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ETF Outlook For Wednesday, April 23, 2014 (MGC, IYZ, TAN, BBH, GILD, T)

Benzinga.com
0 Comments| April 23, 2014

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Vanguard Mega Cap 300 Index ETF (NYSE: MGC)

On Tuesday, the technicians at Bank of America made an argument that the leadership in the market is moving from the small cap stocks to the mega cap asset class.

The smaller companies led the most recent rally/uptend that began in 2012 and now they are starting to lag as the largest stocks by market cap in the market are holding up much better. MGC is one of the ETFs that concentrates on the largest stocks in the U.S.

The ETF is composed of 300 stocks that currently trade at a P/E ratio of 18.3 according to the Vanguard website. MGC is down 0.4 percent from its all-time high while the iShares S&P Small Cap 600 Index ETF (NYSE: IJR) is down 2.7 ...

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