IBB finished the first quarter 19% below its 200-day moving average but only slightly below its 50-day line. The ETF has not resided above its 200-day line since late in the third quarter of 2015.
Weighing on the health care industry, election year uncertainty has hit the sector, reports Tom DiChristopher for CNBC.
Both Democratic presidential front runner Hillary Clinton and GOP hopeful Donald Trump support the right for the government to negotiate Medicare drug costs. Additionally, Clinton has previously stated she would tackle “price gouging” from drugmakers if she is elected. [Clinton Delivers Poison Pill To Biotech ETFs]
Smead Capital Management CEO Bill Smead told CNBC, though, argues that investors are missing a buying opportunity in the health care sector as the area lags behind the broader equities market.
iShares Nasdaq Biotechnology ETF
