Over the past month, HACK is up 7%, outpacing the Nasdaq Composite, the home index for many of HACK’s holdings, by 210 basis points.
One of those holdings, Dow component Cisco Systems (NasdaqGS: CSCO), has recently been a key contributor to HACK’s upside. After the close of U.S. markets Wednesday, Cisco reported its best results in three years and now trades at its highest levels in over seven years. The stock, which accounts for over 4% of HACK’s weight, currently trades just over $29, but several analysts are forecasting a move into the mid-$30s.
Cisco also said it is raising its quarterly dividend 11% to 21 cents a share from 19 cents. The company’s payout has more than tripled over the past three years.
HACK vs. Nasdaq Composite (One-Month Chart)
