Google, Facebook Antitrust Investigation News Weighs on Communications ETFs
By Francesca Fontana
A number of communication services ETFs with high exposure to
Facebook Inc. (FB) and Alphabet Inc. (GOOG) fell Monday after The
Wall Street Journal reported that the two tech giants could face
Among the ETFs trading lower are iShares Global Comm Services
ETF (IXP), Vanguard Communication Services ETF (VOX), and Fidelity
MSCI Communication Services Index ETF (FCOM).
IXP, issued by BlackRock, tracks a market-cap-weighted index of
global telecommunications stocks, according to ETF.com. Among its
top ten holdings are Verizon Communications Inc. (V) and Tencent
Holdings Ltd. IXP falls 2.3% to $54.55, according to FactSet.
VOX, issued by Vanguard, tracks a market-cap-weighted index of
US communication services companies, ETF.com says. Among its top 10
holdings are Comcast Corp. (CMCSA) and Walt Disney Co. (DIS). VOX
loses 2.9% to $81.15.
FCOM, issued by FMR, tracks a market-cap-weighted index of
stocks in the U.S. telecommunication services sector, according to
ETF.com. Among its top 10 holdings are AT&T Inc. (T) and
Netflix Inc. (NFLX) FCOM falls 2.9% to $31.10.
The Wall Street Journal reported that the Federal Trade
Commission had secured rights to begin a potential antitrust
investigation into Facebook sent the social media company's shares
down 8.7%. Meanwhile, Alphabet shares lost 7.1% on a report that
the Justice Department had been given chief oversight over a Google
Write to Francesca Fontana at email@example.com.
(END) Dow Jones Newswires
June 03, 2019 14:23 ET (18:23 GMT)
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