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Drug Stock Index Reaches New High Amid Trade Truce Skepticism: (MTUM)

TedTed
in The Bullpen
FYI: (This is a follow-up article.)

The S&P 500 Pharmaceuticals Index rose as much as 1 percent to a record high, skirting a broad market sell-off as investors continued to shift into the high-momentum sector amid skepticism about the trade truce between the U.S. and China.

Merck and Pfizer, which have been added to the closely watched $9.4b iShares Edge MSCI USA Momentum ETF in its latest rebalance, are among today’s top performers.

Mutual funds and hedge funds have also increased their exposure to health care into the fourth quarter, according to data from Goldman Sachs, with pharma accounting for the largest increase in allocations from mutual funds
Regards,
Ted
https://www.bloomberg.com/news/articles/2018-12-04/red-hot-drug-stocks-reach-new-highs-amid-trade-truce-skepticism

M* Snapshot MTUM:
https://www.morningstar.com/etfs/bats/mtum/quote.html
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