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Semiconductor ETF Gets A Makeover

Michael Johnston — Thu, 30 Sep 2010 11:00:04 +0000

Competition in the semiconductor ETF space has always been fierce, with no fewer than four products (SMH, IGW, XSD, PSI) from four different issuers (Merrill Lynch, iShares, State Street, PowerShares) all targeting a relatively narrow slice of the tech sector. Perhaps aiming to capture a greater portion of this market, iShares recently announced plans to tweak its S&P North American Technology-Semiconductors Index Fund (IGW). The company plans to change the ticker and underlying index of the largest semiconductor ETF (excluding Merrill’s HOLDRS product), which will be listed on the NASDAQ Exchange effective October 15. The index underlying the fund will change from the S&P North American Technology-Semiconductors Index to the PHLX Semiconductor Sector Index, a modified cap-weighted benchmark consisting of about 30 semiconductor stocks. The ticker will change from IGW to SOXX. The new index is linked to two leveraged products from Direxion: the Daily Semiconductor Bull 3x Shares (SOXL) [...]

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Semiconductor ETFs In Focus As Intel Slashes Outlook

Jared Cummans — Sun, 05 Sep 2010 15:47:45 +0000

In a period of economic instability, like we have seen for the majority of this year, consumer spending is usually low. The low buying power that consumers hold during uncertain times wreaks havoc on a slew of companies whose profit relies the consumer’s willingness to buy. So it came as a bit of a surprise last quarter when Intel reported stellar earnings, sending semiconductor funds soaring. Amid what appeared to be low spending habits, Intel generated a healthy profit. It seemed that the tech industry was on the road to recovery, but that may have just been the eye of the storm, as new information from Intel points to a foggy future for the semiconductor industry [see also ETFs To Play A U.S. Export Boom]. Intel recently cut its third quarter revenue projection, fearing that the rebound in spending on technology may be sputtering out. In July the company predicted [...]

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Semiconductor ETFs In Focus As Chip Sales Skyrocket

Jared Cummans — Wed, 07 Jul 2010 09:00:19 +0000

The Semiconductor Industry Association recently reported a major increase in the sales of computer processing chips for the month of May, giving investors reason to optimistic on a sector that has been battered by recent market turmoil. Chip sales rose 4.5% from the previous month, and were up nearly 50% from the same month in 2009. “Many industry analysts have given bullish outlooks on the information-technology sector in recent months as demand has come back from year-earlier levels,” writes Nathan Beck. The surge in sales is primarily attributed to the world’s emerging markets, where sales for computation and communication devices have been steadily growing. Along with the major help from countries overseas, the recent wave of popularity in tablet computers (most notably the Apple iPad) and smartphones have also helped put the chip industry back on track. While overseas demand has increased, the chip industry has yet to fully regain [...]

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Semiconductor ETFs Soar On Intel’s Bullish Outlook

Michael Johnston — Wed, 14 Apr 2010 14:44:15 +0000

With investors looking for confirmation that improved economic indicators are translating to healthier bottom lines for domestic and global companies, another highly anticipated and critical earnings season kicked off this week. Things got off to a rocky start when aluminum giant Alcoa posted disappointing sales and earnings figures. That shortfall increased investor anxiety as chip bellweather Intel stepped up to unveil its first quarter numbers after the close on Tuesday. But the chip company shattered analyst expectations, reporting net income of 42 cents a share and revenue of $10.3 billion. Wall Street was expecting earnings of 38 cents a share on revenue of just $9.8 billion. More importantly, however, Intel raised its outlook for the second quarter and full year 2010. Revenue is projected at $10.2 billion while gross margins are expected to be about 64%, or 3% higher than previously expected. CEO Paul Otellini didn’t leave any doubt on [...]

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Direxion Launches Six New Leveraged ETFs

Michael Johnston — Thu, 11 Mar 2010 16:30:37 +0000

Direxion, a pioneer in the 3x leveraged ETF space, announced Thursday the launch of six new funds, bringing the firm’s total product offerings to 34, and represent firsts for both the company and the ETF industry. The leveraged ETFs beginning trading on Thursday include: Ticker ETF Index Leverage BRIL Daily BRIC Bull 2x Shares BNY Mellon BRIC Select ADR Index 200% INDL Daily India Bull 2x Shares Indus India Index 200% SOXL Daily Semiconductor Bull 3x Shares PHLX Semiconductor Sector Index 300% BRIS Daily BRIC Bear 2x Shares BNY Mellon BRIC Select ADR Index -200% INDZ Daily India Bear 2x Shares Indus Index -200% SOXS Daily Semiconductor Bear 3x Shares PHLX Semiconductor Sector Index -300% Each of the new products is an industry first of some sort. Both ProShares and Direxion offer leveraged products linked to the MSCI Emerging Markets Index, but BRIL and BRIS are the first leveraged ETFs [...]

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Semiconductor ETFs: Back On Track

Michael Johnston — Tue, 05 Jan 2010 14:36:53 +0000

As recession gripped the global economy in 2008, nearly all sectors and regions took a hit. But as is usually the case, not all areas were impacted equally, as certain corners of the market delivered much worse results than others. Now, those industries that were hit the hardest on the way down have become the biggest gainers during the subsequent recovery, further proving the wisdom of the Buffett mantra “be fearful when others are greedy and greedy when others are fearful.” Semiconductor companies took it on the chin on the way down, as consumers slashed discretionary spending and businesses began aggressively delaying any expenses that could be pushed off until the economic clouds cleared. But it now appears that the industry has emerged from the downturn, perhaps poised to surge in 2010. The Semiconductor Industry Association reported that global sales rose 3.7% in November, marking the ninth consecutive monthly uptick [...]

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Top Ten Equity ETFs Of 2009

Michael Johnston — Mon, 21 Dec 2009 13:33:26 +0000

After watching their portfolios take devastating blows in 2008, many investors hoped that a new year would bring a reversal of fortune and a recovery of lost assets. After the first two months of the year tested resolve, things finally took a turn for the better in March, and long climb upwards began. Most equity ETFs experienced solid gains in 2009, adding more than 20% on the year. But as always, some fared better than others, with several funds outpacing broad-based benchmarks by a considerable margin. And then there are the handful of ETFs highlighted below that delivered enormous gains. These funds have each gained at least 85% this year, putting them in the top two percent of all equity ETFs in our ETF Screener. It should be noted that only funds operating for all of 2009 have been included in this list (although we did bend this rule a [...]

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Top Ten Performing Leveraged ETFs Of 2009

Michael Johnston — Fri, 18 Dec 2009 16:56:06 +0000

Leveraged ETFs were in the headlines a great deal in 2009, but most of the coverage was less than favorable. Misinformation on these products was widespread throughout the year, leading to confusion on many aspects of these products and some unfair generalizations. One of the primary points of discussion was the performance of leveraged ETFs when held by investors for extended periods of times. Because these funds focus on delivering amplified returns on a daily basis, returns over time are compounded, meaning that the effective return over multiple sessions depends not only on the change in the underlying benchmark, but in the path of the index during that period. In trending markets, the return to leveraged ETFs will generally be greater than the simple target multiple times the return on the underlying index. But in seesawing markets — one where gains are frequently followed by losses and vice versa — [...]

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Definitive Guide To Semiconductor ETFs: Semiconductor ETFs 101

Michael Johnston — Thu, 19 Nov 2009 21:42:37 +0000

For investors looking to make a play on the technology sector through ETFs, there are a number of options offering varying degrees of exposure. The PowerShares QQQ Trust (QQQQ) tracks the Nasdaq 100 Index, meaning it is tilted heavily towards the technology sector (about 65% of its holdings), but maintains moderate exposure to health care and consumer discretionary companies as well. For investors looking to make a pure play on technology, there are several broad-based technology funds, such as XLK and IYW, that invest in various technology-related companies. But there are also technology ETFs offering far more specialization, including funds focusing on software (IGV and PSJ), internet architecture (IAH), nanotechnology (PXN), and several other. One of the most popular corners of the technology sector focuses on semiconductors, a key component of almost every modern electronics product. Named because their electrical conductivity is between that of a conductor and an insulator, [...]

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Earnings Fears Weigh On Tech ETFs

Michael Johnston — Thu, 19 Nov 2009 15:45:55 +0000

Technology ETFs have hit a wall in recent days, slumping on news of an analyst downgrade to Research in Motion, slashes in projected semiconductor demand, and weak earnings reports from several internet companies. With an uncertain holiday shopping season ahead, the fate of the technology sector is very much up in the air, and technology ETFs could be on the move in coming weeks. BMO Capital Markets cut their rating on Blackberry maker Research in Motion on Wednesday, pointing to increased competition from Verizon as consumers opt for less expensive smartphones. Also weighing on the tech sector were weak results from Salesforce.com and Autodesk, which lost about 3% and 10%, respectively, during yesterday’s session. On Thursday, BofA Merrill Lynch lowered its 2010 growth forecast for global semiconductor industry and downgraded ten chipmakers, including Intel Corp. “While we believe the correction will likely prove short and shallow, we think any hint [...]

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ETF Database » PSI

Semiconductor ETF Gets A Makeover

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