The $61.2 million BJK is getting help from some familiar sources. Shares of Las Vegas Sands (NYSE: LVS), the ETF’s second-largest holding, and Wynn Resorts (NasdaqGS: WYNN) are up 5.1% since June 10. Shares of MGM Resorts International (NYSE: MGM) are higher by 9% over that time. [Gambling ETF Looks to Rebound]
Las Vegas Sands “showed signs of running out of downside momentum as the MACD Indicator started turning up before price. Bullish action here, too,” notes Captain John Charts. MGM is also showing signs of a breakout relative to the S&P.
Las Vegas Sands, Wynn and MGM combine for 19.3% of BJK’s weight, according to Market Vectors data.
Market Vectors Gaming ETF