Virtus Terranova U.S. Quality Momentum ETF Sells Nike, Ulta Beauty In ETF Rebalance
Portfolio Pulse from Benzinga Newsdesk
Virtus Terranova U.S. Quality Momentum ETF (JOET) has sold its holdings in Nike (NKE) and Ulta Beauty (ULTA) during its recent ETF rebalance.
November 01, 2023 | 4:55 pm
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NEUTRAL IMPACT
Virtus Terranova U.S. Quality Momentum ETF has rebalanced its portfolio, selling its holdings in Nike and Ulta Beauty.
The rebalancing of JOET's portfolio could potentially impact its performance depending on the performance of the stocks it has sold and those it has acquired. However, without specific information on what stocks it has bought, it's difficult to predict the direction of the impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Nike's stock has been sold by Virtus Terranova U.S. Quality Momentum ETF during its recent rebalance.
The sale of Nike's stock by JOET could potentially lead to a short-term decrease in Nike's stock price due to the selling pressure. However, the long-term impact would depend on the overall market sentiment towards Nike.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Ulta Beauty's stock has been sold by Virtus Terranova U.S. Quality Momentum ETF during its recent rebalance.
The sale of Ulta Beauty's stock by JOET could potentially lead to a short-term decrease in Ulta Beauty's stock price due to the selling pressure. However, the long-term impact would depend on the overall market sentiment towards Ulta Beauty.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50