🔴 Software ETF (IGV) is trading 1.5% down today after profit-taking following August 13’s software rally

IGV is trading at $104.65, down -1.53% as investors take profits after its August 13 software rally.

• IGV surged 3.10% on August 13 amid Silver Lake’s reported potential acquisition of Workday, sparking a broad software rally.
• Softer July PPI reduced expectations for a September Fed hike and lowered Treasury yields; macro conditions remained supportive rather than bearish.
• With major indexes nearly flat, weakness appears sector-specific after the prior day’s sharp advance.