Kahn also highlighted technical weakness in shares of Aetna (NYSE: AET) and Cigna (NYSE: CI). UnitedHealth, Aetna and Cigna are three of IHF’s five largest holdings and combine for almost 26% of the ETF’s weight.
Weakness in those names and a few others has IHF trading slightly below its 20- and 5-day moving averages. If the ETF fails to hold support just below $87, it could fall back to its 200-day line, implying possible downside of 6.5% from current levels.
iShares U.S. Healthcare Providers ETF
ETF Trends editorial team contributed to this post.