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For One Day, Coal ETF is a Diamond

The once high-flying Market Vectors Coal ETF (NYSE:KOL) is, for what feels like the first time in ages, enjoying a solid performance in Wednesday trade. Sparked by speculation of insider buying in Walter Energy (NYSE:WLT), coal stocks are popping and that is helping KOL to a gain of nearly two percent.Not to rain on anyone's parade, but KOL was down 27.3 percent in the past year at the start of trading and while Walter is up more than 14 percent on better than double the average daily volume, the stock's impact on KOL is limited at best. Walter, the Alabama-based maker of metallurgical coal, is merely KOL's 22nd-largest holding out of 34 stocks. KOL allocates just 1.99 percent of its weight to Walter.Still, the rally in Walter has Peabody Energy (NYSE:BTU), the largest U.S. coal producer, and rival Consol Energy (NYSE:CNX) both up more than two percent. Consol is KOL's largest holding and Peabody is the ETF's fifth-largest holding. The pair combine for almost 16.2 percent of the ETF's ...

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