August 2020: Week 2
Edition #006 - Data recap of last week's big moves inside the Tech ETF landscape. See what to keep an eye on for the week ahead.
A big week this week so thanks very much to everyone who’s joined FinLister Weekly.
We grew by 40% from 101 to 142 subscribers over the last 7 days. Last week’s open rate was 61% and quite a bit more on views, so thanks for helping me grow this by word of mouth.
For those joining for the first time, FinLister Weekly is a data recap of last week's big moves inside the Tech ETF landscape: presenting both what happened in the previous week and then what has been going on YTD. The data is presented at a relatively high level in some areas, and a bit more granular in others.
To note, there was one stock which jumped from $4 to $27 throughout the week, reaching a $2b market cap. That won’t appear in the first half of this report as it was not in a top performing weekly ETF. Skip to the Year-To-Date section half way through to read more on that stock.
Weekly Changes:
Out of 114 Tech ETFs analysed, the average ETF had a negative week last week, losing on average 0.54%.
While the S&P 500 outperformed Tech with a rise of 0.53%.
With this general under performance, the Top 5 had a minor week, with all ETFs gaining 2-3% through the period. Infrastructure Tech saw the major strength of the week with GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) leading the way.
Followed closely by SCID (Global X Scientific Beta Europe ETF), one of the larger ETFs we’ve seen at the top, with 465 total holdings, 108 being US listed.
As a result it’s not surprising to see SCID with 4/5 top US listed stocks from this cohort. With $30m micro-cap AUTO (AutoWeb is an automotive media and marketing services company) leading the way.
Similar to last week, all 5 ETFs were regular (non-inverese) and non-levered ETFs which is impressive.
3x levered SOXL (Direxion Daily Semiconductor Bull 3x Shares) sat in 11th spot for the week.
The bottom 5 stocks from these top ETFs all held modest falls and were spread between GRID, SCID and ROKT.
With AGR (Avangrid) an energy services and delivery company leading the fall. Avangrid serves about 3.1 million customers throughout the state of New York and New England and has a market cap of $15b.
Year-To-Date:
Of the 107 ETFs which have been around YTD, the average return sits at 18% (steady from 18% last week). The S&P 500 which also held onto its strong past two weeks of gains and has maintained it’s position inside positive territory at 4.88 % YTD.
The constituents of the top 5 saw a couple of changes.
ARKK moved from 2nd to 1st spot, switching with ARKK.
CWEB dropped from 3rd to 8th.
HERO climbed from 6th to 3rd.
WCLD fell out of the top 5 last week but managed to break back into 4th position this week.
And ARKF dropped from 4th to 5th.
As I mentioned in the into, last week was a monster week for MCRB (Seres Therapeutics Inc), which had spent the first 8 months of the year trading in the $3-$5 range, before reaching up through $27 throughout last week.
MCRB jumped after positive Phase 3 data on treatment for colon infections, you can read more about them here. As news broke, on 8/10/2020 ARKK was quick to sell 1,108,549 shares to capture some profits, but still holds 16,470,761. They also hold MCRB in their ARKG Genomics Fund with 73,184,976 shares there. I’ll be watching both ARK funds closely this week to see if they make any more moves on MCRB.
On the other end of the table the bottom all 5 ETFs had negative week, and were not able to capture the negative tail winds despite their leverage.
On the stock side of things, we see a similar group to past weeks. With LC (Lending Club) and Eventbrite still not making much of a recovery since their March drops.
As always, hope this issue gives you a better footing to start the week off on.
While this email will continue to live on, the goal is to provide you with a better tool so you can do this yourself, with criteria more specific to you.
So here is a little sneak-peak at the FinLister tool, which will hopefully be coming to a desktop near you in the next 45 days.
P.S.
I actually made the first mockups of the site by working first in InspireFrame. I know there are a couple of people who read this which have been asking me about the process of building FinLister, so thought I’d share that great tool here too.
Stay tuned,
And thanks again for reading,
Stuart