25 Nov

XLV Trades Near 100-Day Moving Average, Rises 0.3%


XLV rises o.3%

The market continues to be choppy. On Tuesday, November 24, 2015, the markets regained whatever was lost on Monday, November 23, increasing marginally. The S&P 500 rose 0.1%, and the Dow Jones Industrial Average rose 0.1%.

Biotech ETFs and stocks had a mixed day on Monday with most biotech ETFs rising or falling marginally. The iShares Nasdaq Biotechnology ETF (IBB) fell 0.2%, the Health Care Select Sector SPDR ETF (XLV) rose 0.3%, while the SPDR S&P 500 ETF (SPY) rose 0.15% on November 24.

XLV closed at $71.56 on November 24, trading 0.35% below the 100-day moving average price of $71.89 and 0.2% above the 20-day moving average price of $71.40. The trading volumes were relatively low, with ~7.1 million shares being traded compared to the five-day average trading volume of ~10.2 million shares per day. Out of XLV’s 56 holdings, 30 stocks gave positive returns, while 26 stocks ended up in the red.

XLV Trades Near 100-Day Moving Average, Rises 0.3%

The above table reflects the moving averages and returns of XLV, SPY, and a few top performing stocks for the day. On a YTD (year-to-date) basis, XLV has outperformed SPY with returns of 5.2% and 1.9%, respectively.

Tenet Healthcare rises 4.7%

Tenet Healthcare (THC) rose for the third consecutive day and rose 4.7% on November 24, 2015. The trading volumes were down, with ~2.4 million shares traded compared to the five-day average trading volume of ~2.8 million shares per day.

THC closed at $33.69 and was trading at a discount of 15.4% to the 100-day moving average price of $44.76. However, it was trading 1.5% higher than the 20-day moving average price of $32.61. The trailing 12-month (or TTM) price-to-earnings (or PE) ratio stood at 187.16x.

THC has a book value of $8.05 per share. With its current market price, the stock is trading at a price-to-book value (or PBV) of 4.18x. However, the fund’s industry average is 2.73x, indicating that THC’s PBV is above the average. THC has a weight of ~0.12% in XLV’s portfolio.

Other stocks that performed well on November 24 were Allergan (AGN), HCA Holdings (HCA), and Pfizer (PFE), which rose 3.2%, 2.4%, and 2.1%, respectively.

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