Internet ETFs also have low allocations to Twitter. The First Trust Dow Jones Internet Index Fund (NYSEArca: FDN) devotes just 1.45% to Twitter, or less than 16% the weight the ETF gives to Facebook (NYSE: FB), its largest holding.
As of Monday, the PowerShares NASDAQ Internet Portfolio (NasdaqGS: PNQI) did not own Twitter, according to issuer data.
So assuming Twitter builds on or at least keeps most of yesterday’s after-hours gains, IPO should enjoy a day in the sun today. Another big day(s) for IPO is not far off as the ETF is likely to be the first to add Alibaba when the company goes public, which is expected to happen after Labor Day. [Alibaba Faces Limited ETF Options]
Renaissance IPO ETF
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Facebook.