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Analyst says purchase this tech ETF for a long run development story

livemag by livemag
September 6, 2022
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Analyst says purchase this tech ETF for a long run development story
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Traders ought to navigate the continuing market volatility by moving into an exchange-traded fund that faucets a long-term development story: cyber safety, based on John Petrides, portfolio supervisor at Tocqueville Asset Administration. His favourite fund is the ETFMG Prime Cyber Safety ETF , buying and selling beneath the ticker “Hack.” It is presently down round 25% year-to-date — the identical because the tech-heavy Nasdaq Composite — however Petrides mentioned it has a uniquely robust promoting level trying forward. “Traders are very targeted on the brief time period and the macroeconomic scenario. But the long-term secular development story of extra capital being deployed into cyber safety is just not going to cease, actually it was most likely amplified in the course of the pandemic as extra of our each day lives are shifting to the digital world,” Petrides advised CNBC. Shares have been struggling for route of late, because the market gave again some positive factors from the summer season rally after U.S. Federal Reserve Chairman Jerome Powell’s speech at Jackson Gap , the place he harassed a dedication to fee hikes in a bid to battle inflation. Petrides added that outdoors of the power sector, cybersecurity corporations have been one of the best performing this previous earnings season. “As extra of our lives transfer into the digital realm, we will want extra firewalls and extra safety to guard ourselves,” he mentioned. “The thought of proudly owning ETF as an alternative of 1 particular participant — you’ve the entire basket and experience the wave of extra capital funding into the our on-line world.” Listed below are HACK’s prime 10 holdings: A shiny spot in tech Cybersecurity companies have actually reported booming demand. Earnings from CrowdStrike final week shocked on the upside, with second-quarter income rising 58% from a 12 months earlier. In the meantime final month, Palo Alto Networks reported a revenue for the primary time in a decade, and Cisco mentioned its safety enterprise grew quicker than all different segments, surpassing analysts’ estimates by about $100 million. Petrides additionally flagged the Russia-Ukraine conflict as a driving issue, on condition that some conflicts are fought “via the cyber world.” Cyber assaults rose because the conflict began, and prompted a bounce in cybersecurity shares this 12 months. He additionally named one other two ETFs that he says are appropriate for traders with a longer-term view: the World X MLP ETF and the Invesco Water Sources ETF. — CNBC’s Jordan Novet contributed to this report.



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