St. Jude Lifts Medical Devices ETF
A sharp rally in St. Jude Medical ( STJ ) lifted specialized healthcare exchange traded funds (ETFs) on Wednesday morning after the medical-device company reported better-than-expected earnings.
The $479 million iShares Dow Jones U.S. Medical Devices Index Fund (NYSEArca: IHI) followed St. Jude shares higher. The stock is a top-five holding at more than 6% of the ETF.
The iShares Dow Jones U.S. Medical Devices was up 12.3% year to date as of April 19, according to Morningstar.
iShares Dow Jones U.S. Medical Devices