4 ETF Areas Surged Last Week
Zacks Investment Research | Jun 14, 2021 01:00AM ET
Wall Street was a moderate position last week.Inflation data was robust, but the benchmark U.S. treasury yield still dropped to 1.47% as on Jun 11, 2021 from 1.57% recorded on Jun 7, 2021. This helped the equities, especially the growth ones, to surge. The S&P 500, the Dow Jones and the Nasdaq Composite added about 0.4%, 0.3% and 1.9% last week.
Against this backdrop, below we highlight a few ETF areas that won last week.
h3 Shipping /h3The underlying Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC Index measure rates for shipping dry bulk freight. The fund has been super strong in the recent months. The pickup in global economic growth has supported the dry bulk shipping rates. Gradually rising demand across all vessel categories has mainly aided the area and the related fund.
Breakwave Dry Bulk Shipping ETF Biotech ETFs Surge on Biogen's Alzheimer Drug Approval ).
Global X Genomics & Biotechnology ETF GNOM – Up 8.8%
Principal Healthcare Innovators Index BTEC – Up 8.3%
Ark Genomic Revolution ETF (ARKG) – Up 8.3%
Alps Medical Breakthroughs ETF (SBIO) – Up 7.4%
h3 MLPs/h3The coronavirus-led global slowdown weighed on oil demand since last year following lockdowns but growing vaccination and falling cases in the United States boosted the oil price. News of free vaccination for adults in India – one of the big consumers of oil – has also proved to be helpful for the oil markets. United States Oil Fund (NYSE:USO) LP (USO) has gained more than 40% this year (read: MLP ETFs At One-Year High: Can the Rally Sustain? ).
The jump in oil prices came despite the rising virus cases in India. Among the various corners of the energy space, MLP companies have displayed particular strength in recent weeks. These products are high-yielding in nature too.
Infracap MLP ETF AMZA – Up 7.3%
Alps Alerian MLP ETF same level of security as in-office setups . Public-sector organizations are facing massive problems. No wonder, cyber security stocks are good bets currently.
Global X Cybersecurity ETF Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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