A nearly 4% jump in a homebuilder ETF in Friday’s risk-on, quarter-end rally carried the volatile sector fund to its highest level since 2008.
The iShares Dow Jones US Home Construction (NYSEArca: ITB) is on a four-day winning streak and on track for a gain of 10% for the week.
Kimble Charting Solutions noted the homebuilder ETF breakout in a note Friday.
The housing fund was up 36.2% year to date as of June 28, versus a 6.8% gain for the S&P 500, according to Morningstar. The ETF competes with SPDR S&P Homebuilders (NYSEArca: XHB).