IXN: a Bet on Big Tech with a Global Flavor
Summary
In recent weeks, however, the fund, helped by a weak dollar and international exposure, has steadily climbed the table, claiming the 18th position in the June 10th issue.The continuing merger dance between top holding Microsoft and Yahoo has made this fund an interesting one to watch in recent weeks.Carl Ichan, who owns a 4.3% stake in Yahoo, recently rejected Microsoft’s $47.5 billion dollar bid to acquire the company in its entirety.### Williamstown, MA, June 16, 2008 --( PR.com )-- When the markets shuddered to start the year, tech stocks were among those hardest hit hardest, as the NASDAQ-100 Index lost more than one-quarter of its value from the end of October to mid-March.But tech stocks, especially those of the biggest players with global reach, have been rallying since, with the big-tech index—home to many key holdings of iShares S&P 500 Global Technology—up 18.3% since March 10.In the April 15th issue of the ETF Momentum Tracker IXN held the 31st spot for sector momentum, a place it had hovered since early February.Carl Ichan, who owns a 4.3% stake in Yahoo, recently rejected Microsoft’s $47.5 billion dollar bid to acquire the company in its entirety.