Discover Another Tech ETF
In the world of technology ETFs, the usual suspects get the bulk of investors' attention. The Semiconductor HOLDRs (AMEX: SMH), Technology Select SPDR (NYSE: XLK) and the Nasdaq tracking ETF, the QQQ (Nasdaq: QQQQ) are just a few of those usual suspects.
Given the low average volume, many investors apparently haven't heard about the SPDR Morgan Stanley Technology ETF (NYSE: MTK). MTK is an interesting ETF given that its top three holdings aren't exactly gods of the tech sector.
Sony (NYSE: SNE), Ericcson (Nasdaq: ERIC) and Nokia (NYSE: NOK) are MTK's top three holdings. Don't worry, you can find stalwarts like Apple (Nasdaq: AAPL), Intel (Nasdaq: INTC) and Cisco (Nasdaq: CSCO) in MTK as well.
Regardless of holdings, MTK has performed in line with QQQ over the past month and outperformed XLK and SMH, yet the talking heads on CNBC would never tell you about this ETF.
MTK is not optionable and that may be one reason behind the weak volume, but assets are strong at almost $240 million, so MTK isn't likely to close up shop anytime soon.
MTK made a new 52-week high on Wednesday, but if you're a believer in tech, you should believe in MTK.
