Friday, 19 May 2017

A Sumptuous Semiconductor ETF

A small number of US-listed exchange traded funds hit record highs last week, but underscoring the strength in the technology sector, 10 of ETFs hitting all-time highs were tech funds. And proving that semiconductor stocks are playing an important part in technology's 2017 surge, three of the tech ETFs that hit record highs were chip funds.

One of those chip ETFs that just joined the record-high club tracks the PHLX SOX Semiconductor Sector Index, one of the most widely followed gauges of chip stocks. That proved to be good news for the Direxion Daily Semiconductor Bull 3X Shares 

SOXL, which attempts to deliver triple the daily performance of the PHLX SOX Semiconductor Sector Index, also hit an all-time high. The PHLX SOX Semiconductor Sector Index holds just 30 stocks and its lineup is dominated by the likes of Nvidia Corp. 

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