Benzinga's Top ETF Gainers (EDZ, ZSL, ERY, FAZ)
The market suffered huge losses today, but some bear ETFs gained more than 10% on that weakness.
Direxion Daily Emerging Markets Bear 3x Shares (ETF) (NYSE: EDZ) led the gainers among the ETFs today with an increase of 13.88%. EDZ seeks daily investment results of 300% of the inverse of the performance of the MSCI Emerging Markets Index.
Silver futures fell almost 7% today, while ProShares UltraShort Silver (ETF) (NYSE: ZSL) gained 13.44% on silver's downturn. ZSL had a volume of 3.2M traded shares.
Direxion Daily Energy Bear 3X Shares (ETF) (NYSE: ERY) gained 12.16% on the weakness of the energy stocks. Schlumberger Limited (NYSE: SLB) dropped 4.71%, ConocoPhillips (NYSE: COP) fell 3.66% and Occidental Petroleum Corporation (NYSE: OXY) lost 4.61%.
Financials stocks were also down today, which is good for Direxion Daily Financial Bear 3X Shares (ETF) (NYSE: FAZ). FAZ added 11.75%, while Bank of America Corporation (NYSE: BAC) dropped 3.35%. JPMorgan Chase & Co. (NYSE: JPM) suffered a 4.82% loss and Wells Fargo & Company (NYSE: WFC) dropped 3.84%.
