Monday, May 24, 2021 – Growth and value stocks seemed to battle it out last week leaving the major U.S. equity indexes with mixed and minor overall movements. A deceleration in housing starts and existing home sales from April did little to move markets as investors appeared more focused on upcoming reports.
Perhaps the biggest headlines and market movements centered around the big sell off in cryptocurrency. The yield on the 10 Year Treasury remained steady decreasing just one basis point to 1.63% seemingly indicating a lack of concern around inflation.
For the week, the DJIA dropped 174.29 points to 34,207.84, the Nasdaq was the single gainer for the week picking up 41.01 points to 13,470.99 and the S&P 500 slipped 17.99 points to 4,155.86.
ETFG Quant Movers - Those ETFs who have had the largest weekly change in their ETFG Quant Total Scores
ETFG Weekly Quant Winners: The three biggest gainers in their ETFG Total Quant Scores were the iShares US Preferred Stock ETF (PFF) which gained 12.80 point to 53.75, the Principal Spectrum Preferred Securities Active ETF (PREF) which picked up 10.31 points to 42.60 and the ProShares Decline of the Retail Store ETF (EMTY) which added 9.40 to an Overall ETFG Quant Score of 52.72.
ETFG Weekly Quant Losers: The three biggest losers in their respective ETF Quant Total Scores were the ALPS Equal Sector Weight ETF (EQL) which lost 10.96 point to 39.44, the iShares Currency Hedged MSCI Japan ETF (HEWJ) which dropped 9.21 point to 32.55 and the iPath S&P MLP ETN (IMLP) which lost 7.85 point to an ETFG Quant Overall Score of 47.72.
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