Market Overview

Best & Worst ETFs Of The Week Amid Tech Fueled Breakout

Best & Worst ETFs Of The Week Amid Tech Fueled Breakout

The market finally managed to break out of its trading range to notch all-time highs this week. 

This strength was primarily supported by successful quarterly earnings from consumer discretionary and technology names, which have been momentum leaders all year.  

Amazon Inc (NASDAQ: AMZN), Microsoft Corp (nASDAQ: MSFT), Google Inc (NASDAQ: GOOG)(NASDAQ: GOOGL), and Starbucks (NASDAQ: SBUX) were just some of the earnings announcements that propelled the PowerShares QQQ (NASDAQ: QQQ) to new heights on Friday. 

QQQ gained over 4 percent this week, which represents a strong vote of conviction for the bulls as we inch closer to historically temperamental summer months.  

The following ETFs represent a sample of the best- and worst-performing funds over the last five trading sessions.

BEST: Uranium Stocks

Uranium stocks easily notched their best week of the year and have convincingly broken out of their sideways malaise.  The Global X Uranium ETF (NYSE: URA) gained more than 12 percent since last Friday.

This exchange-traded fund tracks 26 companies engaged in the mining, refinement and manufacturing of equipment for the uranium industry.  URA has nearly $230 million in total assets and charges an expense ratio of 0.69 percent. 

Sector heavyweight Cameco Corp (NYSE: CCJ) represents 23.50 percent of the underlying holdings in this fund.  Recently it was announced that CCJ would be a key supplier of uranium to India, which led to a big spike in stock prices for this industry.

Related Link: Dig Into IPO ETFs

WORST: India Small Cap Stocks

In an coincidental and unrelated twist, India small cap stocks were some of the worst performers of the last five trading sessions.  The EGShares India Small Cap ETF (NYSE: SCIN) lost more than 6 percent this week as the previously red-hot India market takes a breather. 

SCIN tracks an index of 75 small company stocks domiciled in or having a significant portion of their business in India.  This market cap weighted ETF demonstrates significantly overweight sector allocations to financial and industrial stocks.  SCIN charges an expense ratio of 0.85 percent.  

Another ETF in this genre that experienced a commensurate decline in price is the Market Vectors India Small Cap ETF (NYSE: SCIF). 

Posted-In: India UraniumSector ETFs Broad U.S. Equity ETFs Emerging Market ETFs Top Stories Trading Ideas ETFs Best of Benzinga


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