Exchange traded funds (ETFs) that invest in semiconductor stocks managed to hold about even for the session Wednesday despite the shellacking in bellwether Broadcom (NasdaqGM: BRCM).
Investors were not satisfied with Broadcom’s second-quarter revenue outlook and sent the shares lower by more than 11% in afternoon trading.
Still, ETFs tracking the semiconductor sector were around the flat line at last check. They include Semiconductor HOLDRS (AMEX: SMH), PowerShares Dynamic Semiconductors Portfolio (NYSEArca: PSI), SPDR S&P Semiconductor ETF (NYSEArca: XSD) and iShares PHLX SOX Semiconductor Sector Index Fund (NasdaqGM: SOXX).
The iShares PHLX SOX Semiconductor was up 9.5% year to date through April 26.
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