The Affordable Care Act, also known as Obamacare, was seen as a positive catalyst for some health insurance providers and the iShares U.S. Healthcare Providers ETF (NYSEArca: IHF).

That proved to be the case for much of this year as IHF sits with a  year-to-date gain of 28.7%, but investors have been taking profits in IHF and some of the ETF’s constituents as controversy surrounding Obamacare has swirled in recent weeks.  [This Obamacare ETF Looks Promising]

News of Americans losing health coverage, being forced to pay for coverage when the aim of Obamacare was to lower costs and the fiasco pertaining to government enrollment web sites have had a hand in pressuring shares of IHF and its constituents.

Home to 49 stocks and $377.3 million in assets under management, IHF has lost almost 3% since Oct. 17. Making matters worse is looming technical weakness in some of the ETF’s major holdings.

Dow component UnitedHealth (NYSE: UNH) “was near all-time highs on Oct. 16, but after earnings were announced the next day it ‘gapped’ down for a 5.1% loss and a breakdown below its rising 2013 trendline. It got worse the next day with an additional 3.7% loss and a breakdown below a three-month trading range,” reports Michael Kahn for Barron’s.

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