John Detrixhe, Future of Finance Reporter
Tech stocks are booming, despite concerns about how some of sector’s giants, like Google and Facebook, make money from personal data. Cyber security companies, meanwhile, have performed even better, as more of our lives are digitized and hacks become more common and sophisticated.
A popular cybersecurity exchange traded fund (ETF) has soared by 20% this year. That compares with 14% for one of the most widely traded tech ETFs, and 4.5% for a fund tracking the S&P 500 index of US stocks. Key constituents of the Prime Cyber Security ETF (which trades under the on-brand ticker HACK) include companies like Palo Alto Networks and Qualys, both of which have gained more than 40% in value so far this year.