Out Of Aggressives, Into Defensives
The tradable tech
funds eased Tuesday as their component stocks pulled back in
late afternoon trading. Money flowed into blue-chip and
defensive names, lifting exchange-traded funds that fish in
those waters. The Biotech HOLDR also diverged from the
techs.
Among the
defensives, the Consumer Staples SPDR
(
XLP |
Quote |
Chart |
News |
PowerRating) gained 3.3%
on heavy volume. The Pharmaceutical HOLDR
(
PPH |
Quote |
Chart |
News |
PowerRating) rose
3.8%. The Spider series are index
shares. Their component positions change to stay
in sync with their benchmarks. The Consumer Staples SPDR
tracks the consumer staples stocks within the S&P 500.
The HOLDR series invests in fixed
baskets of stocks. Their composition does not
change, except in the event of a merger, acquisition,
spin-off, or other event that removes all or part of the
underlying company of a component stock.
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As they often do,
biotech stocks marched to a different drummer from their
tech brethren. The Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) added 5.0%, the
day’s biggest gain among the exchange-traded funds. The
biotechs helped to ease the decline in the Nasdaq 100
Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating), popularly known as the Qubes.
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For a more
granular look at the biotech sector, check out today’s
The News column.
The Diamonds
(
DIA |
Quote |
Chart |
News |
PowerRating),
which track the Dow Jones industrial average, rose 1%.
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On the downside,
the Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating), which began trading May
5, sagged 3.3%. The Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating)
lost 4.7%, the day’s sharpest decline among the
exchange-traded funds. The Dow Jones Internet Index iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) fell 3.9%, the B2B Internet HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) 3.6%,
the Dow Jones Technology Index iShares
(
IYW |
Quote |
Chart |
News |
PowerRating) 1.9%, and
the Internet Architecture HOLDR
(
IAH |
Quote |
Chart |
News |
PowerRating) 1.8%.
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