A smartphone exchange traded fund (ETF) was flat in midday trading Friday despite big moves in holdings Research in Motion (NasdaqGS: RIMM) and Motorola Mobility (NYSE: MMI).

RIM shares were down nearly 14% after the company lowered its profit forecast for the current quarter that ends in late May on weakness in BlackBerry sales. [Research in Motion, Microsoft Weigh on Nasdaq ETF.]

Separately, Motorola Mobility shares rallied 9% following quarterly results as the company said Android smartphone sales rose. [Motorola Mobility Leads Stocks in Mixed Tech ETFs.]

The global market for mobile phones jumped 20% in the first quarter from the year-ago period, according to estimates by IDC, driven by growth in high-end smartphones, Dow Jones Newswires reported Friday.

First Trust NASDAQ CEA Smartphone Index Fund (NasdaqGM: FONE) was little changed in recent trading Friday. Its largest holding is HTC Corp. The smartphone maker sees record sales again in the second quarter, Reuters reported. Apple (NasdaqGS: AAPL), maker of the iPhone, is another large holding.

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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