Pfizer’s Acquisition of Hospira Boosts Healthcare ETFS

ETF Trends reported that healthcare ETFs enjoyed some gains on Thursday after Pfizer Inc. (NYSE:PFE) announced that it plans to acquire Hospira Inc. (NYSE:HSP) for $17 billion.

As quoted in the market news:

Pfizer is the second-largest holding in the Health Care Select Sector SPDR (NYSEArca: XLV), the largest health care ETF, while Hospira is a smaller holding in the fund. Together, the two stocks entered Thursday with a combined weight of 8% in XLV. The $12.7 billion XLV tracks the S&P Health Care Select Sector Index.

That is the same index the the Direxion Daily Healthcare Bull 3x Shares (NYSEArca: CURE) attempts to deliver three times the daily returns of, so what is good for XLV is even better for CURE. And things have going quite well for CURE.

Click here to read the full ETF Trends report.