|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||97.37 - 98.69|
|52 Week Range||78.91 - 101.22|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
On Tuesday, the Senate approved a wide-ranging, $854 billion bill that includes a $675 billion allocation towards the Defense Department, accounting for almost 80% of the total bill. In short, the United States doesn't skimp on defense spending and this is good news for exchange-traded funds (ETFs) like Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN), which has been producing rapid-fire returns. The measure now rests in the hands of the House, where lawmakers are expected to approve it next week--just days before a Sept. 30 deadline in order to avert a government shutdown.
The broad industrial sector is not impressing this year, but aerospace and defense stocks and exchange traded funds did not get that memo. The iShares U.S. Aerospace & Defense ETF (Cboe:ITA) , the largest aerospace and defense ETF, is up nearly 16% year-to-date. Impressive statistics for aerospace ETFs do not end there.
Aerospace and defense-related ETFs have been breaking into new all time highs, and the sector theme may continue to have legs. The aerospace and defense sector-related ETFs touched all-time highs early Wednesday but slightly pulled back later in the day. Schlossberg singled out Raytheon (RTN) as a strong play in the sector due to the broader defense trend.
DEEP DIVE Stock prices tend to be driven by increases in earnings. The federal income tax cuts that went into effect this year will no doubt boost profits and potentially share prices. But that party will surely end, after which it is reasonable to expect the aerospace and defense subsector to continue to outperform the broader market.
July has been kind to the U.S. stock market even amid escalating trade tensions and rounds of tech sell-off. Dow Jones recorded the largest monthly gain of 4.7% since January while the S&P 500 and the Nasdaq Composite Index logged in the fourth consecutive monthly gains of 3.6% and 2.2%, respectively.
Aerospace and defense ETFs, including the iShares U.S. Aerospace & Defense ETF (Cboe:ITA) , were among the best industry level performers last year, but amid fears of trade wars, the group is enduring challenges this year. Boeing was one of the primary drivers of the aersospace industry’s out-performance from the time President Trump won the 2016 presidential election. Aerospace and defense stocks are part of the broader industrial sector and have been important drivers of the sector’s performance over the past year.
On its surface, the meeting with U.S. President Donald Trump and North Korean leader Kim Jong-un may have proven to be a success in terms of establishing a peace agreement and denuclearization, but aerospace and defense ETFs got nuked in the process on Tuesday. Before the close of the market, aerospace and defense ETFs were having their worst day since May 31.
It’s artificial intelligence up, but guns down for Google as the Mountain View, California-based search engine giant shot down any notion that its latest technology would be used as weaponry. This assertion ...
Uncertainty over U.S./North Korean relations continues to support defense stocks. These three ETFs provide exposure to increased defense spending.
Defense ETFs have been gaining strength in recent times thanks to a host of factors and made themselves a must-watch this Memorial Day.
Aerospace and defense exchange traded funds, including the iShares U.S. Aerospace & Defense ETF (Cboe:ITA) , were among the best industry level performers last year, but amid fears of trade wars, the group has slumped in 2018. Aerospace and defense stocks are part of the broader industrial sector and have been important drivers of the sector’s performance over the past year. Rivals to ITA, the largest ETF in this market segment, include the PowerShares Aerospace & Defense Portfolio (PPA) and the SPDR S&P Aerospace & Defense ETF (XAR).
Aerospace and defense ETFs, including the iShares U.S. Aerospace & Defense ETF (BATS: ITA), are being hampered by increasing trade tensions between the U.S. and China with Boeing Co. (NYSE: BA), a major ...