S&P Likes A Trio of Biotech ETFs

October 25, 2012

 

The biotechnology sector has had a solid run so far this year, and thanks to increased FDA approvals, biotech companies—as well as a roster of biotech ETFs—could be poised for more upside in the next 12 months, a new research note by S&P Capital IQ suggested, according to an article on Benzinga.

In particular, S&P highlighted three ETFs: the iShares Nasdaq Biotechnology Index Fund (NasdaqGM: IBB), the SPDR S&P Biotech ETF (NYSEArca: XBI) and the PowerShares Dynamic Pharmaceuticals Portfolio (NYSEArca: PJP).

Indeed, mergers and acquisitions of pharmaceutical companies along with FDA approvals created conditions that allowed biotech ETFs like IBB, the largest biotech ETF, to gain 30.8 percent year-to-date, according to Benzinga.

For the full story, go to Benzinga.com.

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