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| Friday, September 22, 2006 |
Technology Select Sector SPDR, (XLK)
The most popular tech ETF, Technology Select Sector SPDR, (XLK) has gained 6.7% in the past month.
At the same time, Energy Select Sector SPDR (XLE) is down more than 9.61% in the past month. It's the most heavily traded energy ETF, averaging 17 million shares per day.
"We're seeing a rotation out of energy into tech," said Anthony Welch, a money manager at Sarasota Capital Strategies. "We really noticed it around mid-July. As a result, we've sold all of our energy positions." |
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