Shares of General Electric (NYSE: GE) weighed on industrial-sector exchange traded funds (ETFs) on Thursday even though the company’s earnings beat expectations and the firm again boosted its dividend.
GE shares were down more than 2% in afternoon trading Thursday following the quarterly results as some analysts voiced concerns over profit margins.
GE is the largest holding in Industrial Select Sector SPDR Fund (NYSEArca: XLI), which was up fractionally Thursday. The stock accounts for 11.2% of the ETF, which holds $3.7 billion in assets.
Other industrial-sector ETFs include Vanguard Industrials ETF (NYSEArca: VIS) and iShares Dow Jones U.S. Industrial Sector (NYSEArca: IYJ).
Dow component GE is also in the SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA), although it only accounts for 1.2% of the fund.
Industrial Select Sector SPDR Fund
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