On the other hand, the ProShares Ultrashort Nasdaq Biotechnology (NasdaqGM: BIS) has pulled in $25.6 million in the second quarter, impressive when considering the ETF had just $43.3 million in assets at the end of the first quarter. [Bearish Biotech ETF Suddenly Hot]
“In my humble opinion, how IBB handles this first kiss could tell us a ton about this hot sectors direction in the near term, which can from time to time influence the broad markets,” added Kimble.
iShares Nasdaq Biotechnology ETF
Chart Courtesy: Kimble Charting Solutions