Semiconductor ETF Gets A Makeover

Competition in the semiconductor ETF space has always been fierce, with no fewer than four products (SMH, IGW, XSD, PSI) from four different issuers (Merrill Lynch, iShares, State Street, PowerShares) all targeting a relatively narrow slice of the tech sector. Perhaps aiming to capture a greater portion of this market, iShares recently announced plans to tweak its S&P North American Technology-Semiconductors Index Fund (IGW). The company plans to change the ticker and underlying index of the largest semiconductor ETF (excluding Merrill’s HOLDRS product), which will be listed on the NASDAQ Exchange effective October 15. The index underlying the fund will change from the S&P North American Technology-Semiconductors Index to the PHLX Semiconductor Sector Index, a modified cap-weighted benchmark consisting of about 30 semiconductor stocks. The ticker will change from IGW to SOXX. The new index is linked to two leveraged products from Direxion: the Daily Semiconductor Bull 3x Shares (SOXL) and [...] Click here to read the original article on ETFdb.com. Related Stories: Semiconductor ETFs Soar On Intel’s Bullish Outlook Definitive Guide To Semiconductor ETFs: Semiconductor ETFs 101 Direxion Launches Six New Leveraged ETFs