How are IHI stocks’ moving averages?
The iShares US Medical Devices ETF (IHI) has 50 stocks in its portfolio. On October 12, 2015, 46% of its stocks were trading above their 20-day moving averages, 22% of the stocks were trading above their 50-day moving averages, and 26% of the stocks were trading above their 100-day moving averages. IHI closed at $115.35 and surpassed its 20-day moving average, but was still trading below its 50-day and 100-day moving averages.
The above graph reflects the percentage of IHI stocks that were trading above different moving averages. On October 12, 2015, out of 50 stocks, 23 stocks were trading above 20-day moving averages, 11 stocks were trading above 50-day moving averages, and 13 stocks were trading above 100-day moving averages.
Nuvasive trades above 100-day moving averages
Nuvasive (NUVA) gained 1.3% on October 12, 2015. The stock went up on the news that the FDA (Food and Drug Administration) gave clearance for its cervical corpectomy cage. In the press release, NUVA announced “the first ever FDA 510(k) clearance of a cervical corpectomy cage. The X-Core® Mini Cervical Corpectomy System is an expandable titanium vertebral body replacement device designed to provide enhanced stability following a corpectomy procedure. This first-of-its-kind clearance further showcases NuVasive’s commitment to investing in innovative technology and clinical research to improve patient outcomes.”
NUVA closed at $51.61 and was trading above its 100-day moving averages but below its 50-day and 20-day moving averages. NUVA makes up 0.76% of IHI’s portfolio.
Some of the other stocks within IHI that were trading above 100-day moving averages are Edward Lifesciences (EW), Abiomed (ABMD), and Cantel Medical (CMN), which gave returns of 0.9%, -0.8%, and 2.1%, respectively.