Gun Stocks Far Outpace Broad Market's Gain
It was reported today that U.S. stocks hit a fresh five-year high with the Dow Jones Industrial Average closing at 14,035.67.
While the broad market index has increased 4.6 percent since the beginning of the year, gun stocks are far-outpacing market increases as sales for firearms and ammunition continue to soar.
On January 2, 2013 (the first trading day of the year), the share price of gun manufacturer, Sturm, Ruger & Co. Inc. (TICKER:RGR) closed at $45.88.
At the closing bell today, RGR ended at $54.06; an increase of 17.8 percent year-to-date.
Smith and Wesson Holding Company (TICKER: SWHC) closed at $8.54 per share on the first day of trading this year.
Today, the price of SWHC closed at $9.40; an increase of 10.0 percent year-to-date.
Outdoor retailer Cabelas, which sells firearms and ammunition, closed at $42.84 per share on January 2, 2013. Today, the stock (TICKER: CAB) ended at $49.81 per share; a 16.2 percent increase.
The Dow Jones Industrial Average (TICKER: DJI), which measures how the 30 largest publicly owned U.S. companies are trading, closed at 13,412.55 on January 2, 2013.
At the close today, the Dow ended at 14,035.67. This represents a 4.6 percent increase since the beginning of the year.
The S&P 500, a broader market index that tracks the share prices of 500 publicly traded companies, has increase 4.7 percent since the beginning of the year. On January 2, 2013, the S&P (TICKER: GSPC) closed at 1,462.42. Today, the index closed at 1,530.94.