By Gary Gordon of etfexpert.com
For the better part of the last 12 months, health care stocks have been significant underachievers. Credit the uncertainty surrounding health care legislation.
Yet, at least for one day, the cloud of uncertainty lifted. Something passed. Will it be meaningful, costly, desirable, well-received, repealed? Others can debate the fallout. For the time being, something passed.
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So did removing the shroud of uncertainty help or hurt popular health care ETFs? Across the board, they outhustled the
Beyond the headline gains, there was a fair amount of buying interest, and volume was larger than normal. Whereas buying interest on stocks as an asset class was average, volume on several major health care ETFs was particularly high.
Vanguard Health Care
experienced twice its normal volume, while
iShares DJ Healthcare
had four times its normal volume.
There may have been at least one fly in the ointment, however. Health care ETFs like
Select SPDR Health Care
peaked early in the day and then drifted lower through the remainder of the trading session. No big deal -- I just thought skeptics would want me to point this out.
Disclosure Statement: ETF Expert is a web log ("blog") that makes the world of ETFs easier to understand. Gary Gordon, MS, CFP is the president of Pacific Park Financial, Inc., a Registered Investment Adviser with the SEC. The company and/or its clients may hold positions in the ETFs, mutual funds and/or index funds mentioned above. The company does not receive compensation from any of the fund providers covered in this feature. Moreover, the commentary does not constitute individualized investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities. Investors who are interested in money management services may visit the Pacific Park Financial, Inc. Web site.