News of a massive worldwide cyberattack involving Windows pushed the PureFunds ISE Cyber Security ETF (HACK) and the First Trust Nasdaq Cybersecurity ETF (CIBR) sharply higher Monday. Both funds, which focus on cybersecurity firms, were on the frontline of action following the latest news.
That’s a great example of what niche investing is all about.
The Wannacrypt ransomware attack late last week caused the appeal of cybersecurity ETFs soar this week. HACK and CIBR rallied some 3% on Monday, putting year-to-date gains at 16% and 13.5%, respectively.