Airline ETF suffers as oil increases

Victoria
By Victoria February 23, 2012 15:42

Airline ETF suffers as oil increases

The Guggenheim Airline ETF (FAA) was pushed to a nearly 6.2% loss on the day yesterday. The product was led lower by its heavy holdings in Delta which comprises 17.2% of the fund, United Continental at 16.6% and Southwest Airlines at 14.2%. Delta fell by 7.5% while United fell by 9.0% and Southwest was down 3.5%. Given this significant weighting to a select band of airlines investors should not be surprised by heavy fluctuations from time to time. The FAA ETF is still 13% up in 2012 but only a few days ago it was up by over 27%.

Victoria
By Victoria February 23, 2012 15:42
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