ETFs with big Cisco stakes fall as network-equipment giant’s stock set for worst day in 9 years

/ / News

Shares of Cisco Systems Inc. slid more than 11% Thursday, on track for their worst day since February 2011, taking a few exchange-traded funds along with them. The iShares North American Tech-Multimedia Networking ETF , with 8.3% of its holdings in the equipment maker, fell 1.1% in the late morning. The First Trust NASDAQ Technhology Dividend Index Fund , which has 7.2% of its portfolio in Cisco shares, lost 1%. The Invesco Buyback Achievers ETF , which has a 4.8% stake, was down 1.2%. The broader stock market was flat, while the tech-heavy Nasdaq Composite Index rose 0.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.