Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Three Tech ETFs Rocked by Google's Earnings Miss


Roughly 125 ETFs have Google as a component, accounting for nearly 4% of the stock's total outstanding shares.

Given this, we have highlighted three of the biggest holders of Google stock in ETF form and how they have held up in light of the search giant's terrible earnings report and uncertain outlook for the near term. These funds could either be tech products to stay away from for those who believe Google's troubles are just beginning, or products to cycle into for those who are cautiously optimistic over Google's longer-term health:

iShares Dow Jones US Technology ETF (NYSEARCA:IYW)
This ETF tracks the Dow Jones US Technology Index (INDEXDJX:DJUSTC) holding roughly 145 stocks in its basket. Of those firms, Google takes the fourth spot, making up roughly 8% of assets.

Following the announcement, the fund finished the day down about 1.8% on volume that was roughly two times normal. Still, the ETF is up over 12% year-to-date, although it has fallen by over 7% in the trailing one month period.

PowerShares NASDAQ Internet Portfolio (NASDAQ:PNQI)
This fund follows the NASDAQ Internet Index (INDEXNASDAQ:QNET), a benchmark of firms that trade on the Nasdaq and are in the broad internet industry. Unsurprisingly, Google takes the top spot in this fund, accounting for roughly 8.5% of assets.

Given this, some investors may be surprised to read that the fund lost just 1.5% on the day and that volume in the fund was just barely above historical averages. Over the past month, this fund has done much better than IYW, falling by just 2.5%, while it has also outperformed on a year-to-date basis, adding over 15% in the period.

First Trust Dow Jones Internet Index (FDN)
Another big tech ETF is FDN which tracks internet firms based on the Dow Jones Internet Index (INDEXDJX:DJINET), a benchmark that holds about 40 securities in total. Much like its PowerShares counterpart, Google gets the top spot although in this fund that means a 10.8% allocation, by far the most in the ETF world.

In terms of performance, FDN slumped by roughly 1.6% on the day on volume that was roughly double the historical average. Longer term, it is in line with the others on the list, adding 12.6% in the year-to-date time frame, while it has lost about 3.6% in the trailing one month period.

Editor's Note: For more from, click here.
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Featured Videos