Pharma looks fugly on a relative basisBreaking down through support, this is what kept me out of trading PFE to the long-side even though it looked bullish. With the elections coming up and democrats leading the polls, I'd stay away from pharma and insurers. Lean towards medical devices if you need healthcare exposure.
Key stats
About Invesco Pharmaceuticals ETF
Home page
Inception date
Jun 23, 2005
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Invesco Capital Management LLC
Distributor
Invesco Distributors, Inc.
PJP uses a quant-driven methodology to select and weight pharmaceutical companies based on fundamental and risk factors. Specifically, the fund holds about 30 US stocks that are evaluated based on five factors: price momentum, earnings momentum, quality, management action, and value. Although some of the major names are represented in the portfolio, PJPs multi-factor selection process and tier-weighting scheme tilts the fund toward mid and small-caps resulting in a low overall weighted average market cap. It therefore reduces concentrations in mega-caps and evenly weights the group of companies across size. Still, its small portfolio takes concentrated stakes in some leading names. The fund and the index are rebalanced and reconstituted quarterly in February, May, August and November. Prior to August 28, 2023, the fund traded under the name Invesco Dynamic Pharmaceuticals ETF.
Classification
What's in the fund
Exposure type
Health Technology
Stock breakdown by region
PJP Pharmaceuticals at SupportI was trying to figure out why SUPN tanked after solid earnings, looks like the market tanked the whole sector. Sucks when a moeny making company gets grouped in with a bunch of speculative biotech firms, but it is what it is.
Looks to be either an inverted head and shoulder or an upright one. EIi
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Summarizing what the indicators are suggesting.
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Moving Averages
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Displays a symbol's price movements over previous years to identify recurring trends.