ETF To Play Amazon Earnings With
With Amazon's (Nasdaq: AMZN) incredible third-quarter results now public, investors may want to take a look at some ETFs that are likely to move on the Amazon news. The ETF Professor has found a couple of interesting prospects that may worth looking, though I urge investors to note that both of these names are thinly traded and would be best used for a holding period of at least a few days, not as day trades.
The first Amazon-related ETF that might get a pop tomorrow is the First Trust Dow Jones Internet Index (NYSEArca: FDN). Amazon is the second-largest holding at 5.64% of the ETF's total equity mix. FDN is up about 15% in the past three months.
The next candidate is the Internet HOLDRs (AMEX: HHH) where Amazon accounts for a whopping 31.83% of the total equity mix. So it's reasonable to expect this ETF could get a bounce tomorrow. HHH is up about 7% in the past three months.
