, fell 0.5%.
Metals ETFs also pulled back on Monday as iShares Silver Trust (NYSEArca: SLV) dropped nearly 4% and SPDR Gold Shares (NYSEArca: GLD) fell 1%.
Tom Lydon appeared on CNBC’s “Squawk on the Street” to discuss the overall metals market and where he sees opportunities for metal-related ETFs. [Tom Lydon on Metals Markets]
Exchange traded funds that invest in U.S. small-cap and microcap stocks got a boost Monday from rallies in Timberland (NYSE: TBL), Graham Packaging (NYSE: GRM), Ness Technologies (NasdaqGS: NSTC), M&F Worldwide (NYSE: MFW) and other undersized companies. M&A news drove several of the stocks. [Small and Microcap ETFs Rise]
A late-day push in bank stocks powered financial sector ETFs to a 1% gain on Monday. Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) rose between 1% and 4%. [Investors Look for Bounce in Bank ETFs]
A networking ETF rose on Monday thanks in part to a more than 30% rally in EMS Technologies (NasdaqGS: ELMG) after the company said it has agreed to be acquired by Honeywell (NYSE: HON) for nearly $500 million in cash. [Deal Lifts Networking ETF]
Exchange traded funds that track traditionally defensive industries such as healthcare, consumer staples and utilities have held up better than riskier sectors this year with investors expressing a cautious view on the economy. [Investors Shift Into Defensive ETFs]
Gold miners are hiking their dividends in a bid to lure investors who have instead flooded into exchange traded funds that follow the price of bullion, according to a report Monday. [Gold Miners Boost Dividends in Bullion ETF Battle]
Full disclosure: Tom Lydon’s clients own GLD and SLV.