Top 4 ETF Areas of Last Week
Wall Street came up with a mixed performance last week. New U.K. virus restrictions and rising COVID-19 cases globally led to a sombre mood in the Christmas week. The S&P 500 and the Dow Jones lost about 1.2% and 0.01%, respectively, while the tech-heavy Nasdaq added 2% last week. Thanks to major focus on the technology sector (which gets benefited amid the virus-led social distancing), the Nasdaq gained last week.
Against this backdrop, below we highlight a few ETF areas that topped last week and offered investors smart gains.
Cyber Security
Cybersecurity stocks rallied last week as news of a massive cyber-attack, targeting as many as 18,000 U.S. companies and government agencies, came up. FireEye FEYE and Microsoft (MSFT) were among the key companies that reported data breaches using the SolarWinds’ software.
No wonder, the need for cyber security increased. Global X Cybersecurity ETF BUG (up 13.2%), Nasdaq Cybersecurity ETF FT CIBR (up 8.2%) and iShares Cybersecurity and Tech ETF (IHAK) (up 7.6%) were the winners in the space last week (read: Cybersecurity Stocks & ETFs Soar after Massive Hack).
Clean Energy
Biden’s win and increasing global acceptance have been favoring the space.Biden has expansionary plans for clean energy. He is forming a plan — a Clean Energy Revolution — to address the issue of climate emergency. He sees America as becoming a 100% clean energy economy by 2035 and having net zero emission by 2050 (read: 4 Best Sector ETFs of Q4).
In fact, he has a $2-trillion-plan toward combating climate change that will eliminate carbon emissions from the power grid by 2035 and accelerate the uptake of electric vehicles. If this happens, the entire supply chain of the electric vehicle industry will be charged up.
Wilderhill Clean Energy Invesco ETF PBW (up 11.8%), Solar Invesco ETF TAN (up 10.5%) and SPDR Kensho Clean Power ETF (CNRG) (up 9.0%) were among the clean energy ETFs that gained massively last week.
Genomics
Franklin Genomic Advancements ETF HELX gained about 6.1% last week.The area of genomics is excessively tracked for oncology treatment. In short, genomics has been bringing about a great transformation in the healthcare industry.
Cannabis
Cannabis stocks have been on a tear in the ongoing quarter on Biden’s win. His victory could speed up the legalization of marijuana at the federal level, thereby providing a boost to the U.S. cannabis industry. Also, voters in Arizona, Montana, New Jersey and South Dakota voted in favor of the adult use of cannabis, bringing the total number of states that have cleared it for that purpose to 15. Advisorshares Pure Cannabis ETF YOLO and Amplify Seymour Cannabis ETF (CNBS) added 4.6% and 4.2%, respectively, last week.
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FireEye, Inc. (FEYE) : Free Stock Analysis Report
Invesco Solar ETF (TAN): ETF Research Reports
Invesco WilderHill Clean Energy ETF (PBW): ETF Research Reports
First Trust NASDAQ Cybersecurity ETF (CIBR): ETF Research Reports
AdvisorShares Pure Cannabis ETF (YOLO): ETF Research Reports
Franklin Genomic Advancements ETF (HELX): ETF Research Reports
GLBLX CYBRSEC (BUG): ETF Research Reports
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