The PowerShares QQQ exchange-traded fund (ETF) indexed to the Nasdaq-100 has seen again this week, ETF Trends reports. The technology sector outperformed the wider market as measured by the S&P 500 between last week and so far this year.
The tech-heavy PowerShares ETF surpassed its 50-day and 200-day moving averages. The SPDR S&P 500 was still below both of these key technical levels. Year-to-date, the ETF has registered a 3.43 percent return, while the SPDR index is down 3.47 percent, and over the five-day period, the fund was up 5.92 percent.
Click here for the story from ETF Trends.