Therefore, the outlook for the stock is neutral with a bullish bias. The stock is at an important resistance level since this was the highest point in January, February, and May. It has also formed an inverted head and shoulders pattern. The stock has moved above the 50-day and 25-day moving average. It has risen by over 20% from the lowest level in 2022. The daily chart shows that the DIA ETF has been in a slow bullish trend in the past few months. The Technology Select Sector SPDR Fund seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the Technology Select Sector Index (the Index) The Index seeks to provide an effective representation of the technology sector of the S&P 500 Index. SPDR Dow Jones ETF stock price analysis Copy link to section Other top laggards in the DIA ETF are 3M, Amgen, Chevron, UnitedHealth Group, and Goldman Sachs. As I wrote here, the company’s growth and profitability have worsened in the past few months. Walgreens Boots Alliance has seen its shares drop by 235 this year. There have been some spectacular laggards in the Dow Jones index. Another way is to only rebalance when the weights of a stock moves a significant amount. Other best-performing companies in the Dow Jones are Cisco, American Express, McDonalds, and Visa among others. One example is partial rebalancing only rebalancing 25 percent of the stocks every quarter. Nvidia has seen its market cap grow to over $1 trillion. However, the embattled company has underperformed other top semiconductor companies like AMD and Nvidia.
Intel stock price has risen by over 29% this year as demand for semiconductors has risen. The company has become one of the top artificial intelligence bets this year due to its partnership witth OpenAI, the creators of ChatGPT. Microsoft is the second-best performing stock in the SPDR Dow Jones ETF as it jumped by more than 39%. It launched a virtual reality headset that could disrupt the industry. The shares jumped recently when the company introduced a new category in the sector. Some of the top activist holders in the company are Elliot Management, Starboard Value, Third Point, and Inclusive Capital.Īpple stock price has jumped by over 44% this year as investors bet that its growth will continue. Salesforce, the biggest CRM company, has done well as the management implements a turnaround after it came under activist pressure. Salesforce stock price has soared by over 57%, making it the leader in the fund.
Indeed, tech companies in its funds have been the top-performers this year. The SPDR Dow Jones ETF has lagged the other two major funds because of their exposure to technology companies. One has NVDA in it, the other one doesn't at the moment but could add it at the next reconstitution. The fund has underperformed the other popular ETFs like the SPDR S&P 500 and Invesco QQQ. The ETF includes 2 sub-portfolios which rebalance every 6 months (but not at the same time). It has risen by about 2.42% this year and by over 7% in the past 12 months. The SPDR Dow Jones Industrial Average ETF (DIA) stock price has done well this year.
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