The iPath Pure Beta Cocoa ETN (CHOC - News) rallied 12.5 percent Monday, July 2, leading a group of other commodities-related funds up on a day when the broad stock market closed lower.
Generally, commodities values have been supported by concerns that a hot and dry summer could take a bite out of final supplies, but in the case of cocoa, it was widespread strength in the softs complex that helped underpin the market as sugar and coffee values remained at multiweek highs.
Cocoa futures were in fact slightly lower on the day after a choppy session, but prices still remained above key technical indicators as the market continued to mull concerns that West African crops are off to a slow start, according to a Reuters market report.
The iPath Pure Beta Broad Commodity ETN (BCM - News) tagged on gains of 3.6 percent, while the Teucrium Corn ETF (CORN - News) climbed 3.4 percent on the day. CORN has now shot up more than 24 percent in the past month.
The gains in many commodities-linked funds came as the Dow Jones industrial average gave up 8.7 points to close the day 0.1 percent lower at 12,871.39 on the heels of fresh manufacturing data that pointed to slower U.S. growth than many had expected.
The Institute for Supply Management said Monday that U.S. manufacturing activity shrank in June for the first time in three years, according to MarketWatch reports. The ISM manufacturing index dropped to 49.7 percent from 53.3 percent in May.
On the flip side, some of the worst-performing ETFs Monday were linked to the energy sector as oil prices pared back some of Friday’s sharp gains.
NYMEX crude oil futures for August delivery dropped $1.21, or 1.4 percent, to close at $83.75 a barrel, again pressured by concerns over economic growth both here and in China.
The Market Vectors Gulf States ETF (MES - News) bled 3.2 percent, while the PowerShares DB Crude Oil Long ETN (OLO - News) slid 1.65 percent on the day.
Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
| CHOC | iPath Pure Beta Cocoa ETN | 12.50% | 3,543 | 3.14 |
| TCHI | RBS China Trendpilot ETN | 6.09% | 2,590 | 3.79 |
| SMIN | iShares MSCI India Small Cap | 5.63% | 4,600 | 4.46 |
| PXSC | PowerShares Fundamental Pure Small Core | 4.26% | 1,357 | 12.91 |
| XBI | SPDR S'P Biotech | 4.00% | 656,538 | 667.29 |
| BCM | iPath Pure Beta Broad Commodity ETN | 3.66% | 51,581 | 20.00 |
| EGPT | Market Vectors Egypt | 3.42% | 56,914 | 42.54 |
| CORN | Teucrium Corn | 3.40% | 188,169 | 66.36 |
| DJCI | ETRACS DJ-Commodity Total Return ETN | 3.39% | 1,175 | 68.31 |
| AXUT | iShares MSCI ACWI ex-US Utilities | 3.32% | 2,998 | 6.17 |
Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
| VXAA | ETRACS 1-Month S'P 500 VIX Futures ETN | -10.93% | 1,100 | 3.60 |
| CVOL | C-Tracks Exchange-Traded Notes on the Citi Volatility | -8.63% | 38,379 | 6.75 |
| VXX | iPath S'P 500 VIX Short-Term Futures ETN | -6.53% | 52,236,913 | 1,558.86 |
| VIXY | ProShares VIX Short-Term | -6.50% | 582,280 | 128.44 |
| VIIX | VelocityShares VIX Short Term ETN | -6.43% | 959,362 | 63.78 |
| MES | Market Vectors Gulf States | -3.23% | 2,140 | 11.06 |
| VIXM | ProShares VIX Mid-term | -2.47% | 12,738 | 83.55 |
| VXZ | iPath S'P 500 VIX Mid-Term Futures ETN | -2.17% | 591,391 | 245.95 |
| LSC | ELEMENTS S'P Commodity Trends Indicator - Total Return ETN | -1.81% | 48,016 | 29.20 |
| OLO | PowerShares DB Crude Oil Long ETN | -1.65% | 3,981 | 10.56 |
Disclaimer:All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.
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