Chips · ETF report · iShares Semiconductor ETF (NASDAQ: SOXX)
Chip ETFs — only 24 of 86 chip stocks sit above their 200-day average as SOXX slips under it
The Closelooknet read
The iShares Semiconductor ETF (NASDAQ: SOXX) fell under its long-term trend on a day when only 24 of the 86 stocks in our chip section close above theirs. Just 7 rose over the past month as October closes. SOXX lost 8.2% on Friday's session and closed at $471.51, 1.0% under its 200-day average of $476.37, the average close of the last 200 sessions. What we watch: whether SOXX closes back above $476.37 in the coming sessions, or stays under it with the section's breadth still this thin.
Leaders and laggards in our chip section
SOXX lost 18.2% over the month, and the weakness runs deep at the bottom of our chip section. The five weakest one-month performers are Aehr Test Systems (AEHR) at -46.0%, Intel (INTC) at -45.2%, FormFactor (FORM) at -41.0%, Vicor (VICR) at -38.1% and LPKF Laser & Electronics (LPK.DE) at -36.1%. The strongest are Linde (LIN) at 9.5%, Air Liquide (AI.PA) at 8.7%, Texas Instruments (TXN) at 6.9%, Canon (7751.T) at 3.0% and Advantest (6857.T) at 1.8%. Canon and Advantest trade in Tokyo and Air Liquide in Paris.
The fund facts
SOXX held 30 stocks with $44.9 billion in assets as of 13 September and charges a 0.35% annual fee. The fund launched on 10 July 2001 and is run by iShares. It fell 8.2% on 30 October and is down 18.2% over one month.
Price trend
SOXX is still up 56.6% this year and 52.3% over twelve months. It trades 10.9% below its 50-day average of $529.12 and 28.0% below its 22 June closing high of $655.01. Its typical daily swing is about 2.4%, so Friday's drop was 3.4 times its usual size. The session opened with a 6.7% gap down.
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