ETF Trends
ETF Trends

Cigna Group (NYSE: CI) agreed to acquire Express Scripts Holdings (NasdaqGS: ESRX), but healthcare sector-specific exchange traded funds remain relatively muted.

For instance, the iShares U.S. Healthcare Providers ETF (NYSEArca: IHF), which includes 5.7% CI and 5.6% ESRX, was down 0.6% Thursday while the SPDR S&P Health Care Services ETF (NYSEArca: XHS), which includes 2.5% CI and 2.4% ESRX, was 0.1% lower.

IHF provides exposure to U.S. companies engaged in health insurance, diagnostics and specialized treatment. XHS covers companies in the sub-industries involved in Health Care Distributors, Health Care Facilities, Health Care Services, and Managed Health Care, and it follows a more equally weighted indexing methodology.

Meanwhile, the Health Care Select Sector SPDR (NYSEArca: XLV), the largest healthcare exchange traded fund, gained 0.3% Thursday.

Cigna agreed to purchase Express Scripts for around $54 billion, representing a roughly 31% premium to Express Scripts’ closing price on Wednesday, Bloomberg reports.

CI shares plunged 11.3% on the deal while ESRX shares jumped 8.6%.

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