Vanguard Telecom Services ETF (VOX) is rising 1.3% on Friday forenoon trading. The fund has a 20% exposure to AT&T and an 18% holding in Verizon.
Telecom HOLDRS (TTH) is also up 1.3%, although it has an even more concentrated exposure to the telecom service providers. Together the two stocks account for 83% of the fund's portfolio.
Shares of AT&T and Verizon were up 0.8% and 4.1% respectively on Friday morning trading.Health care and pharmaceutical ETFs were heading lower on Friday morning. PowerShares Dynamic Pharmaceutical Sector (PJP) was lower by 0.5%. Its top holdings include Johnson & Johnson (JNJ - Get Report), Merck (MRK - Get Report) and Abbott Laboratories (ABT - Get Report). -- Reported by Shanthi Venkataraman in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.