Adding to 2 of the Portfolio’s ETF Holdings
We’re acting on the confluence of improving technicals and favorable fundamentals.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
| ROBO | Buy | 390 | 78.81 | 965 | 1.2 |
| XLV | Buy | 185 | 168.73 | 580 | 1.6 |
After you receive this alert, the Pro Portfolio will make the following trades:
— Buy 390 shares of the ROBO Global Robotics & Automation Index ETF (ROBO) at or near $79. Following the trade, we will own 965 ROBO shares, accounting for roughly 1.25% of the Pro Portfolio.
— Buy 185 shares of the Health Care Select Sector SPDR Fund ETF (XLV) at or near $168.50. Following the trade, we will own 580 XLV shares, accounting for roughly 1.6% of the Pro Portfolio.
We are using the recent market pullback to dip our toes a little bit deeper into shares of ROBO and XLV. Both are on the shopping list we shared earlier this week, and today’s move comes as ROBO looks to rebound off its 200-day moving average like it did in late August. With XLV, the ETF’s recent decline from the September high near $174 has closed August gaps on the chart and we’re seeing a similar pattern to ones in late August and early September.
On the fundamental side of the equation, accelerated depreciation, capital spending and productivity targets bode well for ROBO’s constituents, while demographic trends keep us bullish on the longer-term prospects for XLV.
As we make these trades, we will reset our checkpoint level for ROBO to $68 from $70 and nudge XLV’s to $147 from $144.
We recognize other “items” on our shopping list are at or near potential pickup points. We will continue to evaluate other opportunities to put capital to work in the near-term being mindful of market seasonality, market technicals and the potential downside risks to S&P 500 consensus estimates. While we can’t rule out any sizable moves to deploy capital, against that backdrop, the odds of that happening in the near-term are low.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade’s executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long ROBO and XLV shares.
