In afternoon trading Friday, the SPDR KBW Mortgage Finance ETF (AMEX:KME) is outperforming other ETFs, up about 8.2% on the day. Components of that ETF showing particular strength include shares of MGIC Investment Corporation (NYSE:MTG), up about 7.8% after Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation, today announced positive monthly operating statistics. And shares of Radian Group (NYSE:RDN) were up about 5.8% on the day. Radian is scheduled to present at the Keefe, Bruyette & Woods Insurance Conference in New York on Tuesday.
And underperforming other ETFs today is the Gold Miners ETF (AMEX:GDX), off about 0.4% in Friday afternoon trading. Among components of that ETF with the weakest showing on Friday were shares of Eldorado Gold (NYSE:EGO), lower by about 3.4% after the company offered $3.2 billion to acquire Australia's Andean Resources. And shares of Goldcorp (NYSE:GG) were lower by about 2.7% on the day; following Eldorado's announcement, Goldcorp trumped the offer for Andean Resources, with a $3.4 billion dollar offer. The price of gold was down on Friday, with the SPDR Gold Trust ETF (AMEX:GLD) off about a quarter of one percent.
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