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Wall Street was muted last week with the S&P 500 gaining 0.02% but the Dow Jones (down 0.5%), the Nasdaq Composite (down 0.4%) and the Russell 2000 (down 0.2%) showing a downtrend. President Biden is reportedly on the way to hike the capital gain tax rate in the near term.
This probably gave way to some profit-booking while reflationary cues increased benchmark U.S. treasury bond yields last week from 1.58% (at the start of week) to 1.65% (at the end of the week). Overall, earnings came in upbeat with the big tech earnings overwhelming investors completely.
Against this backdrop, below we highlight a few ETFs that added more than 5% last week.
This fund continues to be a top-performer for past few weeks. The fund seeks to provide investors with exposure to the daily change in the price of dry bulk freight futures. 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.
iPatha.B Nickel Subindex TR ETN – Up 7.9%
Upbeat economic growth has boosted industrial metals lately. Plus, concerns on Russian nickel supply due to the mine accident in Norilsk has also pushed nickel prices higher.
Advisorshares Pure US Cannabis ETF (MSOS - Free Report) – Up 7.5%
The fund provides exposure to exchange-listed companies that are active in the cannabis industry. The segment has been hot in Biden’s presidency. In a move toward the legalization of marijuana at the federal level, on Apr 19, the U.S. House of Representatives okayed legislation that would allow banks to provide services to cannabis companies in states where it is legal. So far, 36 states have legalized medical cannabis while 17 have states given the green signal for adult use (read: Cannabis ETFs to Surge on Banking Bill Approval in House).
Vaneck Vectors Digital Transformation ETF (DAPP - Free Report) – Up 6.3%
The underlying MVIS Global Digital Assets Equity Index looks to give investors a means of tracking the overall performance of the global digital asset segment. With digitization taking control of all activities globally, the fund has every reason to outperform. This is especially true given the rising coronavirus cases and the need for social distancing and digitization.
Northshore Global Uranium Mining ETF (URNM - Free Report) – Up 6.3%
Uranium miners got a boost from improving supply/demand dynamics as well as push for more clean energy projects. Additionally, most of the stocks are undervalued, making them a bargain hunt for investors.
Dynamic Energy Exploration & Production Invesco (PXE - Free Report) – Up 6.2%
The reopening of the U.S. economy and the country’s upbeat economic growth have made the energy sector a winner thanks to bullish demand outlook. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, maintained its plans last week for a gradual easing of oil production curbs from May to July.
Transformational Data Sharing Amplify ETF (BLOK - Free Report) – Up 5.8%
Bitcoin prices hit a two-week high last week, after breaking the technical barrier. Trading in the largest digital asset has been choppy in recent weeks on overvaluation and regulatory concerns. However, last week, digital asset wrote a kind of rebound story. BLOK, which holds stocks related to the blockchain technology, probably gained from the move.
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7 ETFs Up At Least 5% Last Week
Wall Street was muted last week with the S&P 500 gaining 0.02% but the Dow Jones (down 0.5%), the Nasdaq Composite (down 0.4%) and the Russell 2000 (down 0.2%) showing a downtrend. President Biden is reportedly on the way to hike the capital gain tax rate in the near term.
This probably gave way to some profit-booking while reflationary cues increased benchmark U.S. treasury bond yields last week from 1.58% (at the start of week) to 1.65% (at the end of the week). Overall, earnings came in upbeat with the big tech earnings overwhelming investors completely.
Against this backdrop, below we highlight a few ETFs that added more than 5% last week.
Breakwave Dry Bulk Shipping ETF (BDRY - Free Report) – Up 18.1%
This fund continues to be a top-performer for past few weeks. The fund seeks to provide investors with exposure to the daily change in the price of dry bulk freight futures. 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.
iPatha.B Nickel Subindex TR ETN – Up 7.9%
Upbeat economic growth has boosted industrial metals lately. Plus, concerns on Russian nickel supply due to the mine accident in Norilsk has also pushed nickel prices higher.
Advisorshares Pure US Cannabis ETF (MSOS - Free Report) – Up 7.5%
The fund provides exposure to exchange-listed companies that are active in the cannabis industry. The segment has been hot in Biden’s presidency. In a move toward the legalization of marijuana at the federal level, on Apr 19, the U.S. House of Representatives okayed legislation that would allow banks to provide services to cannabis companies in states where it is legal. So far, 36 states have legalized medical cannabis while 17 have states given the green signal for adult use (read: Cannabis ETFs to Surge on Banking Bill Approval in House).
Vaneck Vectors Digital Transformation ETF (DAPP - Free Report) – Up 6.3%
The underlying MVIS Global Digital Assets Equity Index looks to give investors a means of tracking the overall performance of the global digital asset segment. With digitization taking control of all activities globally, the fund has every reason to outperform. This is especially true given the rising coronavirus cases and the need for social distancing and digitization.
Northshore Global Uranium Mining ETF (URNM - Free Report) – Up 6.3%
Uranium miners got a boost from improving supply/demand dynamics as well as push for more clean energy projects. Additionally, most of the stocks are undervalued, making them a bargain hunt for investors.
Dynamic Energy Exploration & Production Invesco (PXE - Free Report) – Up 6.2%
The reopening of the U.S. economy and the country’s upbeat economic growth have made the energy sector a winner thanks to bullish demand outlook. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, maintained its plans last week for a gradual easing of oil production curbs from May to July.
Transformational Data Sharing Amplify ETF (BLOK - Free Report) – Up 5.8%
Bitcoin prices hit a two-week high last week, after breaking the technical barrier. Trading in the largest digital asset has been choppy in recent weeks on overvaluation and regulatory concerns. However, last week, digital asset wrote a kind of rebound story. BLOK, which holds stocks related to the blockchain technology, probably gained from the move.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>