With a 16.9% weight to Apple at the end of June, the Vanguard Information Technology ETF (NYSEArca: VGT) has modestly bucked the Apple ETF outflow trend this month with the addition of $21.1 million in assets, but there is another surprise among Apple-heavy ETFs incurring outflows.
Even with the Nasdaq Composite resting at all-time highs, the PowerShares QQQ (NasdaqGM: QQQ), the Nasdaq-100 (NDQ) tracking ETF, has lost $494.3 million this month. QQQ is close its all-time intraday high of $120.50 last seen in March 2000 and the ETF has surged almost 5.1% this month on the back of big gains for Google (NasdaqGS: GOOG), Amazon (NasdaqGS: AMZN) and Facebook (NasdaqGS: FB).
Apple is QQQ’s largest holding at a weight of 13.9%, nearly double the weight the ETF allocates to Microsoft.
Technology Select Sector SPDR
Tom Lydon’s clients own shares of Apple, Microsoft, Facebook and QQQ.