Proshares Ultra Basic Materials ETF (UYM)

[*~1Best~*]

4 ETFs on Fire Right Now – UYG, UYM, UXI, TAN

April 10, 2009





By: Billy Fisher

Contributor, Stock Traders Daily



Not surprisingly, financial-focused ETFs have proven to be among the best performing ETFs over the past 4 weeks. Here is a look into one of these financial ETFs as well as 3 other ETFs that are on fire right now.

The stunning announcement Thursday by Wells Fargo (NYSE: WFC) that the San Francisco-based bank is expecting record first-quarter net income instantly added additional fuel to the broader banking rally as Wells Fargo shares soared 31.7% on the day. The company is one of the largest holdings of the Ultra Financials ProShares Fund (NYSE: UYG) which has been one of the best performing ETFs over the course of the past 4 weeks. This leveraged ETF has risen an eye-popping 88.8% during this time period. Investors of this fund should keep an eye out for when Goldman Sachs (NYSE: GS) reports its first-quarter earnings on Tuesday. The Wall Street Journal has reported that the company is considering an equity offering so that it can benefit from the recovery of its stock price and repay its TARP loan.
http://stocktradersdaily.com/News%20Release/News_release_TA_000020009000410fishetf.htm