ETF Explainer: FINX
Fintech is a hot space for investors—see what’s driving it.
Each month, we look at an ETF selected by ETF.com based on its performance and importance to investors. This month, we consider the performance of the $338 million Global X FinTech ETF (FINX), which tracks stocks representing the burgeoning financial technology industry. All the companies mentioned below are holdings in FINX, unless otherwise noted (*).
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MAY 2 Fiserv reports a first quarter earnings miss, and despite the company exceeding earnings expectations, its share price falls.
JUL 31 PayPal’s share price plunges in the days after announcing a third quarter forecast that undercut analyst expectations, despite exceeding second quarter earnings consensus.
OCT 10 Technology stocks have their worst day in seven years; Intuit is among the worst performers, with a decline of roughly 7%.
DEC 31 FINX marks a gain of 0.5% during 2018, outperforming both the SPDR S&P 500 ETF Trust (SPY), which fell 5.4%, and the Financial Select Sector SPDR Fund (XLF), which fell 14%.
Jan 16 Fiserv announces the purchase of First Data Corporation in a $22 billion deal, driving the price of First Data up roughly 20%.
FEB 14 SS&C Technologies beats fourth quarter analyst estimates for earnings by $0.10. Revenue for the quarter also beat consensus expectations.
Source: Bloomberg. Data for 03/29/2018 to 03/29/2019.
