Biotech ETFs Get a Boost

An earnings surprise and buyout rumors lifted biotech stocks and ETFs higher last week.

In the article Profit Surprise Leads Biotechs Higher, Investors’ Business Daily‘s Trang Ho reports that Myriad Genetics (MYGN) reported higher than expected earnings while Human Genome Sciences (HGSI) was at the center of a rumored buyout by partner GlaxoSmithKline (GSK).

ETF investors can gain exposure to the biotech industry through the First Trust NYSE Arca Biotechnology Index Fund (FBT). Other biotech ETFs include the SPDR S&P Biotech ETF (XBI), Nasdaq Biotechnology Index Fund (IBB), and the PowerShares Global Biotech Portfolio (PBTQ).

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