Let me start by saying I apologize for not getting out a Weekly Technical Market Outlook post on Monday. I’ve been extremely busy and just didn’t get time over the weekend to write it up. I’ll be back next week with a Technical Market Outlook post for sure.
Yesterday I tweeted a link to a WSJ article discussing the checklist put together by Strategas for when they will believe we’ve hit a bull market top. The team at Strategas had only checked two of the boxes and one that was left off was ‘IPO Activity.’ This peaked my interest in checking in on the First Trust IPO ETF ($FPX), which has risen nearly 300% over the last five years with a large spike in volume. In my TraderPlanet piece this week I take a look at the price action of this IPO ETF as well as another interesting statistic of the large surge in interest for the IPO market.
Here’s a piece:
The First Trust IPO Index ETF (FPX) has been trading since early 2006 but didn’t see a spike in its popular until last year. The ETF seeks to provide exposure through a value-weighted index of the 100 largest stocks in the IPOX Global Index. Some of its largest holdings include Facebook, General Motors, Kraft Foods, Tesla, and Phillips 66. Like many assets, $FPX got cut by more than half during the 2008 crisis. However, over the last five years its shot up nearly 300% while the overall equity market has risen just half that.
Read the rest: Surge In Interest For This IPO Market ETF (TraderPlanet)
Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+, Twitter, and StockTwits.