Weak Further Gains In Tech ETF
Some of the tech-focused
exchange-traded funds managed further upside Monday, although the best percent moves were limited
to inside days with mediocre volume. A number of the tech ETFs didn’t share in
the bounce and headed lower.
The Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) rose
3.7%, the session’s biggest gain among the exchange-traded
funds. The Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) added 3.3%, the Broadband HOLDR
(
BDH |
Quote |
Chart |
News |
PowerRating)
3.3%, the Internet Architecture HOLDR
(
IAH |
Quote |
Chart |
News |
PowerRating) 2.9%, the Dow Jones Technology
iShares
(
IYW |
Quote |
Chart |
News |
PowerRating) 2.3%.
On the downside, the Software HOLDR
(
SWH |
Quote |
Chart |
News |
PowerRating)
fell 10.6%, the B2B Internet HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) 3.9%, the Regional Banking HOLDR
(
RKH |
Quote |
Chart |
News |
PowerRating)
1.8%.
The top field of all charts in this
commentary uses a logarithmic price scale and displays a 50-day price average in
red. In the second field, a
blue relative strength line represents the displayed security’s price
performance relative to the S&P 500. The third field displays vertical daily
volume bars in black with a 50-day moving average in blue for volume.
Exchange-traded
funds combine traits
of stocks and mutual funds. Like mutual funds, an ETF represents diversified
ownership in a number of different stocks, greatly reducing company-specific
risk. Like stocks, ETFs trade on exchanges, nearly all of them in fact trade on
the American Stock Exchange at present. They quote throughout the day, enabling
traders to take advantage of intraday price moves.
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