Global X Silver Miners ETF (NYSEArca: SIL)
With SLV and spot silver prices plunging, it is not surprising that the same fate has befallen the miners and ETFs such as the Global X Silver Miners ETF. Miners have faced sky-high production costs , dealt with regrettable acquisitions and dwindling cash reserves. With that in mind, it is not surprising that SIL lost more than 26% in just the first three weeks of April. [Precious Metal Miners ETFs Worst Performers Over Past Month]
PowerShares DB Base Metals Short ETN (NYSEArca: BOS)
In a sign that not all traders are convinced about the veracity of the global economic recovery, the PowerShares DB Base Metals Short ETN is down about 15% in the past 90 days. The lost was much worse before an almost 6% gain on Monday, but it took a mere 300 shares for that move to happen. Moves like that can happen on the downside as well with any lightly traded ETF or ETN, though BOS tracking an index comprised of aluminum, copper an zinc futures is the real problem in the near-term.
iShares Silver Trust
ETF Trends editorial team contributed to this piece. Tom Lydon’s clients own shares of GLD and SIL.