Airline ETF gains ground

The US dollar came under renewed pressure yesterday as the ISM Non-manufacturing survey finished below the bottom of the consensus range at 53.5. As a result ETF trading levels were high with the Guggenheim Airline ETF (FAA) seeing a great deal of interest. The ETF usually trades around 8,500 shares in a normal session although volume reached over 22,000 yesterday. The Guggenheim ETF focuses on three airlines; Delta, United Continental, and Southwest, although 23 other firms sit in the fund. While the three listed above weren’t volatile, a top six component, Spirit Airlines, was a big mover, losing 5% on