Banking Sector ETFs Fail To Move Ahead Despite Dividend Increases And Share Buybacks
- Created: Wednesday, 06 April 2011 07:00
John Spence of ETF Trends posts recent results from major financial ETFs while noting the failure of positive sector news to move these funds above the moving averages.
Financials have lagged the broader market for months, primarily due to concerns over credit quality (many banks still have toxic assets on their books left over from the economic crisis), uncertainty over regulatory reforms, and uncertainty over the direction of U.S. monetary policy.
It seems natural to think that positive news on dividends might have some effect, but it hasn't helped the sector, at least not yet.