Even as the Democrats retook control of the House of Representatives and the Republicans maintained majority in the Senate, healthcare ETFs were also big winners following the 2018 Midterm Election results.
The Health Care Select Sector SPDR ETF (NYSEArca: XLV) gained 2.49%, the Vanguard Health Care ETF (NYSEArca: VHT) went up 2.42%, the iShares US Medical Devices ETF (NYSEArca: IHI) rose 1.91%, and iShares US Healthcare ETF (NYSEArca: IYH) gained 2.32% as of 11:30 a.m. ET. As such, the Direxion Daily Healthcare Bull 3X ETF (NYSEArca: CURE) gained 7.53% on the additional leverage.
CURE soared above its 200-day moving average after slowly creeping above that metric prior to the elections.
CURE seeks daily investment results equal to 300% of the daily performance of the Health Care Select Sector Index. The index CURE tracks includes domestic companies from the healthcare sector, which includes the following industries: pharmaceuticals; health care equipment and supplies; health care providers and services; biotechnology; life sciences tools and services; and health care technology.
Health care was a hot-button topic present on this year’s midterm election ballots as voters headed to the polls on Tuesday to decide which healthcare issues to support.