Biotech ETFs at two-week highs on upbeat vaccine news

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Biotech exchange-traded funds got a bounce Friday from bullish news on coronavirus treatments. The ALPS Medical Breakthroughs ETF , the ARK Genomic Revolution ETF , and the First Trust NYSE Arca Biotechnology Index Fund were all up 1.4% at midday, dwarfing the 0.4% rise for the S&P 500 . The ALPS ETF and the one from First Trust were on track for their best day in two weeks. None of those funds have any holdings of Pfizer Inc. , which said early Friday it could file for emergency use authorization for its COVID-19 vaccine from the Food and Drug Administration as soon as late November. The ETF with the biggest stake in Pfizer shares, the First Trust Nasdaq Pharmaceuticals , was up only 1.1%.
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