exchange-traded fund was one of the best performers of Thursday's session, aided by a broker upgrade of one of its main holdings.
Earlier, Lehman Brothers raised its rating for
to overweight from equal-weight, citing improvements in the company's phone unit. Shares of Motorola were adding 2.7%
The Broadband HOLDRs was higher by 22 cents, or 1.5%, at $14.90.
Other tech-related ETFs were also trading higher, benefiting not only from Motorola's gain but increases in
, all of which helped the
overcome early weakness.
First Trust Nasdaq 100 Tech Index
was up 45 cents, or 2.1%, to $22.06. The
Ultra Semiconductor ProShares
ETF was gaining $1.37, or 1.7%, to $84.51. The
Ultra Technology ProShares
ETF rose $1.10, or 1.4%, to $79.
On the other hand, financial and bank-related bundled securities continued to weaken. Related stocks were under pressure on fears that
Chairman Ben Bernanke will offer no solace to liquidity issues when he delivers a speech on monetary policy on Friday.
Ultra Financials ProShares
ETF was losing 91 cents, or 1.7%, to $53.82. The
iShares S&P Global Financials
ETF was down $1.40, or 1.6%, to $85.02. The
iShares Dow Jones U.S. Regional Banks
ETF was off 68 cents, or 1.5%, to $45.88.
Bundled securities following retailers were also weaker due to a downgrade and earnings news out of the sector.
said after the last close that both net income and sales fell during the second quarter. Results beat the Thomson First Call estimate on a per-share basis, but revenue was lower than expected.
Meanwhile, Merrill Lynch downgraded the world's largest retailer
to sell from neutral, citing shrinking margins.
SPDR S&P Retail
ETF was lower by 49 cents, or 1.2%, to $39.19. The
PowerShares Dynamic Retail
ETF was sliding by 14 cents, or 0.8%, to $18.19. The
ETF was off 56 cents, or 0.6%, to $99.99.