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Portfolio manager adds XLV and ROBO ETFs as tech-led gains fade
TheStreet Pro Portfolio initiated positions totaling about 1.75% of assets, with price targets of $180 for XLV and $95 for ROBO.
Yahoo Finance reports that Chris Versace, portfolio manager of TheStreet Pro Portfolio, started two new ETF positions on Aug. 5, adding the Health Care Select Sector SPDR ETF (XLV) and the Robo Global Robotics and Automation Index ETF (ROBO).
According to the report, Versace bought 395 shares of XLV at or near $164, a stake worth roughly 1.0% of total portfolio assets, and 575 shares of ROBO at or near $84.50, about 0.75% of assets.
The additions follow the portfolio's existing cybersecurity strategy and extend exposure to additional end markets, with Versace saying he expects to grow the positions over multiple years. The portfolio plans to build holdings over time by adding on pullbacks rather than buying all at once.
The report says Versace assigned both new positions an initial rating of Two, reflecting caution after a strong S&P 500 run led largely by technology and AI stocks. Initial price targets were set at $180 for XLV and $95 for ROBO, with checkpoint levels at $144 and $70, respectively, prompting a review if either ETF declines to those levels.
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