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St. Jude Lifts Medical Devices ETF

By: ETF Trends
Posted: 4/20/2011 9:47:00 AM
Referenced Stocks: JNJ;STJ

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.

Swiss device maker Synthes recently confirmed it was in merger talks with Johnson & Johnson ( JNJ ).

iShares Dow Jones U.S. Medical Devices