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The popularity of exchange-traded funds continues to grow at an amazing pace. Fifteen years after the first ETFs appeared in the United States, exchange-traded funds are now among the most widely traded securities in the market.
Here are 7 ETFs You Need to Know for Thursday.
Reflecting a near-400 point drop in the Dow Jones Industrial Average on Wednesday, the Dow Diamonds exchange-traded fund, DIA (DIA | Quote | Chart | News | PowerRating) was down more than 4%. One way traders are hedging against declines in the Dow 30 stocks is through inverse ETFs like the ProShares Short Dow 30 ETF, DOG (DOG | Quote | Chart | News | PowerRating).
Financials were the major laggards on Wednesday. The most widely traded financial-related ETF is the SPDRS Select Financial ETF, XLF (XLF | Quote | Chart | News | PowerRating).
Nearing its October highs, the ProShares UltraShort Basic Materials ETF, SMN (SMN | Quote | Chart | News | PowerRating) was up more than 15% on Wednesday.
Not surprisingly, emerging markets ETFs were among those moving most aggressively lower. The iShares FTSE/Xinhua 25 ETF, FXI (FXI | Quote | Chart | News | PowerRating) lost more than 8% on Wednesday. The India Fund, IFN (IFN | Quote | Chart | News | PowerRating) was down more than 6%.
The announcement from Microsoft (MSFT | Quote | Chart | News | PowerRating) signaling that the acquisition talks were "done" with Yahoo (YHOO | Quote | Chart | News | PowerRating), helped send traders out of technology stocks on Wednesday. The SPDRS Select Technology ETF, XLK (XLK | Quote | Chart | News | PowerRating) closed lower for the third out of the past four sessions.
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