By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
9/21/16 Daily Closing Analysis – NASDAQ Fintech Index (KFTX)
Keeping it up. Very strong and almost new highs for the KFTX index which moved up 6.71 points to 1052.63, a nice gain of +0.64%. The broader NASDAQ composite did hit a new yearly high today but remember that index has AAPL, AMZN plus a couple more big names and the new KFTX is confined to fintech issues. Relatively speaking, fintech is very strong.
Four stocks managed to move +/- 3% intraday; ENV closed at 39.77, up 1.43 (+3.73%); RATE finished at 8.27 +.45 (+5.75%); SEIC ended at 46.62 a +.59 (+1.28%); and VIRT was lower at 16.20 off -.33 (-2%). The last two issues were both above and below 3% during the day.
Big point gainers/losers (+/- 2.00) were; ADS +2.43 (218.06); Oh wow! That’s all….just one.
So where now? Looks like it’s time to bring the pillow to work day. Seems the BIG name stocks move the averages, but a lot of other issues are just plain dull. Maybe a blanket with that pillow too. Have a nice evening.