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SPECIAL REPORT: SPEEDING TO 5G

China and the U.S.


Duke It Out
How to Invest in the Qualcomm’s President
on the 5G Rollout
PAGE 25 New Technology PAGE 26
PAGE 20

VACCINE
VOL. C NO. 20 MAY 18, 2020 $5.00

The global economy depends on it.


>
Inside the science and companies
racing to stop Covid-19
63142

PAGE 11
C O NT EN TS 05.18.20 VOL.C NO.20

P. 5 P. 20 P. 32

Tech Trader: Cisco’s


Up & Down Wall Street:
Glimmers of Hope Will 5G Get a Poor Reception? Not-Awful Quarter
The economic news would be The next big thing in wireless will ultimately change our lives. And while it might not By ERIC J. SAVITZ
worse were it not for the Fed’s be the best time to pitch pricey phones or to expect cities and corporations to invest in
massive stimulus—but there’s still network upgrades, some stocks are worth buying now. By NICHOLAS JASINSKI P. 33
plenty that could go wrong.
By RANDALL W. FORSYTH P. 25 P. 26
Economy: The Role of
Wealth in Trade Wars
P. 10
The Tech Cold War Between Insights From a Qualcomm By MATTHEW C. KLEIN
the U.S. and China Heats Up Veteran on the 5G Rollout
What PNC Might Do By RESHMA KAPADIA By ERIC J. SAVITZ P. 34
With Its $14 Billion
Cash raised from the sale of its
Other Voices: Tackling
BlackRock stake gives PNC the How Consumers Feel About 5G Covid-19 Together
flexibility to take over rivals such 0% 5 10 15 20 25 30 By PETER LIESE
as Regions Financial or Synovus.
By CARLETON ENGLISH P. M1
Very

P. 11
interested Trader: Stocks Were
Ready to Take a Break
Front-Runners in the A little bit
interested By BEN LEVISOHN
Race for a Vaccine
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Using either bold new approaches Neutral P. M4


for developing treatments or tried-
and-true strategies, drugmakers
Euro Trader: Rolls-
are in a quest to conquer Covid-19.
A little bit not
interested
Royce Shares Sputter
By JOSH NATHAN-KAZIS By RUPERT STEINER

Not interested
P. 14 at all P. M4
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Three Back-to-Work I don’t know.


Emerging Markets:
Coronavirus Plays I am not sure The Next Amazon
Zebra Technologies, Ecolab, and By CRAIG MELLOW
FLIR Systems all specialize in Source: UBS Evidence Lab
products and services that will P. M5
make offices safer for employees.
By AL ROOT
Striking Price: Time to
Take Peloton for a Spin
Index P. 4
P. 15 P. 27 P. 7 By STEVEN M. SEARS
Review & Preview P. 8
Wayfair Shares Are Mailbag P. 35 Judging if a Company Streetwise: The Case P. M6
Far From Cheap
Inside Scoop P. M7
Has Staying Power for ViacomCBS
The e-commerce pioneer has
Charting the Market P. M9
Winners & Losers P. M10 Profile: WCM’s talented fund By JACK HOUGH
Commodities: Uranium
enjoyed a pandemic-fueled sales Research Reports P. M11
managers have found that a strong Reacts to Tight Supply
Market View P. M12
spurt. But before long, it’s likely to corporate culture helps businesses P. 19 By MYRA P. SAEFONG
revert to its cash-consuming ways. adapt more quickly to change.
By BILL ALPERT By SARAH MAX
Income: Eight Stocks
With Yields Above 2% Barron’s Roundtable
P. 16 P. 30 By LAWRENCE C. STRAUSS
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4 BARRON’S May 18, 2020

I N D EX
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A Agnico Eagle Mines . . . . . . . . . . . . . . . . . . . . . M12 J J.C. Penney . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Liberty Media SiriusXM . . . . . . . . . . . . . . . . . . . 16 N Netflix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,M7
Airbus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M4 Johnson & Johnson . . . . . . . . . . . . . . . . . . 11,19,M3 Liberty TripAdvisor Holdings . . . . . . . . . . . . . . 17 Newmont . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M12
Alibaba Group Holding . . . . . . . . . . . . . . . . . . . . . . 9 Juniper Networks . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Live Nation Entertainment . . . . . . . . . . . . . . . . 16 Nokia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,25,26,28
Allstate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M5 Norwegian Cruise Line Holdings . . . . . . . . . . 10
Amazon.com . . . . . . . . . . . . . . . . . . . . . . . . 15,M1,M4 K Kinross Gold . . . . . . . . . . . . . . . . . . . . . . . . . . . . M12 M Macy's . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M7 Novavax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,M9
AMC Entertainment Holdings . . . . . . . . . . . . M9 Kroger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M3 Marvell Technology Group . . . . . . . . . . . . . . . . . 24
American Tower . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 KT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 McDonald's . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,19 O Occidental Petroleum . . . . . . . . . . . . . . . . . . . . . . 29
Apple . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,19,24,M1 McKesson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Applied Materials . . . . . . . . . . . . . . . . . . . . . . . . . M9 L LendingTree . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Medtronic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,19 P PagSeguro Digital . . . . . . . . . . . . . . . . . . . . . . . . M4
AstraZeneca . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Liberty Broadband . . . . . . . . . . . . . . . . . . . . . . . . 16 MercadoLibre . . . . . . . . . . . . . . . . . . . . . . . . . . . . M4 Parker Hannifin . . . . . . . . . . . . . . . . . . . . . . . . . . M5
AT&T . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,20,26 Liberty Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Merck . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 PBF Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Aurora Cannabis . . . . . . . . . . . . . . . . . . . . . . . . . . M9 Liberty Latin America . . . . . . . . . . . . . . . . . . . . . 17 Microsoft . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,M3 Peloton Interactive . . . . . . . . . . . . . . . . . . . . . . . M5
Avid Technology . . . . . . . . . . . . . . . . . . . . . . . . . . M7 Liberty Media Liberty Braves . . . . . . . . . . . . . 16 Moderna . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 PepsiCo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Liberty Media Formula One . . . . . . . . . . . . . 16,17 Morgan Stanley . . . . . . . . . . . . . . . . . . . . . . . . . 9,M5 Pfizer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
B BankUnited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 PNC Financial Services Group . . . . . . . . . . . 8,10
Barrick Gold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M12 Portola Pharmaceuticals . . . . . . . . . . . . . . . . . . M7
Baxter International . . . . . . . . . . . . . . . . . . . . . . M5 Procter & Gamble . . . . . . . . . . . . . . . . . . . . . . . . . 19
Berkshire Hathaway . . . . . . . . . . . . . . . . . . M3,M4
Best Buy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,9 Q Qorvo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Beyond Meat . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M7 Qualcomm . . . . . . . . . . . . . . . . . . . . . . . . 24,25,26,M9
BioNTech . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Quidel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M9
BlackRock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,10 Qurate Retail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Blackstone Group . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
BMW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M4 R Regions Financial . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Boeing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M4,M5 Rupert Murdoch Executive Chairman, News Corp Rolls-Royce Holdings . . . . . . . . . . . . . . . . . . . . . M4
Booking Holdings . . . . . . . . . . . . . . . . . . . . . . . . . M7 Robert Thomson CEO, News Corp Almar Latour CEO, Dow Jones Royal Caribbean Cruises . . . . . . . . . . . . . . . . . . . 10
Broadcom . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Royal Gold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M12
DEPUTY PUBLISHER, BARRON’S GROUP Daniel Bernard
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C Cameco . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M6 ASSOCIATE PUBLISHERS, BARRON’S GROUP Mae M. Cheng, Dan Shar S Samsung Electronics . . . . . . . . . . . . . . . . . . . . . . . 26
Canadian Pacific Railway . . . . . . . . . . . . . . . . . . 28 MANAGING EDITORS, BARRON’S GROUP Duncan Mavin, Dave Pettit Sanofi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
Carnival . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,M7 HEAD OF INTERNATIONAL, BARRON’S GROUP Francesco Guerrera SBA Communications . . . . . . . . . . . . . . . . . . . . . . 22
Cassava Sciences . . . . . . . . . . . . . . . . . . . . . . . . . M9 Seattle Genetics . . . . . . . . . . . . . . . . . . . . . . . . . . M7
Centene . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M3 Shopify . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Charter Communications . . . . . . . . . . . . . . . . . . . 16 Sirius XM Holdings . . . . . . . . . . . . . . . . . . . . . . . . 16
Ciena . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 EXECUTIVE EDITOR Bob Rose SENIOR MANAGING EDITOR Lauren R. Rublin Skyworks Solutions . . . . . . . . . . . . . . . . . . . . . . . . 24
Cintas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M9 Slack Technologies . . . . . . . . . . . . . . . . . . . . . . . . M7
Cisco Systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 DEPUTY EDITOR Alex Eule
Ben LevisohnDEPUTY EDITOR Snap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Comcast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,16,19 EDITORIAL DIRECTOR, INVESTING & ASSET MANAGEMENT Beverly Goodman Sorrento Therapeutics . . . . . . . . . . . . . . . . . . . . M9
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Corning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 EDITORIAL DIRECTOR, MAGAZINE Phil Roosevelt Stage Stores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8


Costco Wholesale . . . . . . . . . . . . . . . . . . . . . . . . . . 19 StoneCo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M4
Crown Castle International . . . . . . . . . . . . . . . . 22 MANAGING EDITOR, DIGITAL Matt Bemer MANAGING EDITOR, FEATURES Jeffrey Cane Synovus Financial . . . . . . . . . . . . . . . . . . . . . . . . . .10
CSL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 MANAGING EDITOR, ENTERPRISE Brian Hershberg

ASSISTANT MANAGING EDITORS Mary Romano, Robert Sabat


T Taiwan Semiconductor Manufacturing . . . . . . 25
D Delta Air Lines . . . . . . . . . . . . . . . . . . . . . . . . . . . M7 Targa Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
DraftKings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M9 ASSOCIATE EDITORS Andrew Bary, Randall W. Forsyth, Jack Hough, Eric J. Savitz Target . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,9
Tesla . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
E Ecolab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 SENIOR WRITERS Bill Alpert, Daren Fonda, Reshma Kapadia, Matthew C. Klein, Leslie P. Norton, Tivity Health . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M7
Ericsson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,25,26 Al Root, Avi Salzman, Alexandra Scaggs, Lawrence C. Strauss T-Mobile US . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,M5
REPORTERS Lisa Beilfuss, Carleton English, Nicholas Jasinski, Evie Liu, TripAdvisor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
F Flir Systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Twitter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M5
Josh Nathan-Kazis, Teresa Rivas, Connor Smith, Ben Walsh
F.N.B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Franco-Nevada . . . . . . . . . . . . . . . . . . . . . . . . . . M12 STORY EDITORS Henry Cutter, Ed Lin, Erin McCarthy U Uber Technologies . . . . . . . . . . . . . . . . . . . 8,20,M7
Fulton Financial . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 UnitedHealth Group . . . . . . . . . . . . . . . . . . . . . . M3
COPY DESK Michael J. Burlingham, Richard Rescigno, Robert Teitelman United Rentals . . . . . . . . . . . . . . . . . . . . . . . . . . . M5
G GCI Liberty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 EDITOR AT LARGE Jack Otter
Gilead Sciences . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 V Verizon Communications . . . . . . . . . . . . . . 19,20,26
GlaxoSmithKline . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 AUDIO PRODUCER Mette Lützhøft DIGITAL PRODUCERS Robert Cushing, Clare McKeen ViacomCBS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Goldman Sachs Group . . . . . . . . . . . . . . . . . . . . . . 10
DESIGN DIRECTOR Chris Mihal ART DIRECTORS Robert Connolly, Sue Ng
Grubhub . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,M7,M9 W Walmart . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,M4
DIRECTOR OF PHOTOGRAPHY Sarina Finkelstein PHOTO EDITOR Nicole Silver Wal-Mart de Mexico . . . . . . . . . . . . . . . . . . . . . . M4
H Halliburton . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 RESEARCH DIRECTOR Pauline Yuelys RESEARCHER Dan Lam Walt Disney . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Harley-Davidson . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Wayfair . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Hewlett Packard Enterprise . . . . . . . . . . . . . . . . 9 STATISTICS MANAGER Michael T. Kokoszka STATISTICIAN Darren Chima Wells Fargo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Holly Energy Partners . . . . . . . . . . . . . . . . . . . . 29 Wendy's . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M11
James H. Balmer ASSOCIATE MANAGER Ward S. McGuiness
MANAGER, ADVERTISING SERVICES
Home Depot . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Western Digital . . . . . . . . . . . . . . . . . . . . . . . . . . . M5
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Honeywell International . . . . . . . . . . . . . . . . . . . 14 Wheaton Precious Metals . . . . . . . . . . . . . . . . M12
Hormel Foods. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 GLOBAL HEAD, WEALTH & ASSET MANAGEMENT Sterling T. Shea Whirlpool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M5
Wix.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M9
I Inovio Pharmaceuticals . . . . . . . . . . . . . . . . . . . . 12 Barron’s is a trademark of Dow Jones and its affiliates. Barron’s (USPS 044-700) (ISSN 1077-8039) Published every Monday. Editorial and Publication
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Z Zebra Technologies . . . . . . . . . . . . . . . . . . . . . . . . 14
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ZTE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
May 18, 2020 BARRON’S 5

UP & D OWN WALL STREET


China is viewed with antipathy by Republicans
and Democrats alike in this election year, notes
Greg Valliere of AGF Investments.

As Rays of Hope Pierce


funds futures are priced as if the Fed ment with respect to the global spread”
is about to take the plunge into nega- of the coronavirus.
tive rates. Fed Chairman Jerome Pow- The campaign against such invest-
ell reiterated the central bank’s oppo- ment has been led by Sens. Marco

The Economic Clouds,


sition to that. But the market fixated Rubio, Republican of Florida, and
on his qualification that he didn’t fa- Jeanne Shaheen, Democrat of New
vor subzero rates “for now.” Hampshire.
The first motto of central bankers Indeed, China is viewed with antip-

China Tensions Flare


everywhere is never say never. That athy by Republicans and Democrats
said, negative interest rates haven’t alike in this election year, Greg Valliere,
done any favors for European or Japa- chief U.S. strategist for AGF Invest-
nese banks. In the U.S., negative short- ments, writes in a client note. “So dur-
term rates would devastate money- ing the campaign, there will be a com-
market mutual funds, which hold $4 petition to see who can be the most

T
trillion. They’d also hurt government anti-China,” he predicts.
he good news is that Elsewhere, the Empire State manu- units, banks, and corporations that An escalating trade war during
the bad news about facturing index, the first industrial fig- fund themselves in the money markets. what might be a depression? Haven’t
the U.S. economy ure of the month, came in better than At the same time, another big threat we seen this movie before? And didn’t
can’t get any worse. expected, meaning it showed a slower emerged, as U.S.-China tensions esca- we hate its ending?
With much of the rate of decline. Mortgage applications lated. The Commerce Department on

L
country shut down rose for the fourth straight week, but Friday curtailed Huawei Technologies’ ike the children of so many
during April, retail remained down from the tally a year access to semiconductors that use U.S. erstwhile empty-nesters, our
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sales suffered their biggest decline on earlier, while refinancing slowed, but technology. That led Global Times edi- kids are back, quarantining in
record, some 16.4%; producer and con- still was up 200%. Both benefited from tor Hu Xijin—widely seen as speaking the comforts of home. That
sumer prices plunged; and industrial By Randall W. lower interest rates. for Beijing—to tweet that China could includes our son, who is finishing his
production slid, all of which was con- Forsyth Yet the stock market lost ground for retaliate against U.S. companies, such freshman year at college via video
sistent with the month’s previously the third week in the past four, with as Qualcomm (ticker: QCOM), Cisco classes and online assignments, while
reported record rise in unemployment. the S&P 500 index shedding 2.26%. Systems (CSCO), Apple (AAPL), or taking advantage of an on-premises
Yet, as the economy was absorbing And despite the optimism implied by Boeing (BA). tutor for his introductory economics
those body blows, the stock market the S&P’s 27.99% recovery from its In addition, the Trump administra- course. What is surprising is how little
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

was vigorously rallying. At its apex, lows, the Treasury market still trades tion ordered the federal employee re- has changed since I took Econ 101.
the surge had added over 30% to the at historically low yields more consis- tirement fund not to invest in an index The Federal Reserve buys bonds,
major indexes from the lows reached tent with depression than recovery. that includes Chinese companies that, the money supply expands, unem-
on March 23. That seemingly out-of- In particular, the short end of the it warned, could be sanctioned for “cul- ployment falls, and inflation rises. The
sync move reflected two factors: the Treasury yield curve and federal- pable actions for the Chinese govern- government increases outlays or cuts
massive policy stimulus being applied taxes, and gross domestic product
to counter the economic effects of the expands according to some multiplier.
coronavirus pandemic, notably the Everything works mechanically, the
massive liquidity infusion by the Fed- textbooks indicate, as in some Newto-
eral Reserve, and the recovery antici- nian system—action and reaction.
pated as a result of these measures. But monetary policy now is going
Indeed, some parts of the country where it’s never gone before, to para-
are slowly reopening. And there are phrase the intro from the original Star
other glimmers of hope, as shown in Trek, a contemporary TV series when
Bleakley Advisory Group chief invest- I took basic economics. The Fed isn’t
ment officer Peter Boockvar’s weekly buying just Treasury and agency
tally of pluses and minuses. mortgage-backed securities, but also
Consumer confidence, as measured corporate debt through the bond mar-
Photograph by Michael Nagle/Bloomberg

by the University of Michigan, ticked ket and exchange-traded funds, in-


up in its preliminary May reading. cluding those that hold speculative-
Respondents’ views of current condi- grade debt.
tions improved, reversing about a While the U.S. This reflects the change in how
third of April’s drop, although their economy has credit works in the real world. Instead
been absorbing
outlook for the future worsened. Their body blows,
of Fed asset purchases putting more
inflation expectations also rose, to the stocks have reserves into the banks so they can
highest level since 2014, no doubt a rallied vigorously make loans, monetary policy now
from the lows
result of having to pay more for the they fell to works largely via the financial markets.
scarce goods on supermarket shelves. on March 23. Easier financial conditions—lower
6 BARRON’S May 18, 2020

Up & Down Wall Street Continued

interest rates and higher securities prices— Public-sector employees, who have

Elevate Your spur economic growth, former Fed Chair-


man Ben Bernanke explained when the
central bank began its second round of
quantitative easing after the financial crisis.
“For example, lower mortgage rates will
largely avoided layoffs, might be circum-
spect about their spending, owing to the
budget ax that hangs over them.
The coronavirus crisis has blown huge
holes in state and local government bud-

Portfolio
make housing more affordable and allow gets, slashing tax revenue while boosting
more homeowners to refinance. Lower needed expenditures. New York state, at
corporate bond rates will encourage in- the epicenter of the pandemic, estimates
vestment. And higher stock prices will that revenue will be $13.3 billion lower
boost consumer wealth and help increase than forecast in January. To help cover the
confidence, which can also spur spending. gap, Albany plans to cut nearly $8.2 billion

to the Cloud Increased spending will lead to higher


incomes and profits that, in a virtuous
circle, will further support economic
expansion,” he wrote in a Washington Post
in aid to local governments.
Citing those numbers no doubt raises the
vision of the famous New Yorker cartoon
depicting the locals’ myopic view of the map
op-ed in November 2010. of the U.S., with everything west of the
Since then, it has become apparent that Hudson occupying a tiny slice of the nation.
because monetary policy is transmitted There’s more to it, notes Walter J. Zim-
mainly through the markets, the most di- merman, ICAP’s sharp-eyed analyst, who
rect beneficiaries are holders of financial usually focuses on commodity trends. The
Cloud assets. The most dramatic manifestation of biggest concentration of Covid-19 cases is
the dichotomy this has caused is the 27.5% in regions accounting for the biggest
Computing ETF recovery of the S&P 500 index from its chunks of the nation’s GDP. The New
March 23 low, while 36.5 million Ameri- York–New Jersey metropolitan area, which

CLOU
cans have filed for unemployment insur- provides almost 10% of GDP, has had
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

ance in the past two months. nearly 500,000 coronavirus cases. And,
Powell, the current Fed chairman, not incidentally, the two states’ budget
seems acutely aware of this. In an appear- gaps are among the biggest.
ance at the Peterson Institute for Interna- Which is where federal fiscal policy
tional Economics this past week, he noted comes in. But this time, aid from Washing-
that 40% of households with incomes of ton doesn’t seem forthcoming, at least not
$40,000 or less suffered job losses in quickly, as with the Cares Act. The Demo-
March. The central bank has gone light cratic-controlled House of Representatives
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

years beyond what’s in elementary eco- was expected on Friday to approve a mas-
1 (888) 493-8631 nomics textbooks to combat the economic sive (even in these times) $3 trillion aid
GLOBALXETFS.COM slide, expanding its balance sheet by $2.6 package, including about $1 trillion for
trillion since early March to $6.9 trillion, state and local governments to cover their
including initial purchases of $305 million budgets. The measure will be dead on ar-
in corporate bond exchange-traded funds. rival in the Republican-controlled Senate.
But Powell emphasized that the Fed can The package appears to be a wish list
only lend money, not provide it to the for the Democrats, which the GOP has no
Beyond Ordinary ETFs TM

economy. That’s the job of fiscal policy, interest in granting. Meanwhile, layoffs
which is controlled by Congress, along hang in the balance for public-sector em-
Investing involves risk, including the possible loss of principal. The invest- with the executive branch. In a rare in- ployees of states and localities, which can’t
able universe of companies in which CLOU may invest may be limited. The stance of bipartisan cooperation, Treasury borrow without limit as the federal gov-
Fund invests in securities of companies engaged in Information Technology, Secretary Steven Mnuchin worked with ernment can. And any furloughs would
which can be affected by rapid product obsolescence and intense industry Democratic leadership in Congress to pro- have massive macro effects, since the states
competition. International investments may involve risk of capital loss from vide $2.9 trillion in prompt fiscal relief, in the most dire fiscal straits have outsize
unfavorable fluctuation in currency values, from differences in generally ac- equal to 14% of GDP. But the Fed chief has impacts on the national economy.
cepted accounting principles or from social, economic or political instability emphasized that more is needed. Economic policies ultimately are politi-
in other nations. CLOU is non-diversified. Negative interest rates aren’t the an- cal, especially in an election year, even
swer, he adds. And the other monetary though that’s not what the textbooks say.
Carefully consider the Fund’s investment objectives, risk factors, charges measures mainly serve to buy time until But I recall vividly the New York City fis-
and expenses before investing. This and additional information can be the threat from the virus retreats suffi- cal crisis of the 1970s. Then, the refusal to
found in the Fund’s full or summary prospectus, which are available at ciently to allow the economy to reopen. help the Big Apple was summed up in the
globalxetfs.com. Read the prospectus carefully before investing. That’s happening in some states, ready classic Daily News headline, “Ford to City:
or not. But if bars, restaurants, and stores Drop Dead.” Present incumbents might
Shares of ETFs are bought and sold at market price (not NAV) and are not reopen, will customers come? Even if they consider how this may have affected the
individually redeemed from the Fund. Brokerage commissions will reduce think it’s safe, will they be willing to spend, re-election efforts of that era’s president. B
returns. Distributed by SEI Investments Distribution Co. let alone splurge, on anything other than
necessities if their jobs aren’t secure? email: randall.forsyth@barrons.com
May 18, 2020 BARRON’S 7

ST R E E T W I S E
Clearly, no part of traditional television, including
ratings or cash flow, is turning investors on right
now. They only have eyes for streaming.

Streaming Booms,
bringing to the market, including a negotiating higher fees per subscriber,
very significant change this summer. but that magic trick can’t last forever.
And I think people are starting to Rising fees from the likes of YouTube
say, ‘OK, wait a minute, this is pretty TV will help.

Cable Fades: The


interesting.’ ” Then again, by the time I add up
The “change this summer” is a broadband-only service from my ca-
planned overhaul of CBS All Access, ble company, a streaming service for
adding Viacom shows and a catalog of live channels, and a few on-demand

Case for ViacomCBS


films from the company’s Paramount services like Netflix, I’m not far from
studio, plus live news and sports. The the cost of a cable bundle. Maybe ca-
“differentiated” part refers to how ble TV will stay in the picture, or
Pluto and the rebranded pay service maybe it will die over decades—Ap-
will play off each other. Streaming is ple (AAPL) launched its first iPod
getting crowded. Cord-cutters can’t all music player more than 18 years ago,

I
be expected to subscribe to Netflix, but Best Buy (BBY) and Target
’ve been stuck at home for two 2023. TV, meanwhile, is a perennial Disney+, the new ViacomCBS service, (TGT) didn’t stop selling compact
months, and at no point has cash-valanche. Even amid an advertis- and the forthcoming HBO Max and discs until two years ago.
Knight Rider beckoned from ing slump this year, ViacomCBS could Peacock services. There could be

P
channel 1048. I’m starting to generate $1.4 billion in free cash. plenty of steam-hopping. Pluto, with lenty of challenges remain for
wonder why I pay for my ca- Clearly, no part of traditional TV, in- more than 250 channels of shows, ViacomCBS. It ended last
ble company’s top television cluding ratings or cash flow, is turning provides the company with an oppor- quarter with $18 billion in
bundle—or any bundle. Ap- investors on. They only have eyes for tunity to pitch paid services and con- long-term debt, and it has a
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parently, the thought is occurring to streaming. tinue making advertising revenue hefty dividend payment. Recent yield:
other pandemic homebodies. Cable So it was more interesting that from paying subscribers who cancel. 5.7%. That doesn’t leave a lot of room
cord-cutting accelerated a bit during By Jack Hough ViacomCBS hit 13.5 million paid If I do cancel my cable bundle, I for more things to go wrong. Cost sav-
the first quarter. Growth soared for streaming subscribers in the first might want a streaming service for ings and asset sales from the merger
streaming services that bypass cable quarter, up 50% from a year earlier. live channels like YouTube TV. That will help, but with many Manhattan
bundles. That includes CBS All Access and gives me the major networks and the offices empty, a planned sale of the
That should be bad news for bat- Showtime OTT—for viewers who cable essentials—business and golf. I former CBS headquarters, which was
tered ViacomCBS (ticker: VIAC), want Showtime but who don’t have try to stay away from general cable expected to bring in more than $1 bil-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

which is much more of a TV pure play cable bundles. Add to that Pluto TV, news, but if Mothra attacks Godzilla lion, is on hold.
than conglomerates Walt Disney which is free and makes money on in Yellowstone National Park, I’ll be Long term, however, making
(DIS) and Comcast (CMCSA). So why advertising. There, monthly average able to watch the aerial footage, and money isn’t ViacomCBS’s problem. Its
did ViacomCBS shares jump more users jumped 55% to 24 million. either hear the one channel explain problem is that stock investors view
than 20% over two days after the com- Those numbers might not compare why President Trump is to blame, or TV as a dying business. If the pan-
pany reported first-quarter financial favorably with Netflix’s global empire the other one examine whether Mo- demic continues to spur faster stream-
results earlier this month? of 182 million subscribers, or Disney’s thra is an Obama operative. ing growth, it might help the company
Ratings are decent—but I’m pretty more than 90 million across Disney+, It’s a good sign that ViacomCBS this win over more fans on Wall Street.
sure investors don’t care. CBS has been Hulu, and ESPN+. But the growth month renewed its deal to include CBS Barrington Research analyst James
the most-watched TV network for 12 seems to have surprised investors. on YouTube TV, and got legacy Viacom Goss upgraded the stock to Outper-
straight years. It merged last year with “I think people heard the 13.5 mil- channels added. TV companies make a form from Market Perform this month
Viacom, which has Nickelodeon, Com- lion paid subscribers,” says Bakish. lot of their money from fees from cable based partly on streaming gains, writ-
edy Central, MTV, and BET. CEO Bob “They now understand the differenti- bundlers. For now, they are able to ing that they “fuel optimism that the
Bakish told me this past week about ated offering that we’re going to be offset falling cable subscriptions by seeds of growth for the merged entity
promising trends involving terms like are taking root more quickly than we
“dayparts” and “18 to 34s.” But widen were envisioning.”
the lens: Netflix (NFLX) is valued by Goss reckons shares can hit $30 in a
the stock market at $190 billion, and BARRONS.COM/PODCASTS year, which would be a 75% gain from
ViacomCBS, just $11 billion. That’s recent levels. We’ll see. The target price
despite Wall Street expecting Viacom-
CBS to bring in $25 billion in revenue
this year, about $1 billion more than
Barron’s Streetwise works out to a 7.5 “EV/Ebitda” ratio.
That’s enterprise value, or stock value
adjusted for debt and cash, relative to
Netflix. In a new weekly podcast by Barron’s, columnist Jack Hough next year’s projected earnings before
Streaming is still in its early days, looks at the companies, people, and trends you should be interest, taxes, depreciation, and amor-
and not especially profitable, so Net- watching. This is Wall Street like you’ve never heard before. tization—suddenly dayparts and 18 to
flix is projected to burn through more Subscribe to Barron’s Streetwise on Spotify, Apple Podcasts, 34s don’t sound so confusing. B
than $1 billion in cash this year and or your favorite listening app.
not generate positive free cash until email: jack.hough@barrons.com
8 BARRON’S May 18, 2020

R E VIEW 23,685.42
Dow Industrials: -645.90
364.26
Dow Global Index: -9.48
0.64%
10-year treasury note: -0.04

Don’t Look Back HE SAID


Volatility re-emerged as doubts about
reopenings and recoveries set in. “The path ahead
Stocks opened mixed. Two government
authorities then provided sobering is both highly
outlooks. Infectious disease czar Dr.
Anthony Fauci said what everyone uncertain and
knew he’d say: Quick reopenings were
risky. And Federal Reserve Chairman subject to
Jerome Powell sketched a damaged
economy in need of more fiscal stimu- significant
lus. Grim data, meanwhile, kept com-
ing. On Thursday, three million more
downside risk.”
workers sought jobless benefits. (The Federal Reserve Chairman Jerome Powell
good news: It was below the prior
week.) On Friday, April retail sales
crashed 16.4%. For the week, the Dow
industrials lost 2.7%, to 23,685.42; the
VALUATION IN A CRISIS S&P 500 shed 2.3%, to 2863.70; and
the Nasdaq Composite fell 1.2%, to

Are Stocks THE NUMBERS


9014.56.

The 50-State Herd


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Too Pricey? 33%


Percentage of workers in Ken-
The U.S. death toll passed 85,000.
Aides to President Trump and Vice
President Pence tested positive for
Covid-19, and the three top health
tucky who have applied for officials all entered voluntary isola- Trump’s financial information and
Covid-19 has pulverized 2020 earnings estimates, but unemployment, the highest in tion; White House staff were told to whether the Manhattan district attorney
stocks are up a third from March lows. Falling earnings the U.S. don masks—except for Trump and could investigate him and his businesses.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

13.2%
and rising stock prices mean that S&P 500 valuations Pence. New York Gov. Andrew Cuomo The justices seemed skeptical of the White
are approaching nosebleed levels. Whether that’s a prob- introduced a four-phase reopening, to House claim of temporary absolute immu-
lem requires knowing some valuation tricks of the trade. begin on May 15. While the pandemic nity, but concerned over congressional
On Wall Street, acronyms can confuse, but they’re un- ebbed in the Northeast, hot spots “harassment” of the presidency.
avoidable. Take P/E, or price/earnings ratio, which com- Percentage loss in public pen- flared across the U.S., even as more
pares a stock price to per-share earnings. The S&P 500’s sion funds over the past three states reopened, voluntarily or not. Dangling Flynn
P/E ratio has averaged 15 to 16 for decades; it’s now above months, worse than 2008. The Wisconsin Supreme Court struck A federal judge appointed a retired judge

$23 B
20 times estimated 2020 earnings. If earnings keep fall- down the state’s lockdown order, and to make the case against the Justice De-
ing, it could top levels last seen after the dot-com bubble. bars reopened. Based on China’s expe- partment’s sudden and surprising dis-
True, 2020 earnings might be outliers. The market is rience, economists increasingly pre- missal of the case against former national
more modestly valued against 2021 earnings, at 17 times dicted a “swoosh” recovery: a fast fall security adviser Michael Flynn, and to

Illustration by Elias Stein; Photograph by Andrew Harrer/Bloomberg


estimated S&P earnings of $163. That’s historically high, Assets in 1995 when PNC bought and a slow rise. look into a possible contempt charge
but falling interest rates tend to lift P/E ratios. The 10-year its BlackRock stake. The firm against him. Flynn lied to the FBI about
Treasury bond yields less than 1%, from 2.4% a year ago. now has $6.5 trillion in assets. Musk Versus California contacts with Russia, then pleaded guilty,
Tesla sued local authorities in Califor-

4,834
When earnings are in flux, investors often look at the only to have the Justice Department drop
price-to-sales ratio, or P/S. Sales are less volatile than nia in an attempt to restart its Fremont the case, arguing that the FBI had no “ma-
earnings, and it’s useful when profit margins are de- factory, with CEO Elon Musk threaten- terial” reason to question him.
pressed. The market is trading for about two-times sales, ing to leave the state. “I will be on the
up from one times in the financial crisis. That’s relatively Boeing’s back order of planes, line like everyone else,” Musk tweeted. Annals of Deal-Making
high, but the same point about rates applies here. the lowest since 2013. Boeing “If anyone is arrested, I ask that it only Discount retailer Stage Stores and satel-
One fallout from the pandemic is higher debt. With got no new orders in April and be me.” Trump tweeted his support. lite operator Intelsat filed for bankruptcy,
highly leveraged companies, investors use enterprise delivered only six planes. Alameda County, with 2,000 Covid-19 as did retail giant J.C. Penney …PNC
value, or EV, which is market capitalization plus net debt, cases, and Tesla then agreed on safety Financial Services Group sold its 22.4%
compared with Ebitda, or earnings before interest, taxes, To get Numbers by Barron’s precautions, and the plant restarted. stake in BlackRock for $14.4 billion. The
depreciation, and amortization. Ebitda is a proxy for cash daily, sign up wherever bank bought the stake in 1995 from Black-
flow—the money companies have to buy equipment, fund you listen to podcasts or at Trump and the Supremes stone’s Stephen Schwarzman ...Uber
dividends, and support debt. In tough times, cash is king. Barrons.com/podcasts The Supreme Court held arguments Technologies is reportedly talking to
— Al Root over Congress’ ability to subpoena Grubhub about a $6 billion takeover.
May 18, 2020 BARRON’S 9

P R EV IEW Monday The World Health Organization holds its 73rd World Sign up for the Review &
Health Assembly. The 194 member states of the WHO Preview daily newsletter at
will discuss the Covid-19 pandemic response during the two-day meeting. Barrons.com/reviewpreview

Monday 5/18 Hormel Foods, Intuit, Medtronic,


Nvidia, Ross Stores, and TJX Cos.
Baidu reports first-quarter results. hold conference calls to discuss
earnings.
The National Association of Home
Builders releases its NAHB/Wells Harley-Davidson, McDonald’s,
Fargo Housing Market Index for May. Morgan Stanley, and Southwest
Consensus estimates are for a 34.5 Airlines hold their annual meetings
reading, up from April’s 30 figure. The of shareholders.
April reading was the first below 50
since 2014, and the lowest since 2012, The Conference Board releases its
when the industry was recovering from Leading Economic Index for April.
the housing crash. Expectations are for a 5.7% decline, to a
98 reading. March’s 6.7% drop was the
steepest on record in the index’s 60-
Tuesday 5/19 year history.

Advance Auto Parts, Home Depot, IHS Markit releases its Composite
DIY COVID-19 DIAGNOSTICS and Walmart report earnings. Purchasing Managers’ Index for May.
Consensus estimates are for a 34.3

Amazon’s Test A Healthy Business


Amazon.com shares have climbed
Amgen, Chipotle Mexican Grill,
Halliburton, and JPMorgan Chase
reading, rebounding from April’s 27
figure. Both numbers are well below
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since the U.S. went into lockdown hold their annual meetings of the expansionary level of 50.
shareholders.

Challenge
in mid-March.
The National Association of Realtors
Amazon.com shares year to date The Census Bureau reports new reports existing-home sales for April.
$2,500 residential construction data for Economists forecast sales plummeting
April. Economists forecast a season- 18.4% to a seasonally adjusted annual
Amazon.com has successfully invaded many different busi- ally adjusted annual rate of 919,000 rate of 4.3 million. This follows on the
nesses—but Covid-19 testing? The company said during its 2,250 housing starts, a precipitous decline heels of an 8.5% drop in March.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

recent earnings call that it expects to spend $4 billion or from March’s 1.2 million. New build-
more in the second quarter responding to the pandemic. ing permits are expected to decline
Among other things, it is spending “hundreds of millions to
2,000
25%, to a seasonally adjusted annual Friday 5/22
develop our own Covid-19 testing capabilities.” rate of 1 million. Housing starts were
This news has Morgan Stanley analyst Brian Nowak won- 1,750 last below 925,000 in early 2015. Alibaba Group Holding and Deere
dering if Amazon might evolve into a major Covid-19 testing report quarterly results.
player. “We believe the goal is to create Covid-19 testing sta-
tions that Amazon employees can pass through on a daily 1,500
Wednesday 5/20
basis,” Nowak writes in a note. “Amazon expects to spend $1 Jan. ’20 March May Coming Earnings
billion on this initiative between April and the end of 2020.” Analog Devices, Expedia Group, Consensus Estimate Year ago

Nowak believes Amazon will work on a rapid saliva test. Test Results Lowe’s, McKesson, Synopsys, Take- M
Apple Hospitality (Q1) 0.25 0.38
He’s upbeat, despite many unmet promises around testing Covid-19 testing has improved in the Two Interactive Software, and Tar- T
and Amazon’s lack of experience. He ticks off three chal- U.S. but still trails global leaders. get report quarterly results. Advanced Auto Parts (Q1) 1.78 2.46
lenges, which, he says, play to its strengths. One is supply The Home Depot (Q1) 2.27 2.27
Covid-19 tests on May 11
chain. “The tests will need to be produced in massive quanti- per 1,000 people Molson Coors Beverage, Northrop Walmart (Q1) 1.14 1.13
W
ties and manufacturing capacity built quickly,” he writes. Grumman, United Airlines Hold-
0 20 40 60 Analog Devices (Q2) 1.04 1.36
The second is optimization of a test likely to struggle with ings, and Zoetis hold their annual Expedia (Q1) -1.20 -0.27
efficiency and accuracy. The third is capital; Amazon is flush. Denmark shareholder meetings. More Earnings on Page 32.
Why would Amazon want to get into testing? Nowak,
who has an Overweight rating and a $2,600 target price for
New Zealand
The Federal Open Market Commit- Consensus Estimate
Day Consensus Est Last Period
the stock, argues that employee and customer safety could Canada tee releases the minutes from its mone-
M May NAHB Housing Market 34.5 30.0
become a competitive edge in e-commerce. “The potential tary policy meeting in late April. T April Housing Starts -32.7% -22.3%
United States
public goodwill created through [sharing] this cannot be TH April Existing Home Sales 4,300,000 5,270,000
valued, and in a world where tech regulation is a recurring April Leading Indicators -5.7% -6.7%
topic, could be a game changer,” he writes.
Italy
Thursday 5/21 Unless otherwise indicated, times are Eastern. a-Advanced;
f-Final; p-Preliminary; r-Revised Source: FactSet
Elias Stein

Amazon itself is playing things down. “We’re not sure South Korea
For more information about coming economic reports
how far we will get in the relevant time frame, but we think Agilent Technologies, Best Buy, - and what they mean - go to Barron’s free Economic
it’s worth trying,” Amazon said. — Eric J. Savitz Sources: FactSet; ourworldindata.org Hewlett Packard Enterprise, Calendar at www.barrons.com
10 BARRON’S May 18, 2020

F O L LOW U P

Newly Flush PNC Could Kick Off

OUTSTEER. The Next Round of Bank M&A


BY CARLETON ENGLISH pany has a history of buying other banks in
periods of stress. “PNC gains a war chest to

C
oronavirus looked like it would delay purchase distressed assets,” he says.
ACTIVE INVESTMENT MANAGEMENT ACROSS a bank merger spree. One financial
transaction last week might have
Jennifer Demba, an analyst at SunTrust
Robinson Humphrey, said in a note on
PUBLIC AND PRIVATE MARKETS GLOBALLY. given it a kick start.
PNC Financial Group (ticker: PNC) said
Wednesday that PNC might look to make
acquisitions in the Sunbelt. The region,
on Monday it would sell its 22.4% stake in known for low taxes, has seen an influx of
BlackRock (BLK), held since 1995. By Fri- residents from congested northeastern cit-
day the bank closed the sale of 31.6 million ies. Banks in the Southeast generally have
shares at $420 a share, netting PNC some strong deposit bases and some also have
Navigating volatility for market-leading opportunities to generate alpha* $14.4 billion. fee-earning wealth-management opera-
Managing risk with a controlled framework, stress-tested for resiliency What will the bank holding company do tions, providing revenue diversification.
with that cash? CEO William Demchak Topping her list of possible PNC targets
Diversifying client porfolios with solutions across asset classes said the sale would leave PNC “well-posi- are Regions Financial (RF), Synovus
tioned to take advantage of potential invest- Financial (SNV), and BankUnited (BKU),
ment opportunities that history has shown since she believes PNC would be interested
can arise in disrupted markets.” In other in larger institutions. She said targets out-
words: Time to go shopping. side the region could include Pittsburgh’s
Looking beyond short-term volatility with a long-term
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Barron’s predicted a wave of bank mergers F.N.B. (FNB) and Fulton Financial
perspective is critical today. PGIM’s active approach and acquisitions a week ago, and our thesis (FULT), based in Lancaster, Pa.
to investing is designed to pursue a broad range of stands: Banks need to get bigger to compete A possible Goldman Sachs (ticker: GS)/
in today’s world, and the coronavirus pan- Wells Fargo (WFC) combo was the talk of
opportunities created by the current environment.
demic will only accelerate the process. Wall Street Thursday, based on a report by
Deep expertise across asset classes has propelled Closed branches mean smaller banks have to Fox Business noting companies could con-
our rise to a Top 5** manager in fixed income, ramp up their digital capabilities, while sider easing their New York City footprint,
real estate, alternatives and emerging markets. lower interest rates are pressuring the indus- and their exposure to cities generally, in
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

try’s net interest income. With many banks light of new social-distancing guidelines.
Find out more at PGIM.com now trading below book value, it’s a good A Fox reporter also mentioned that
time for prospective buyers to kick the tires. Goldman, itching to boost its retail pres-
PNC has been positioned as a potential ence, may be looking to merge with Wells
winner during the crisis. Mike Mayo, at Fargo. PNC was also listed as a possibility
Wells Fargo Securities, calls it the “Bank of for a Goldman Sachs tie-up.
Steel,” and notes the Pittsburgh-based com- Our take: Both pairings are unlikely. B

interest, taxes, depreciation, and amortiza-


Cruise Lines’ Borrowing tion of about two times, according to FactSet.
Binge Adds to Stresses Royal Caribbean’s ratio was 3.5 times, and
that of Norwegian Cruise Line Holdings
FIXED INCOME | EQUITIES | REAL ESTATE | ALTERNATIVES | PRIVATE CREDIT | QUANT SOLUTIONS (NCLH), 3.8 times. Net debt-to-Ebitda ratios
BY LAWRENCE C. STRAUSS will increase significantly when sailings re-
sume, partly because industry earnings are

W
*Alpha indicates the performance, positive or negative, of an investment when compared against an appropriate
standard, typically a group of investments known as a market index. hen cruise companies resume likely to be depressed for some time.
**Pensions & Investments’ Top Money Managers list, May 27, 2019. Pensions & Investments Real Estate operations after the coronavi- This past week Moody’s lowered its rat-
Manager Survey, September 2019. Based on worldwide real estate AUM as of December 31, 2018. Willis Towers rus threat subsides, the debt ing on Royal Caribbean Cruises’ (RCL)
Watson’s Global Alternatives Survey, July 2017. AUM as of December 2016. Ranking is based on the aggregate
AUM aggregated by parent company in all alternative assets classes, regardless of sub-asset class.
they added to navigate the cri- senior unsecured debt to junk status from
© 2020 Prudential Financial, Inc. (PFI) and its related entities. PGIM, Inc., is the principal asset management sis will slow their return to health. Their chal- the low end of investment grade, a sign of
business of PFI and is a registered investment advisor with the U.S. Securities and Exchange Commission. PGIM lenges will include paying higher coupons, in growing concerns about the industry’s
is a trading name of PGIM, Inc. and its global subsidiaries. The PGIM logo and the Rock symbol are service marks some cases double digits, on the billions of challenges and rise in borrowing. Norwe-
of PFI and its related entities, registered in many jurisdictions worldwide. debt they raised. gian recently issued $675 million of senior
At the end of its latest fiscal year, Carnival secured notes with a coupon of 12.25%.
(ticker: CCL) had net debt to earnings before That’s a steep price to stay afloat. B
May 18, 2020 BARRON’S 11
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Front-Runners Start
E
ven as some states move to ease the lockdowns that have cost tens of
millions of jobs and tipped the economy into recession, a safe return
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

to normal life without a widely available Covid-19 vaccine is looking


more difficult.
In South Korea and Germany, countries that were among the
most effective at controlling initial outbreaks of Covid-19, rollbacks

To Emerge in Race
of lockdowns have been stymied by new flare-ups. As long as the
virus lurks in people’s throats and on elevator panels, doorknobs, and sub-
way-car poles, it is hard to see how the American economy can fully reopen.
More than 100 different programs are now under way seeking to develop
a Covid-19 vaccine. Most will fail. Understanding which ones among the pack
have the best shot at working well enough, and being distributed widely

For Covid-19 Vaccine


enough, to rein in the coronavirus is crucial to predicting what social and
economic life could be like over the next few years.
As such, progress and setbacks in the vaccine race will drive the prices of
stocks far beyond the pharmaceutical sector. The hair-trigger sensitivity of
investors to Covid-19 developments was illustrated one day in April, when
the S&P 500 climbed 2.7% after Gilead Sciences (ticker: GILD) announced
that its antiviral remdesivir had benefited Covid-19 patients in a trial, even
Some drugmakers are pursuing new, relatively unproven vaccine- though the benefit was quite small. Over the coming year, news of steps to-
ward a vaccine will move markets, perhaps even more than is rational.
development techniques that promise extraordinary speed, while others
For now, it is too early for investors to pick winners and losers among the
are using more proven methods that will be slower to come to market. programs. Only animal data is available so far, and only for some of the pro-
grams. What’s more, many of the major players, including GlaxoSmith-
A robust reopened economy rides on their success. Kline (GSK), Johnson & Johnson (JNJ), and AstraZeneca (AZN), say they
will not seek a profit on any Covid-19 vaccine during the pandemic.
But the vaccine race does offer an opportunity for investors to make a call
on the future of the global vaccine business. Vaccines drive substantial, reli-
By JOSH NATHAN-KAZIS able revenue streams for companies like Sanofi (SNY), which sold $2.1 billion
I L LU S T R AT I O N B Y A N D Y P O T T S of flu vaccines alone in 2019, and GlaxoSmithKline, which sold $2.4 billion of
12 BARRON’S May 18, 2020

its shingles vaccine that year. Those 85 different vaccines out of thousands citement over Moderna’s experimental Pfizer’s chief scientific officer, Mi-
with the first widely available
“You need of pharmaceuticals. And of the known vaccine has lifted the biotech com- kael Dolsten, says that by October, the
Covid-19 vaccines will prove the supe- to use tools, infectious diseases around the world, pany’s shares some 220% this year. company will have dosed up to 8,000
riority of their science, manufacturing, only 25 are considered to be vaccine- Moderna dosed its first patient in a people with the vaccine, and will have
and technology on a global stage.
weapons preventable. The bar for approval is Phase 1 safety trial on March 16, and millions of doses ready for emergency
For an established company like to fight an high. Vaccines take a decade of testing says it expects to begin a 600-subject use by front-line workers, or for high-
Pfizer (PFE), which has spent the
past few years rebuilding its research
enemy that’s on average. The world doesn’t have
that long to wait.
Phase 2 trial soon, and a Phase 3
study early this summer.
risk people in hard-hit areas. The
company says it will make hundreds
and development operation, it would fast moving. Moderna expects to submit the of millions of doses in 2021.
be the strongest-possible proof that its It doesn’t The Hares vaccine for FDA approval in 2021, but Pfizer picked an mRNA-based vac-
strategy is working. For the biotech Vaccines work by showing the body’s its CEO, Stéphane Bancel, has said cine because it wanted something
Moderna (MRNA), it would help vali- help you to immune system a safe version of a that if there is positive data this sum- ready if a second wave of Covid-19 hits
date the company’s long list of experi- come with a specific pathogen, or a piece of that mer, the company could seek emer- this fall, Dolsten says. “The idea was,
mental products, all of which rely on pathogen, so that the body’s natural gency-use authorization to distribute we cannot afford to not have a vaccine
the same relatively unproven technol- technology defenses can be ready to fight off the it in the fall. that could start being used at some
ogy as its Covid-19 vaccine. where real thing. “If we can be helpful, we of course extent...this fall, when we get a combi-
There are, however, serious risks. The fastest Covid-19 vaccine pro- want to be helpful,” Bancel told Bar- nation of a flu and a Covid comeback
Shares of smaller biotechs like Mod- you’re grams are trying to make pieces of ron’s in mid-April. “It would be some- in some areas,” he says.
erna, Novavax (NVAX), and Inovio always a SARS-CoV-2, the virus that causes thing that the FDA would have to de- Dolsten acknowledges that no
Pharmaceuticals (INO) have surged Covid-19, inside of your body, rather fine very clearly—who they think mRNA-based vaccine has ever been
on enthusiasm for their Covid-19 vac- step than in the lab. Moderna, Pfizer, and there is a good risk-reward ratio to approved by regulators. But he says
cine programs, despite the companies behind.” others do that with a molecule called potentially be exposed to the vaccine.” that companies like Moderna and
having no marketed products. Those messenger RNA, which normally The FDA can issue emergency-use BioNTech have been working on
Mikael Dolsten,
stocks face steep drops if their Pfizer’s chief brings instructions from a cell’s DNA authorizations during public health mRNA for years. And he argues that
Covid-19 vaccines fall through. scientific officer to its protein factories. crises to allow the use of unapproved the flexibility and speed of the ap-
Covid-19 vaccine programs gener- Johnson & Johnson, and an Oxford medical products. Gilead’s remdesivir proach, and the ability to quickly tweak
ally follow one of two broad strategies. University program collaborating with received an authorization in May. the vaccine if the virus mutates, make it
Some have picked new, relatively un- AstraZeneca, are doing it with a non- Moderna says it aims to produce a better option for a pandemic than the
proven vaccine technologies that replicating virus similar to the cause one billion doses of its vaccine a year, more traditional approach being used
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promise extraordinary speed. of the common cold, which transports and will be able to produce millions of by Sanofi and GlaxoSmithKline.
Call them the hares: They include SARS-CoV-2 DNA into your cells. doses a month later this year. “You need to use tools, weapons to
Moderna and Pfizer, which say they In both cases, your cells then create Pfizer, too, is aiming for the fall. It fight an enemy that’s fast moving,” he
could have a small number of doses certain proteins found on the virus, says that its Covid-19 vaccine could be says. “It doesn’t help you to come with
available for emergency workers and teaching your immune system to fight ready for emergency-use authorization a technology where you’re always a
high-risk groups as early as this fall. the virus. The techniques have been or accelerated approval by October. step behind.”
J&J, which is also using a newer tech- under development for years and, in The company is developing its mRNA The Johnson & Johnson effort,
nology, is aiming for early next year. some cases, manufactured on a large vaccine with BioNTech (BNTX) of meanwhile, though a bit slower than
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Others are using more proven scale. But the FDA has yet to approve Germany. While Moderna is testing a Pfizer’s, is perhaps the most proven of
methods that will be slower to come to a single vaccine based on them. single vaccine candidate, Pfizer has the faster Covid-19 vaccine programs.
market. The giant tortoise here is the Messenger RNA approaches appear bought four separate versions of its The technology, which employs an
collaboration between Sanofi and to promise the quickest results. Ex- vaccine into clinical trials. altered version of a cold virus called
GlaxoSmithKline. The partnership is
employing a well-established technol-
ogy that Sanofi uses in a flu vaccine, The Leading Candidates
but a product won’t be ready until More than 100 different programs are seeking to develop a Covid-19 vaccine. Here are some of the biggest and most promising efforts.
next summer.
“The greatest likelihood of success Developer / Ticker Vaccine type Status Target Manufacturing goal
is applying known and proven tech- Moderna / MRNA mRNA Phase 1 ongoing; Emergency authorization A billion doses per year
nologies,” says Dr. Geoffrey Porges, a Phase 2 beginning soon in the fall
senior analyst at SVB Leerink.
“They’ve been demonstrated to be Pfizer / PFE mRNA Phase 1 ongoing Emergency authorization Hundreds of millions
BioNTech / BNTX in October of doses in 2021
safe; they’ve been shown to be effec-
tive in other diseases. And those are Sanofi / SNY Adjuvanted recombinant Phase 1 to start in Approval in Up to 600 million doses
both pretty big validations.” GlaxoSmithKline / GSK subunit second half of 2020 mid-2021 by mid-2021
Although the programs using
Johnson & Johnson / JNJ Non-replicating Phase 1 to start Emergency authorization Hundreds of millions
newer technologies may have more to
viral vector by September in early 2021 of doses by 2Q 2021, a
prove, they are powerful wild cards. A
billion by the end of 2021
difference of nine months could mean
hundreds of thousands of lives. Oxford University Non-replicating Phase 1 ongoing No date set No goal set
Not all experts are certain that a AstraZeneca / AZN viral vector
Covid-19 vaccine can be ready soon.
Inovio Pharmaceuticals / INO DNA plasmid Phase 1 ongoing No date set A million doses in 2020
For all the hundreds of millions of
vaccine doses administered each year Novavax / NVAX Adjuvanted recombinant Phase 1 beginning Emergency authorization 100 million doses in 2020,
in the U.S., the Food and Drug Ad- nanoparticle in days by the end of 2020 a billion doses in 2021
ministration has approved only about Source: Company reports
May 18, 2020 BARRON’S 13

THE VALUE OF SOUND ADVICE


I AM VINCE LUMIA
Head of Field Management

As we navigate through unprecedented times,


having someone who can help make objective
decisions can be invaluable. Our Financial
Advisors, who have witnessed varying degrees
of complexity for nearly every scenario, can help
investors implement strategies to manage risk
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

and stay focused on long-term goals as a new


business cycle emerges.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

To watch Vince’s Morgan Stanley Minute on


"The Depth of Real Advice," go to morganstanley.com/depthofadvice.

© 2020 Morgan Stanley Smith Barney LLC. Member SIPC. CRC 3024569 04/20
14 BARRON’S May 18, 2020

Ad26, was used in an experimental


Ebola vaccine that has been given to
50,000 people. The vaccine has yet to
surface of the target virus, and then
injecting those proteins to induce an
immune response in the body. Flublok
No Covid Vaccine? These Companies
be approved by regulators, but cru-
cially, J&J has manufactured two mil-
lion doses of it, a key experience that
is approved by the FDA, and at least
10 million doses have been sold.
“It’s an established technology that
Sell Other ‘MissionCritical’Products
the mRNA developers cannot boast. has been shown to be able to make
Johnson & Johnson has also devel- vaccine very successfully,” says John
oped experimental Ad26 vaccines for Shiver, senior vice president of global As the U.S. economy begins to reopen, more people will return to the
Zika, HIV, and respiratory syncytial vaccine R&D at Sanofi Pasteur, factory and office. Giving up elastic-waist pants will be hard enough, but
virus. Overall, the company says it has Sanofi’s vaccine arm. Before joining
acclimating to new work protocols could be even more daunting, espe-
dosed more than 65,000 people with with GlaxoSmithKline, Sanofi worked
experimental Ad26-based vaccines. on the Covid-19 vaccine with a U.S. cially in the absence of widespread vaccine protection against Covid-19.
“There’s a fairly large database,” government office called the Biomedi- The coming challenges could create opportunities for investors, how-
says Dr. Dan Barouch, the scientist at cal Advanced Research and Develop-
the Ragon Institute who first con- ment Authority, which funds vaccine
ever, as companies specializing in cleaning supplies, thermal scanners,
structed Ad26 vectors, and who is development. and tracing technology find their products in growing demand. Ecolab
now collaborating with J&J on the “They knew that our platform al- (ticker: ECL), which sells sanitization products and services, has al-
Covid-19 vaccine. “Other leading ready worked and had been tested and
[Covid-19] vaccine modalities certainly validated, because we produce an in- ready seen its shares run up to lofty levels. FLIR Systems (FLIR), a
have less clinical experience, and less fluenza vaccine,” says Sanofi CEO specialist in temperature-sensing technologies, and Zebra Technolo-
experience with large-scale clinical Paul Hudson. “They came to us be- gies (ZBRA), famed for its bar-code scanners, still look like good bets.
trials, than the Ad26 platform.” cause they knew we would be a little
Johnson & Johnson plans to begin bit slower than, say, mRNA, but that “There are new problems to solve,” says Himanshu Khurana, chief
Phase 1 trials of the Covid-19 vaccine our probability of success was proba- technology officer for Honeywell’s (HON) building-solutions busi-
by September. The company aims to bly higher, and that we would be able
ness. He should know, as Honeywell supplies technology to about a
be ready for emergency-use authoriza- to produce it in large volumes.”
tion in early 2021, when it could have Now, Sanofi and GlaxoSmithKline quarter of the world’s nonresidential buildings. The company already
tens of millions of doses available for say they will start Phase 1 trials in the has noted heightened demand for its cameras and temperature-moni-
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health-care workers and possibly for second half of this year, and would be
high-risk individuals. J&J aims to have ready to submit the vaccine for full
toring systems.
produced hundreds of millions of approval by the middle of next year. Returning workers might find they have their temperatures taken au-
doses by the second quarter of 2021, Shiver says that 100 million to 600 tomatically as they enter buildings. Thermal scanners can also be run off
and more than a billion by the end of million doses will be ready by then,
that year. depending on a variety of factors. “In- tripods connected to laptops. More advanced systems can employ artifi-
Paul Stoffels, J&J’s chief scientific herently, it is an advantage to have a cial intelligence to make scanning less intrusive. Contact tracing likely is
officer, says his team is now preparing technology that has actually made coming, too, to help employers track who has been near any infected per-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

for the Phase 3 trial, which could in- product before,” Shiver says. “You do
clude 30,000 to 100,000 subjects not quickly produce that type of man- sonnel. And facilities will be sanitized more often than in the past.
before the end of the year. Stoffels says ufacturing capability.” Ecolab is an industrial-cleaning play. With many restaurants and
he isn’t concerned about competing Other companies are also working
other workplaces closed, the company could see earnings dip this
with other programs looking to re- on vaccines that use similar ap-
cruit subjects, given how widespread proaches. Novavax plans to begin a year before rebounding to $5.83 a share in 2021, about in line with
the virus is expected to be. But that Phase 1 trial this month of its Covid-19 2019 results. Yet the stock trades for 33 times earnings, a premium to
sort of recruitment effort could be vaccine and has received significant
harder if a Pfizer or Moderna vaccine funding from the Coalition for Epi-
its historical range. Baird analyst Andy Wittmann calls the company
is available in the fall. demic Preparedness Innovations. a high-quality growth stock, but his price target is $171, below Fri-
These vaccines remain a gamble. Novavax says that it is aiming for day’s $194.75.
Other, similarly novel programs are emergency-use authorization by year
under way from Inovio, the Oxford- end, by which time it says it could FLIR trades at a more modest 19 times estimated 2021 earnings of $2.28
AstraZeneca collaboration, and oth- have 100 million doses ready. a share, also on par with 2019 results. The company reported $100 million
ers. The good news is, if they flame Whichever company brings a vac- in new Covid-related bookings in the first quarter of 2020. That’s a lot for a
out, the tortoise won’t be far behind. cine to market first, it hopefully won’t
be the last. The first might not be the company that posted $1.9 billion in total sales over the past 12 months.
The Tortoise best, and many executives and scien- Zebra, which makes tracking equipment, could earn $13.71 a share
Sanofi and GlaxoSmithKline together tists involved in the race for a vaccine
next year, versus last year’s $12.94. “Location solutions...tracing con-
sell nearly two billion vaccine doses a say that making enough of it to inocu-
year. If any organizations in the world late the world is beyond the capability tact, this will be a new business for us,” CEO Anders Gustafsson tells
know how to get a lot of vaccine into a of even the largest drugmaker. Barron’s. That adds to Zebra’s business momentum in its other fran-
lot of bodies fast, it is these two. “We do need multiple vaccines to
Their alliance is built around the move forward, because we don’t know
chises. Jeff Kessler of Imperial Capital rates Zebra the equivalent of
technology that Sanofi uses to make at this point in time which are going to Buy, citing its leadership in mission-critical areas. His price target:
an influenza vaccine called Flublok. be the safest, the most effective, the $250. Shares recently fetched $220. —AL ROOT
The technique involves using insect most durable, and the most deploy-
cells to grow proteins found on the able,” Barouch says. B
May 18, 2020 BARRON’S 15

After the Lockdowns,


ever. When the country reopens, re- year. Include capital spending and soft-
tailers will lure shoppers from their ware development, and Wayfair’s nega-
homes with discounts and promo- tive free cash flow surged fourfold last
tions. Most analysts expect that Way- year, to minus $600 million.
fair’s sales spurt will then subside and Those losses tried the patience of

Wayfair May Tumble return the company to its cash-con-


suming ways for another year at least.
Today’s $20 billion enterprise valu-
ation is 1.2 times the sales and 170
times the operating cash flow pre-
bulls and confirmed the suspicions of
short sellers, whose negative bets
against Wayfair made it one of the 20
most-shorted stocks this year; the
number of shares sold short sur-
dicted for 2021 by the analysts FactSet passed a third of the stock’s free-
The stock of the online furniture seller surged ninefold as homebound consumers spiffed surveys. Wayfair’s sales multiple is trading float. From early 2019 to mid-
up their digs. Sales, and the shares, could fall sharply as traditional furniture stores reopen. smaller than rivals like Amazon, but March 2020, Wayfair stock sank from
most big e-commerce firms have real $170 to $22.
cash flow. A return to Wayfair’s aver- Bowing to the stock market voting
age price of 0.9 times forward sales machine, Shah vowed to improve
would drop the stock 25%. Wayfair’s efficiency and—on the call
Even a longtime bull like Oliver discussing year-end 2019 results—
Wintermantel at Evercore ISI decided announced plans to lay off 550 people
that the stock’s recent ninefold rise left from headquarters.
little upside. On Thursday, he cut his And then the virus hit. There’s
rating from Outperform to In Line. nothing lucky about the coronavirus’
Barron’s asked Wayfair to discuss toll, but Wayfair was well positioned
its prospects, but the company said it to meet a swell of demand when the
won’t talk until after reporting this pandemic shuttered furniture stores
quarter’s results in August. and left housebound consumers with
few obvious alternatives for outfitting

W
ayfair is one of the easiest home offices and feathering the nests
places to shop for furniture they now occupy 24 hours-a-day with
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and home goods, with five their partners and children.


distinctly branded websites First-quarter sales rose 20%, to $2.3
that offer 18 million products from thou- billion. Analysts expect that sales could
sands of suppliers. Its apps are state-of- reach $3.8 billion in the June quarter,
the art. Customers can search for a desk with “adjusted” earnings of about 60
or coffee table using a photo —not just a cents a share. In addition to better le-
text description—and then use an “aug- veraging its overhead, the online seller
mented reality” feature to see how prod- can enhance profits by demanding bet-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

ucts would look in their home. A net- ter terms from suppliers who’ve lost
work of warehouses and trucks delivers orders from retail stores. Lower adver-
many orders in two days. tising costs also ease Wayfair’s consid-
CEO Shah and his co-founder, Steve erable customer-acquisition expenses.
By BILL ALPERT were rising at more than double their No Place Conine, started selling furniture online The direction of Wayfair’s stock now
earlier high-teens percentage rate. By in 2002. Wayfair’s revenue grew at a depends on what happens after the
Like Home

I
the time Wayfair (ticker: W) reported better-than 40% annual rate for much second quarter. Most analysts predict
Wayfair’s stock
n the grip of the pandemic, cer- first-quarter results on May 5, it said of the past decade, rising from about that revenues will fall back and losses
soared as the
tain stocks hold our highest that sales were growing at roughly $250 million in 2009 to $9.1 billion in will resume in the quarters after June.
homebound
hopes. Moderna is up threefold 90%—faster than any other e-com- 2019. It now commands nearly a quar- The company has told analysts that
ordered furniture
because the biotech may have a merce firm’s growth. Amazon.com ter of the online market for home annual sales growth of 20% for the next
online.
vaccine to put an end to (AMZN) expects to grow 18% to 28% goods. few years should allow it to reach a
Covid-19. Teladoc has doubled, this quarter. W • NYSE The company has had a harder time positive Ebitda margin of 8% or more.
with its distance doctoring. “Millions of new customers $200
proving that it can make money on Like most of Wall Street, J.P. Mor-
Then there’s Wayfair, the online site shopped at Wayfair over the last sev- those sales. While Wayfair revenues gan analyst Christopher Horvers was
for buying accent chairs and area eral weeks,” said co-founder and chief grew by a third in 2019, its net loss dou- blindsided by the recent surge in Way-
rugs. Its stock shot up from $22, to executive Niraj Shah on the earnings 150 bled to $985 million, or $10.68 a share. fair’s sales and, of course, its stock. So
$197, since mid-March, before settling call. Wayfair expects to report its first Like most public companies these days, he raised his price target from $63 to
back to a recent $175. cash profit from operations (excluding Wayfair likes to direct investors to mea- $135, but maintained an Underweight
Before lockdowns shuttered most certain standard accounting charges) 100 sures of cash flow that omit expenses rating. “[W]e believe management’s
of Wayfair’s competition and trapped in its June quarter—more than a year otherwise counted under generally expectation of a sustainable 20% reve-
Americans in front of their computer ahead of expectations. The stock hit accepted accounting principles. Any nue growth and upside to long-term
50
screens, the Boston-based company an all-time high a few days later. way you look at it, however, the busi- margin targets based on about two
was a fast-growing but cash-consum- Most businesses can expect sales to ness burned cash. Its “adjusted” earn- months of performance is premature,”
ing e-commerce pioneer that few ex- improve when lockdowns end. Way- ings before interest, taxes, depreciation, wrote Horvers in a recent note.
Ryan Inzana

0
pected to reach anyone’s definition of fair is the odd case where sales may and amortization, or Ebitda, were nega- Wayfair stock is trading as if its
profitability before 2022. Then, in turn down. Bricks-and-mortar furni- Jan. March May tive $500 million in 2019—more than pandemic profits will continue.
April, it alerted investors that sales ture stores won’t remain closed for- Source: FactSet double the negative number of the prior There’s room for disappointment. B
16 BARRON’S May 18, 2020

John Malone’s Empire


Gets Knocked Around
a 33% stake in Live Nation Enter-
Covid-19 has hurt businesses like tainment (LYV), the leading concert
the Atlanta Braves, Formula One, promoter. Its shares trade around $31,
and Live Nation. Investors can now versus an estimated net asset value
near $50.
buy in on the cheap. Investors in Liberty Sirius are ef-
fectively buying Sirius, the satellite
radio leader with 35 million subscrib-
By ANDREW BARY ers and strong free cash flow, at just

J
above $3 a share, against Sirius’s mar-
ohn Malone has hit plenty of ket price of $5.30, says James Ratcliffe,
investing home runs for himself an analyst at Evercore ISI.
and fellow shareholders over “Sirius is relatively immune from
the years. the pandemic,” says Robert Routh, an
Now, his media and cable FBN Securities analyst who likes both
empire, which includes the At- Sirius and Liberty Sirius. While new-
lanta Braves baseball team and car sales are down, many Americans
Formula One racing, has been are spending more time in their cars, increased attendance,” with the prop- Known as the “Cable Cowboy,”
thrown a curveball by the pandemic which makes Sirius subscriptions erty worth more than the tracker’s net Malone made his fortune as a pioneer
that has shut down live events in most stickier, he says. debt of about $350 million. Tinker says in cable TV in the 1980s and 1990s by
“Liberty has
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of the world. Liberty Braves, at about $18 a the Braves tracker could be worth more building and then selling Tele-Com-
But it is too soon to bench the 79- share, has a market value of $1.1 bil- made sure it than $40 in a few years. munications Inc. to AT&T (T). The
year-old investor. Indeed, the recent lion. That is a low price for the Atlanta Investments in live sports and en- deal maker got back into the business
setbacks offer investors a rare oppor- Braves, whose value Forbes magazine has enough tertainment properties like the Braves in 2013, by buying into Charter Com-
tunity to play promising parts of the recently pegged at $1.8 billion. While liquidity and Live Nation give Malone a compet- munications (CHTR). He remains its
Malone empire at a big discount. games are now on hold, Major League itive edge over traditional media con- most influential shareholder. Charter,
Take two of the three tracking Baseball is aiming to start play around and capital tent. Live events are less vulnerable to No. 2 in cable to Comcast (CMCSA),
stocks for his flagship Liberty Media July 4, and there could be a normal to bridge disruption by tech giants such as Am- has reported strong results in recent
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

operation: Liberty SiriusXM Group season next year or in 2022. azon.com, Facebook, or Netflix. quarters thanks to growth in high-
(ticker: LSXMA) and Liberty Braves Liberty Braves is complicated by its
through this “If you think there is a return to speed internet services.
Group (BATRK). real-estate holdings around the team’s until you get normalcy in the next year or two, then Investors can plug into Charter
Liberty SiriusXM, whose chief po- stadium, Truist Park. But John Tinker, the underlying thesis remains intact,” through two Malone entities. Liberty
sition is a 72% interest in SiriusXM an analyst at g. Research, likes the Bat-
to the other Ratcliffe says. “Liberty has made sure Broadband (LBRDK) is the main one.
Holdings (SIRI), trades at a near-re- tery Atlanta property development, side.” it has enough liquidity and capital to With a 23% economic interest in Char-
cord discount of nearly 40% to the including a hotel and restaurants, say- James Ratcliffe, bridge through this until you get to ter, it trades around $122, roughly a
value of its assets, which also includes ing that it “creates a virtuous circle of Evercore ISI the other side.” 15% discount to its NAV.
The smaller GCI Liberty (GLIBA)
is more complex. Its chief asset is a
Give Me Liberty—at a Discount 23% interest in Liberty Broadband. It
Here are the stocks controlled by Liberty Media’s John Malone and, in the case of Liberty TripAdvisor, Greg Maffei, and what they offer investors. also has stock in Charter, a 27% stake
in LendingTree (TREE), a mortgage
Discount to provider, and an Alaskan cable TV
Recent YTD Market Net Asset
Company/Ticker Price Change Value (bil) Value* Key Assets business worth $2 billion or so. Its
shares fetch about $62, an estimated
Qurate Retail / QRTEA $7.61 -10% $3.2 NM QVC, Home Shopping Network (HSN), Zulily
16% discount to its NAV.
Liberty Broadband / LBRDK 123.57 -2 22.4 15% 23% stake in Charter Comm. (54.1 mil shares)
Such big discounts reflect, in part,
GCI Liberty / GLIBA 62.37 -12 6.6 16 23% stake in Liberty Broadband, 27% stake in Lending Tree, Alaska cable TV
complexity. “Investors want platform
Liberty TripAdvisor Hldgs / LTRPA 1.75 -76 0.2 35 22% interest in TripAdvisor (31 mil shares)
companies and stories they can under-
Liberty Global / LBTYK 20.71 -5 12.8 NM European cable TV, broadband, telecom
stand in two sentences,” Tinker says.
Liberty Latin America / LILAK 9.02 -54 1.7 NM Puerto Rico and Latin America cable TV, telecom
How to understand Malone’s strat-
egy? He creates pure-play vehicles on
Liberty Media Trackers
the investments and businesses he
Liberty SiriusXM / LSXMK $31.43 -35% $9.9 38% 72% stake in SiriusXM, 33% of Live Nation Ent.
controls, either through stand-alone
Liberty Formula One / FWONK 29.37 -36 6.8 NM Formula 1 racing business
companies or, when tax issues prevent

Alex Fine
Liberty Braves / BATRK 19.16 -35 1.1 NM Atlanta Braves baseball club, real estate development company
that, tracking stocks.
Data as of 5/12/20; NM= Not Meaningful; *Estimated Sources: Bloomberg; Company reports; Evercore ISI; G. research He remains in the background, as
May 18, 2020 BARRON’S 17

chairman of Liberty Media and other Lib- controlled by Maffei, even though Malone’s
erty companies, while entrusting day-to- economic interest is below 10%. Malone’s
day responsibilities to several highly paid total stake in eight leading Liberty compa-
managers. Chief among them is Greg Maf- nies is valued under $4 billion—not high by
fei, CEO of Liberty Media and other Lib- mogul standards. A stake of less than $1
erty entities. Neither Malone nor Maffei billion in Liberty Broadband is enough for
would talk with Barron’s. effective control over Charter, with a $117
Malone is famously tax-averse and isn’t billion market value.
afraid of complex financial structures and He owns supervoting class B stock with
debt. He likes his companies to use lever- 10 votes each. Public investors are concen-
age because it holds down taxes and ampli- trated in A shares with one vote or the C
fies returns—if with more risk—for equity shares (which have a “K” in the ticker) with
holders. But Malone has long held that no votes. Retail investors may want to con-
subscription businesses like cable TV can sider the A shares, which sometimes trade
support big debt loads. at a discount to the more liquid C shares.
Still, such tolerance for debt has hurt Malone’s influence has been a big plus at
him at Liberty Formula One Group Charter, where leverage and a focus on
(FWONA), Liberty Media’s third tracking broadband has led to a 148% return over
stock, with auto racing being shut down. the past five years, versus Comcast’s 39%
To give Formula One more financial over the same period.
breathing room, Liberty Media shifted a Wall Street is betting that the Braves
33% Live Nation stake from the Formula will be sold in the next five years and that
One tracker to the Liberty SiriusXM Liberty Sirius will merge in a similar time
tracker in April, while shoring up Formula frame with Sirius, eliminating most of the
One’s balance sheet with more than $1 big discount. Ratcliffe says he sees a
billion in cash. The deal illustrates the roughly 50/50 chance that Liberty Broad-
elasticity of tracking stocks—which some band will link up with GCI Liberty this
investors don’t like. year. And Charter may ultimately buy Lib-
Formula One, popular in Europe and erty Broadband.
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South America, is aiming to restart in July.


Headed by former top Fox executive Chase
Carey, Formula One is trying to build fan
A model for these potential deals oc-
curred last year, when Expedia Group
(EXPE) bought out Malone-controlled
Connected for growth
interest in the U.S. But its stock doesn’t Liberty Expedia Holdings, which had a Helping clients along their financial journey is the most
look as cheap as Liberty Sirius or Liberty stake in Expedia. Liberty Expedia holders
Braves, the other Liberty Media trackers. got a slight premium in the deal, done at a
important part of your job. And that’s where your focus
Evercore ISI has a price target of $35, roughly 3% discount to NAV, while Expe- should be. So we’re giving you everything you need to
against a recent share price of $30. dia got Liberty’s supervoting Expedia get and stay connected—all from a wealth management
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

No Liberty company has been hit shares controlled by Malone, much of firm supported by a Fortune 500 company that is
harder by debt than Liberty TripAdvisor which were then taken by Expedia Chair-
(LTRPA), which owns 31 million shares, or man Barry Diller. committed to doing the right thing, the right way.
a 22% stake, in TripAdvisor (TRIP), the Investors may want to pass on other • Experienced team
online travel review site that expects little outposts of the Malone empire. Shares of
or no revenue in the current quarter. both Liberty Global (LBTYA) and Liberty • Close-knit family culture
In March, as TripAdvisor stock plunged, Latin America (LILA) have been poor
• Mobile solutions that let you do business wherever it takes you
Liberty TripAdvisor received a margin call performers in recent years, reflecting the
on some $363 million of debt. Liberty Trip- tough operating environment for cable and • Nationally recognized brand
Advisor paid it off, but at a steep price— telecom outside the U.S.
• Voya Cares® program, supporting the special needs
mostly with proceeds from the sale of $325 Liberty Global, which owns European
million of 8% preferred stock to Certares cable TV properties, recently agreed to community consisting of 1 in 4 Americans1
Management, an investment firm. combine its Virgin Media broadband busi- See how we can help you grow at VoyaFA.com.
Liberty TripAdvisor’s Class A shares ness with the O2 wireless operations of
are down 78% this year, to $1.61—a nearly Telefónica (TEF). Liberty Latin America
40% discount to FBN Securities’ calcula- provides cable and phone services in Puerto
tion of NAV of $2.65 a share. Routh sees Rico, the Caribbean, and Latin America.
the battered shares as a way to play a re- Shares of another Malone venture,
vival in TripAdvisor, even though Liberty Qurate Retail (QRTEA), which operates
TripAdvisor is on the hook for $26 million the QVC and HSN shopping channels,
in annual dividend payments to Certares. have fallen 43% in the past year, to around
“You’re betting that TripAdvisor shares $7.25. Qurate trades for under five times
will appreciate more than” the dividend projected 2020 earnings, but carries a Securities and investment advisory services offered through Voya Financial Advisors, Inc. (Member SIPC)
payments, Routh says. heavy debt of $7 billion. Revenue and prof- ©2020 Voya Services Company. All rights reserved. CN769849_0421
Malone effectively controls—or strongly its are being pressured. 1 Prevalence of Disabilities and Health Care Access by Disability Status and Type Among
influences—the Liberty empire through All in all, however, Malone has had an Adults – United States, 2016
ownership of supervoting stock in every excellent batting average. Time for inves-
company but Liberty TripAdvisor, which is tors to step up to the plate. B
18 BARRON’S May 18, 2020
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May 18, 2020 BARRON’S 19

I N C O M E I N V E ST I N G
About 50 companies in the S&P 500 have cut or
suspended their dividends to preserve capital
during the uncertainty of the coronavirus crisis.

The Pros Like These


peaked on Feb. 19, down about 5%. dividends to our shareholders.”
One potential worry for income Another recent top holding for the
investors: Verizon has a lot of debt. Vanguard fund was Comcast
As of March 31, its long-term debt (CMCSA). Its sprawling assets in-

8 Dividend Growers
totaled $106.6 billion against equity clude cable communications such as
of $61.7 billion. The company, how- high-speed internet access, theme
ever, says it remains committed to its parks, broadcast outlets NBC and
dividend—something it should be Telemundo, Hollywood studio Uni-

With Yields Above 2%


able to deliver upon, thanks to its versal Pictures, cable networks, and
strong free cash flow. That free cash Sky broadcasting in Europe.
flow totaled $3.6 billion in the first CFO Michael Cavanagh said in
quarter, up 26% year over year. part during the company’s first-
In early March, Verizon’s board quarter earnings call on April 30 that
declared a quarterly dividend of 61.5 Comcast remains set on “returning

I
cents a share, in line with previous capital to shareholders through a
n the quest for safe dividends dividend yields below 2%—their solid payouts. strong commitment to our recurring
during a time in which pay- payout growth notwithstanding. On Monday, speaking during an dividend.”
outs are coming under pres- That precluded high-profile stocks investing conference, Verizon Chief The fund also holds medical-
sure, it might be wise to fol- such as Apple (AAPL), which yields Financial Officer Matthew Ellis said, device company Medtronic (MDT),
low the pros. 1.1%; Microsoft (MSFT), 1.1%; and “Our capital allocation model hasn’t which appears to be well positioned
Income investors have Costco Wholesale (COST), 0.9%, changed as a result of Covid.” The top to get through the pandemic. The
endured plenty of turmoil in among others. priority, he said, is “to invest in the company said in an April 21 press
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recent weeks as companies across Nothing against those companies, business,” followed by the dividend. release that its capital-allocation
many sectors seek to stay afloat dur- which boast plenty of free cash flow, “We know how important that is to priorities include “paying a strong
ing the coronavirus pandemic. About By Lawrence C. seemingly healthy dividends, and our investors,” he added. dividend.”
50 companies in the S&P 500 index Strauss growing payouts. Apple, for example, Meanwhile, two of the Vanguard The company has been paying a
have cut or suspended their divi- on April 30 declared a quarterly divi- fund’s top holdings recently included quarterly dividend of 54 cents a share
dends so far in 2020. dend of 82 cents a share, up a little Procter & Gamble (PG) and John- since last July.
To begin narrowing down the field more than 6% from 77 cents. son & Johnson (JNJ), both of which The WisdomTree fund’s top hold-
of contenders, this week’s column But we passed on Apple and oth- declared dividend increases last ings include pharmaceutical firm
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

relied on two established exchange- ers this time because of their puny month—a sign that their businesses Merck (MRK) and PepsiCo (PEP).
traded funds that look for companies yields. remain durable during the pandemic. PepsiCo, the beverage and snacks
with reliable dividend growth—the There were plenty of other stocks Another holding, fast-food opera- company, on May 5 declared a quar-
Vanguard Dividend Appreciation with 2%-plus yields among the top tor McDonald’s (MCD), remains terly dividend of $1.0225 a share.
(ticker: VIG) and the WisdomTree holdings of these funds, however. committed to its dividend, as well. That’s a 7% boost from 95.5 cents a
US Quality Dividend Growth The WisdomTree fund’s largest During the company’s first-quarter share.
(DGRW). The Vanguard fund was holding is wireless company Verizon earnings call on April 30, CFO Kevin PepsiCo CEO Ramon Luis La-
recently down 14.5% since the market Communications (VZ), which was Ozan said that “our capital allocation guarta said during a May 6 call with
peaked on Feb. 19, slightly ahead of the recently yielding 4.4%. The stock has priorities remain investing in the analysts that the company’s cash flow
S&P 500’s 15.2% loss. The Wisdom- held up pretty well since the S&P 500 business for growth and prioritizing remains strong. “We continue to ex-
Tree fund was down about 14%. pect total cash return to shareholders
Barron’s wrote recently about how of approximately $7.5 billion in 2020,
such funds have held up relatively Eight Durable Dividends comprised of dividends of $5.5 billion
well in recent months, but this col- These stocks should have what it takes to sustain, if not grow, their dividends in these tough times. and share repurchases of $2 billion,”
umn attempts to focus more on some Recent Dividend Performance Most Recent he said.
of the individual stocks they hold. Company / Ticker Price Yield Since Feb. 19* Dividend Increase** Merck CEO Kenneth Frazier said
The $40.3 billion Vanguard fund Verizon Communications / VZ $55.46 4.4% -4.7% September 2019
in part during the company’s first-
replicates the Nasdaq U.S. Dividend quarter earnings call on April 28 that
Achievers Select Index. Its constitu- Procter & Gamble / PG 114.55 2.8 -8.7 April 2020 the company’s financial strength and
ents have increased their regular an- Johnson & Johnson / JNJ 147.14 2.7 -1.2 April 2020 balance sheet “allow us to continue
nual dividends for at least 10 straight with our capital-allocation priorities.”
Comcast / CMCSA 35.35 2.6 -23.1 January 2020
years. The $3 billion WisdomTree Those include “paying our divi-
fund has about 280 holdings drawn Merck / MRK 77.19 3.2 -5.9 November 2019 dends,” he said.
from the company’s much larger U.S. McDonald’s / MCD 176.54 2.8 -18.1 September 2019 Nothing is guaranteed, as the coro-
dividend index. navirus pandemic has shown. The
PepsiCo / PEP 132.94 3.1 -8.7 May 2020
Barron’s selected eight stocks from dividends of these eight companies,
among the top holdings of the two Medtronic / MDT 95.20 2.3 -16.3 June 2019 however, do look pretty well pro-
funds, eschewing any securities with Data as of May 12; *The S&P 500 set an all-time high on Feb. 19; **Applies to declaration date. Source: FactSet tected right now. B
20 BARRON’S May 18, 2020

5G IS HERE.
WILL ANYONE
CARE?
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Investors should temper their expectations. How to play it

I
BY NICHOLAS N THE COMING MONTHS, U.S. consumers will face a barrage of The new technology will eventually allow 4K movie downloads in
advertising for fifth-generation, or 5G, networks and shiny new seconds, virtual and augmented reality on the go, and remote sur-
JASINSKI phones. Verizon Communications promises ultrafast geries, all while connecting millions of devices that could create
speeds and massive capacity. “It will change everything,” the smart cities, factories, and transportation networks.
carrier says. At AT&T, 5G is “transforming the future.” But big ideas don’t always translate to larger profits. Here, the
But investors betting on 5G should temper their expectations. prior 4G rollout offers lessons for investors. While smartphone sales
The rollout will be more evolution than revolution, delaying and data usage soared with 4G, the average revenue per wireless
potential rewards for Verizon (ticker: VZ) and AT&T (T)—and con- subscriber has actually declined over the past decade, according to
sumers. For years to come, 5G networks will coexist with the current Moffett. Instead, much of 4G’s value has accrued to businesses such
4G LTE networks. And the speeds could be limited as the complex as Uber Technologies (UBER) and Snap (SNAP), which didn’t
networks are built. exist a decade ago.
“The value proposition for a smartphone customer to upgrade “There’s always an element of faith,” says Raymond James analyst
to 5G just isn’t remotely there yet, and it won’t be there for a very Simon Leopold. “If I knew the next great business case based on 5G,
long time,” says veteran telecom analyst Craig Moffett of Moffett- I would quit my job and go do that.”
Nathanson. To find 5G beneficiaries, investors will have to think outside the
For now, less than 30% of consumers describe themselves as box. The good news is there are existing stocks poised to benefit.
Illustration by Marcus Marritt “very interested” in 5G, according to data from UBS. Here’s where to look:
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com
May 18, 2020
BARRON’S
21
22 BARRON’S May 18, 2020
SPEEDING TO 5G

Network Infrastructure “The value cuted better and is ahead in technol- tiple carriers all renting space on the The 5G tower opportunity goes well
In the near term, the best way to play
the 5G rush is not through the wire-
proposition ogy and therefore is a better company
for 5G,” Leopold says. “Nokia has
same tower. (Barron’s cited the towers
in last week’s story about top real
beyond those tall, unsightly structures
on the side of the highway. New 5G
less carriers, but rather the universe for a made mistakes, and they’ve upset cus- estate stocks.) signals will travel across higher fre-
The largest player is American
of firms earning their 5G investments.
“We think of these as arms mer-
smartphone tomers and they’re behind. That said,
I think an investor can make a bigger Tower (AMT), with a market value
quencies than those used for 4G.
Those spectrum bands can carry more
chants to the combatants,” says Leo- customer to return investing in Nokia than in of $102 billion and nearly 180,000 information than lower-frequency
pold. “There is a significant complex
of companies involved in 5G beyond
upgrade to Ericsson....But we like both of these
companies because of the 5G theme.”
sites in 19 countries. The REIT pro-
duced $7.6 billion in revenue and $3.5
bands, but the signals don’t propagate
as far from antennas.
the most obvious players.” 5G just isn’t He rates Nokia shares at Strong billion in adjusted funds from opera- To keep 5G signals going, carriers
Finland’s Nokia (NOK), Sweden’s remotely Buy with a $5.50 price target— tions, or AFFO, last year. Both reve- are building a dense network of small
Ericsson (ERIC), South Korea’s potentially 60% upside from their nue and AFFO have grown at a 13% cells, or individual antennas, to blan-
Samsung Electronics (005930- there yet, recent $3.42. Leopold has an Outper- annual clip over the past five years. ket urban areas.
.South Korea), and China’s Huawei and it won’t form rating and $9 target on Ericsson, The shares have returned 168% dur- The No. 2 tower REIT, Crown Cas-
Technologies and ZTE (763.Hong 10% above its recent $8.13. ing that period, including a dividend tle International (CCI), has chosen to
Kong) will supply the next-genera- be there for that currently yields 1.9% annually— focus on the small-cell opportunity. It
tion antennas and base stations that a very long Tower REITs versus a 49% return for the S&P has 40,000 macro towers, plus
power 5G networks. But the chain While the carriers compete over cus- 500. 80,000 miles of fiberoptic cable
reaction of 5G investments will ripple time.” tomers, the companies that lease an- At a recent $230, American Tower reaching a network of small cells.
through the world of infrastructure Craig Moffett, tenna space on cell towers can benefit trades for about 27 times Wall Street’s “Crown has very much skated to
players, boosting sales of routing MoffettNathanson from the industrywide shift to 5G estimate of its per share AFFO for the where they think the puck’s going,
equipment from the likes of Cisco without having to pick sides. The pub- next 12 months. That’s not cheap, but and that’s small cells,” says Fritzsche.
Systems (CSCO) and Juniper Net- licly traded cell tower firms have all the tower REITs can expect activity to As they fill in their 5G networks,
works (JNPR), optical systems from converted to real estate investment pick up in the coming years as carriers carriers’ spending is likely to flow
Ciena (CIEN), and fiberoptic cable trusts in recent years, and they’ve upgrade their equipment. Antennas toward small cells. Crown Castle stock
from Corning (GLW)—to name a been remarkable outperformers, with for 5G are larger and heavier, meaning trades for 24 times forward AFFO,
few. the stock gains justified by fundamen- that they’ll generate more rent. and yields 3.2% annually.
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Nokia has had its share of perfor- tals. It’s an enviable business: Profit The carriers also need more equip- Shares of SBA Communications
mance missteps in recent years, begin- margins are wide, recurring revenue ment to transmit signals over the new (SBAC), the smallest of the big three
ning with its $17 billion acquisition of is high, and future visibility is clear, radio waves, or spectrum, that they’ve tower REITs, carries the highest price
Alcatel-Lucent. Integration was a given long-term contracts with annual paid billions to acquire for 5G. tag, at 30 times next 12 month’s pro-
challenge, and Nokia has burned more escalators. Increasing demand for “That spectrum isn’t worth a hill of jected AFFO. The company has the
than $6 billion in restructuring connectivity and data usage have re- beans unless you spend to build it sector’s fastest growth, which has
charges and postmerger adjustments. quired more antennas on more towers out,” says Wells Fargo analyst Jennifer been juiced by higher debt and stock
The distraction also allowed Ericsson in more places—frequently with mul- Fritzsche. repurchases.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

to seize the lead on the 5G technology


front, according to Leopold, and
Nokia has lost market share. Ericsson
has maintained a healthier balance The 5G Universe
sheet, and also benefited from foreign- The rollout of fifth-generation wireless networks will take many years, with lots of companies playing a role. Here are the main players.
exchange tailwind—it reports in Company / Ticker Recent Price Market Vaue (bil) YTD Return Dividend Yield
Swedish kronor, but earns most of its
sales in U.S. dollars, which have The Wireless Carriers
strengthened. Verizon Communications / VZ $55.91 $227 -8.7% 4.5%
Since the closing of the Alcatel-
AT&T / T 28.58 204 -24.6 7.3
Lucent deal in November 2016, Nokia
shares have lost investors 14% after T-Mobile US / TMUS 94.91 117 21.0 None
dividends, well behind Ericsson’s 79% The Tower REITs
return and the S&P 500 index’s 47%.
Ericsson’s market value has grown to American Tower / AMT $229.62 $102 0.4% 1.9%
$27 billion, versus $19 billion for Crown Castle International / CCI 152.04 62 7.9 3.2
Nokia, even though Nokia’s $26 billion SBA Communications / SBAC 282.93 32 17.6 0.7
in sales last year eclipsed Ericsson’s
$24 billion. The 5G Tech Suppliers
Leopold sees signs of Nokia catch- Qualcomm / QCOM $79.87 $90 -8.8% 3.3%
ing up, and calls its discounted stock
Ericsson / ERIC 8.13 27 -6.5 0.9
the better relative value. Ericsson
shares fetch 17 times forward earnings Nokia / NOK 3.42 19 -7.8 None
per share estimates and yield 0.9% Skyworks Solutions / SWKS 108.35 18 -10.0 1.6
annually, compared with 12 times for
Marvell Technology Group / MRVL 26.28 17 -0.8 0.9
Nokia. Nokia suspended its dividend
last October. Qorvo / QRVO 98.81 11 -15.0 None
“I do think that Ericsson has exe- Source: Bloomberg
May 18, 2020 BARRON’S 23

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24 BARRON’S May 18, 2020
SPEEDING TO 5G

The most significant tower growth, works. Compared with 4G hardware, build its own modem, having pur- “That prefers Marvell Technology Group
though, could come from international 5G devices require more complex chased Intel’s (INTC) modem busi- (MRVL), which supplies semiconduc-
markets in coming years. American radio frequency, or RF, components. ness last year. But, until then, Qual-
spectrum tor components to the likes of Nokia
Tower has a bet big on India’s rapidly That means bigger paydays for chip comm’s presence in the iPhone will isn’t worth and Samsung. Arcuri rates Marvell at
expanding wireless market, with makers supplying the parts. boost the chip maker’s revenue. Buy with a $29 price target, about
mixed success so far. It also has a The big event on everyone’s mind Beyond the iPhone, Qualcomm
a hill of 10% above recent levels.
large presence in Africa and Latin is Apple’s (AAPL) unveiling of its has an opportunity to take share in beans unless
America and in a few European next iPhone, due this fall; the com- the RF business from incumbents, The 5G rollout is coming at an awk-
countries through joint ventures. pany’s new lineup is widely expected including Qorvo (QRVO) and Sky-
you spend to ward time, though the carriers, who
About 45% of its sales last year came to include at least one 5G model. Ap- works Solutions (SWKS). build it out.” have spent years laying the ground-
from outside the U.S. ple signed a new multiyear agree- Qualcomm’s RF offerings have Jennifer Fritzsche, work for it, say the Covid-19 pan-
SBA’s largest international market ment with Qualcomm (QCOM) last become more competitive, Arcuri Wells Fargo demic hasn’t altered their timeline.
is Brazil, and it owns towers across year to supply 5G modems, putting says, giving the company a more That doesn’t mean consumers and
the Americas and in South Africa. aside a protracted legal battle and complete 5G product that it can bun- businesses won’t have a change of
Crown Castle operates only in the forking over billions of dollars in dle for customers that don’t want to heart about buying pricey smart-
U.S. withheld licensing payments. deal with multiple vendors. phones.
The differing strategies might not That speaks to the leadership of Qualcomm, Qorvo, and Skyworks Meanwhile, strained budgets are
matter for the stocks—rock-bottom Qualcomm’s 5G modem technology, are also best positioned to benefit from likely to make cities and municipali-
interest rates, high recurring reve- says UBS analyst Timothy Arcuri. the coming of internet-connected de- ties think twice about sponsoring
nue, and a clear catalyst for growth “You’ve got a company that really vices. This so-called Internet of Things connected-city projects, and corpora-
keep all three attractive. doesn’t want to deal with Qualcomm will lead to more devices needing more tions have new priorities other than
being forced to,” he comments, RF components. overhauling their networks.
Chip Makers/Devices “because of their technology.” (See The market might already appreci- 5G is still coming, and it will ulti-
5G also means new devices capable Qualcomm interview on page 26.) ate the opportunity. Arcuri has Neu- mately change our lives. But it’s not
of connecting to the upgraded net- Apple ultimately endeavors to tral ratings on all three stocks. He going to happen overnight. B
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Not All 5G Is Created Equal. Here’s How the Networks Stack Up.

5
G won’t make or break without massive increases to nobody is today. As long as the spectrum was a key motivation of the early use cases, the things
this year or next for U.S. their capital spending, another coronavirus pandemic wears for T-Mobile’s Sprint acquisi- that are really going to reshape
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

wireless carriers —or reason that the transition from on, wireless carriers pushing tion, which closed last month. how commerce is conducted,
2022 for that matter. 4G will be a gradual one. 5G will have a tough sell. The combined company now are going to come from the
Network buildout and The greatest user benefits One use of 5G that may get a has the largest midband port- enterprise space,” says Jeff
customer adoption will be from 5G networks are lift from coronavirus is fixed folio, with more licensed spec- McElfresh, CEO of AT&T
slow, meaning that 5G’s significantly faster upload and wireless broadband— trum than Verizon and AT&T Communications. “And then
impact will take years to show download speeds, lower latency, essentially home internet combined. Both of them are consumers will follow as more
up in the carriers’ financial and better performance in high- delivered over the air—as likely to be bidders in a pair of mainstream devices become
results. density areas. Much of that consumers stuck indoors look upcoming midband auctions. available and 5G networks
They’re bullish on the 5G comes from using a wider range to upgrade their connections. Once acquired, that become denser and more fully
opportunity, nonetheless. of radio waves, or spectrum, Verizon is the only U.S. spectrum will take years to deployed.”
“Frankly this is all one big which are licensed for carrier offering 5G home deploy at a cost of billions of Dish Network (DISH) is
ecosystem, and a rising tide lifts commercial use by the Federal internet. It’s currently in Los dollars. Until then, T-Mobile, also set to join the fray, after
all boats,” says Kyle Malady, Communications Commission. Angeles, Chicago, Houston, appears to have a significant scooping up regulator-required
chief technology officer of Each of the carriers is taking a Indianapolis, and Sacramento. advantage in 5G spectrum. divestments from the Sprint/-
Verizon Communications different approach to 5G AT&T plans to have a T-Mobile deal. But the satellite-

U
(ticker: VZ). “In terms of how spectrum, which is likely to ltimately, the carriers will nationwide 5G network using TV firm is starting from scratch,
we monetize that thesis, time have an impact on the services need a mix of bands for 5G. mostly mid- and low-band and it will take several years to
will tell. But it all starts with the they offer. Lower frequencies enable spectrum by this summer, with have a 5G network that rivals
connectivity and the capabilities Verizon has bet on high broader geographic mmWave in certain areas those of existing carriers.
that leveraging those brings— frequencies known as coverage, albeit at slower branded as 5G+. The carrier is There’s also considerable
the devices and our network.” millimeter wave, or mmWave, connection speeds. Midband more focused on enterprise skepticism on Wall Street about
Verizon, AT&T (T), and T- which require a dense network spectrum offers fast coverage applications initially, working Dish’s ability to fund that build-
Mobile US (TMUS) have begun of small cells. The idea works with a radius of more than a with corporate customers to out. In the meantime, Dish’s
to roll out 5G in markets across best in crowded places, like mile, making it the Goldilocks move their wired networks to stock is down 30% this year,
the U.S., but the carriers are stadiums, airports, and zone for 5G. AT&T 5G. reeling from declines in the
planning their 5G strategies shopping malls—exactly where Gaining access to midband “We believe that the majority company’s pay-TV business. B
May 18, 2020 BARRON’S 25
SPEEDING TO 5G

The U.S. and China


been limited to cities and sports stadi- telecom giant reported slightly slower
ums, which are now sitting empty. revenue growth for 2019, but sales still
Most U.S. 5G investment comes from hit a record $121 billion. Huawei has
the private sector. But observers say overtaken Apple as the world’s second-
there’s another factor holding the U.S. largest smartphone maker behind

Have a New Front in back: a lack of wireless spectrum, or


airwaves, devoted to 5G signals.
While China has quickly reallo-
cated its spectrum, the U.S. airwaves
Samsung Electronics.
The U.S. has been looking to shore
up alternatives to Huawei, potentially
from European equipment firms like

The Trade War: 5G


have been tied up in disputes between Nokia (NOK) and Ericsson (ERIC).
the military and other federal agencies The hammer dropped on Friday,
fighting for allocations. It could take when the U.S. Commerce Department
another year for the Federal Commu- amended export rules, curtailing Hua-
nications Commission to solve the wei’s access to global chip makers that
bottleneck. In the meantime, 5G ser- use U.S. technology. The move largely
5G will shape a new generation of communications, artificial intelligence, vice in the U.S. could be spotty, just as affects Taiwan Semiconductor
and data collection. Neither the U.S. nor China is willing to fall behind. wireless carriers and hardware mak- Manufacturing (TSM), which makes
ers begin to market new 5G phones. advanced chips for 5G smartphones;
The U.S. is “nowhere near China’s Huawei is the largest customer for
investment so far,” says Paul Triolo, those Taiwan Semi chips.
head of Eurasia Group’s geo-technol- The move is a “major blow to both
ogy practice. (For a different view, see Huawei and China’s 5G ambitions, and
page 26.) will be consequential to the course of
Falling behind on 5G is a worry the U.S.-China relationship in the near
within the Trump administration. term,” says Triolo, who calls the move
Earlier this year, U.S. Attorney Gen- “nuclear.” He expects China to respond
eral William Barr described China’s by putting a narrow group of U.S. com-
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dominance of 5G telecom networks as panies on its “unreliable entity list.”


one of the top U.S. national security There could still be some wiggle
and economic threats, adding that “for room from the U.S., though, with for-
the first time in history, the U.S. is not eign companies like Taiwan Semi po-
leading the next technology era.” tentially getting export licenses in re-
U.S. efforts to catch up with China turn for promises to invest or create
on 5G—and the inevitable Chinese jobs in the U.S., says Rory Green, an
pushback—could force the rest of the analyst at independent research firm
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

world to choose sides in a tech cold TS Lombard.


war. Ultimately, the U.S-China divide
U.S. officials have cautioned com- will slow innovation globally, as both
panies that Huawei’s gear could be nations try to become more self-
used by the Chinese for intelligence sufficient. “The bottom line is that this
By RESHMA KAPADIA coming decades—and neither country efforts. In February, Defense Secretary is highly inefficient, and we will need

C
wants to fall behind. It isn’t dissimilar Mark Esper warned European coun- two of everything,” says longtime Asia
ovid-19 has strained most to the U.S.-Soviet Union race into tries that they could jeopardize their strategist Paul Schulte of Schulte Re-
relationships, and U.S.- space and then to the moon. alliances with the U.S. if they used search. This past week, Taiwan Semi
China tensions are now So far, China is taking its moon shot Huawei gear in their 5G networks. announced that it will spend $12 billion
higher than they were more seriously. No other country While some countries, like Australia, to build a chip factory in Arizona,
before the trade deal. This comes near China in terms of broad 5G have heeded the U.S. warnings, others though production won’t start till 2024.
time, the outlet for frustra- investment and infrastructure deploy- including the United Kingdom and Investors responded to trade-war
tion isn’t tariffs but tech- ment. China has earmarked 1.2 trillion Saudi Arabia continue to work with changes on a daily basis last year, but
nology. The U.S. and China are locked renminbi, roughly $170 billion, over Huawei. even as the 5G battle brews, tech stocks
in a race to dominate the next wave of the next five years to build its 5G net- Huawei has repeatedly denied have rebounded sharply from their
wireless communications—and it just work. By the end of 2020, China is espionage-related charges. The virus selloff. The iShares PHLX
got ugly. expected to have 620,000 base stations “The bottom company didn’t respond to Barron’s Semiconductor exchange-traded fund
On Friday, the U.S. stepped up its to support advanced 5G capabilities. line is that request for comment. (SOXX) fell a modest 2% on Friday,
efforts to block China’s development The speed and low latency of 5G Last year, the U.S. restricted Hua- despite the latest U.S. escalation.
of fifth-generation, or 5G, communi- means that it’s well suited to power this is highly wei’s access to some components made “These kinds of measures may seem
cations, taking aim at Huawei Tech- smart grids, self-driving cars, autono- inefficient, by U.S. suppliers, including Intel technical and fly below the radar
nologies, the privately held Chinese mous weapons, and robotic surgery. (ticker: INTC), Qualcomm (QCOM), screen of many in the U.S., but they
firm that’s now the world’s largest During the pandemic, China has used and we will Broadcom (AVGO), and Xilinx represent long-term structural shifts,”
Marcus Marritt

telecom-equipment maker and a lead- 5G infrastructure to power robotic need two of (XLNX). For now, those rules have says Nathan Sheets, chief economist at
ing supplier of 5G gear. ultrasounds for patients and driverless been loosely applied, with several of PGIM Fixed Income.
Communications, artificial intelli- vans to clean the streets of Wuhan. everything.” the companies getting licenses to con- Investors ignore the tech cold war at
gence, and data promise to shape the In the U.S., 5G progress has largely Paul Schulte tinue selling to Huawei. The Chinese their own peril. B
26 BARRON’S May 18, 2020
SPEEDING TO 5G

An Insider Says
The 5G Rollout
Is Doing Fine
Qualcomm President Cristiano Amon says quiet
streets are actually easing the deployment of 5G

By ERIC J. SAVITZ

Q
ualcomm has spent three
decades working on the
next big thing in wireless.
The company’s sales Qualcomm President Cristiano Amon speaks at the CES consumer technology trade show in Las Vegas in January 2020.
peaked at $26.5 billion in
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2014, as fourth-genera-
tion, or 4G, phones came result of the Covid-19 pandemic: It’s important to look at two separate come people have to upgrade to new
of age. Now the smartphone chip Over the years, you’d hear people things—technology leadership and devices. But in China, while the total
maker is waiting for a new, 5G peak. make predictions about how people scale. Every new technology 5G mile- number of devices fell, the 5G numbers
It’s coming. Qualcomm expects 175 will eventually do more e-learning and stone—every single one— has come held, aided by the emergence of cheaper
million to 225 million 5G handsets to be telemedicine. Well, the time is today. from Qualcomm, or Ericsson (ERIC), 5G devices. Carriers want to drive peo-
sold worldwide this year, even amid Companies realize they can remain or Nokia (NOK), or Samsung ple onto their new networks. If you are
the Covid-19 pandemic. Wall Street productive with people working from (005930.South Korea), or carriers like a carrier CEO, once you deploy a 5G
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

expects Qualcomm’s revenue to hit $28 home. At Qualcomm, we have cameras Verizon (VZ), T-Mobile US (TMUS), network, and you still have a 4G net-
billion in 2022. in our labs. Our systems are connected or AT&T (T), even on things where the work, you are carrying double operat-
Barron’s recently spoke with Qual- to the cloud, so people can collaborate. Chinese claimed a lead. It’s not true ing expenses. So you want to encourage
comm (ticker: QCOM) President Cris- We have the ability to remotely access we’re behind China on 5G technology. traffic to move to the new network.
tiano Amon, a 25-year veteran of the and test devices. We talk about the
company, about the much-anticipated Internet of Things and the next indus- On where the West is still falling On applications of 5G for
5G rollout, global technology competi- trial transformation, and we’re using behind: consumers—and businesses:
tion, and the coronavirus. those tools. We’re above 90% of nor- At the end of the day, you need to Digital transformation and Internet of
Here are edited highlights from our mal productivity with most of our em- scale up the network. In the U.S. and Things plans are being accelerated. In
conversation: ployees working from home. Europe, deployments can be slowed Korea, we have a customer, a start-up,
by the need for site permits. It’s easier that developed a 5G camera you wear
On the pace of the 5G rollout On how Covid-19 affects the 5G in China. I’m happy with the way around your neck. It gives you high-
across the world: rollout: things are going in the U.S., and oper- quality, high-definition 360-degree
KT [Korea Telecom; 030200.South Early last year, we started seeing 5G ators are busy building coverage. But video. The camera is being used in hos-
Korea] says it will have millimeter wave phones roll out. The last piece was the if you ask about the No. 1 obstacle to pital intensive-care units with Covid-19
5G [the fastest variety] deployed before deployment of infrastructure. One the speed of deployment of 5G here, it patients—nurses and doctors can pro-
the end of 2020. Japan has launched thing happening right now in the U.S. is the availability of new sites. You vide 360-degree high-def video to doc-
5G, including millimeter wave. In the and other countries is that there aren’t have to create more density—the net- tors in remote locations who can pro-
December quarter in China, 19% of the Ramping Up many people in the streets. The carri- work needs more towers, and that is vide instructions in real time.
new phone activations were 5G. In the ers are ahead of schedule—it’s the not easy. Carriers need to negotiate Going back to the consumer, people
March quarter, it was 30%. The China
carriers have a target of one million 5G 30% perfect time to dig trenches, lay fiber,
and erect new antennas. The carriers
with individual municipalities. That’s
something that doesn’t exist in China.
are consuming more streaming video.
With 5G, you’ll have enough band-

Mario Tama/Getty Images


base stations by the end of the year. All Percentage of are accelerating the rollout by at least width to play content in the original
of that helps explain why we reiterated phone activations a quarter. It’s just easier to deploy in On the recession’s impact on definition 95% of the time. There will
our target for the number of 5G handset with 5G capabili- the current environment. phone sales: be many other things—new things
units for the year. ties in China last The mobile market is going to be will come as 5G gets scale.
quarter, according On 5G competition between the smaller than it would have been. You
On how the world will change as a to Qualcomm U.S. and China: can look at how much disposable in- Cristiano, thanks so much. B
May 18, 2020 BARRON’S 27

FUND PROFILE Mike Trigg and Paul Black, Portfolio Co-Managers,


WCM Focused International Growth Fund

All Eyes on
Corporate
Culture
By SARAH MAX

C
orporate culture is difficult to define, hard to
quantify, and often in the eye of the beholder.
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Yet apprising whether a company truly has


staying power requires scrutinizing culture
with the same diligence as balance sheets and
supply chains—or at least that’s what the in-
vestment team at WCM Investment Manage-
ment will tell you.
Culture can’t compensate for business shortcomings,
but it can make all the difference between whether a high-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

quality company can grow its competitive advantage and


quickly adjust to changes in the marketplace. “In this
current environment, adaptability is without question the
theme you are banking on more than anything else,” says
Mike Trigg, co-manager of the $12.9 billion WCM Fo-
cused International Growth fund (ticker: WCMRX).
WCM’s headquarters are in a historic clapboard house
a block from the ocean in Laguna Beach, Calif., which has
been renovated to allow for open space and natural light.
“Our dress code is no suits and ties, and I wear flip-flops
and shorts,” says the firm’s co-CEO, Paul Black, 62. The
13-person investment team manages more than $50 bil-
lion in assets. It joined Natixis Investment Managers in
2019 as an affiliate, but it maintains its own culture—em-
phasizing fun and gratitude. “This is a hard business, and
if you’re not loving it and having fun, then the difficult
periods are going to be a lot tougher,” says Trigg, 42. “And
with gratitude, there is a sense of humility, which is also
important in this business.”
This might seem like a caricature of laid-back Califor-
nia, but WCM’s results make it a stalwart. The concen-
trated portfolio of about 30 holdings has returned an aver-
age of 8.1% a year over the past five years, better than 96%
of its foreign large-growth peers. During that time, it kept
pace with its benchmark, the MSCI ACWI Ex USA index,
in up markets, but endured less than 60% of the losses in

Illustration by MICHAEL HOEWELER


28 BARRON’S May 18, 2020

down markets. The fund does, however, have tent?” asks Trigg, whose career trajectory Scoreboard: Mixed Emotions
a higher-than-average fee level for its cate- reflects the firm’s unconventional hiring. (Covod-19 remained the dominant theme. U.S. stock funds fell 1.91% and the S&P 500 shed 1% as
gory, with an expense ratio of 1.24%. He was an analyst at Morningstar and was economic fears beat out reopening hopes. Real estate plunged 5.46% while reviving China funds rose 2%.
To get those results, co-managers Trigg recruited by WCM after his newsletter One Week Year-to-Date
and Black start with international compa- caught the attention of Black and his co-
nies poised to benefit from long-term trends CEO, Kurt Winrich. U.S. STOCK FUNDS – 1.91% – 16.20%
TOP SECTOR / China Region Funds 2.03 – 0.68
related to technology, health care, or the As strongly as WCM feels about its own BOTTOM SECTOR / Real Estate Funds – 5.46 – 24.05
growing global consumer population. They culture, it doesn’t expect company manag- S&P 500 – 1.00 – 11.71
insist on seeing the usual traits embraced by ers to follow the same playbook. “Fun might U.S. BOND FUNDS – 0.03 – 1.33
Bloomberg Barclays AGG Bond 0.05 6.05
growth managers: high returns on invested not be the best fit for a railroad company,”
capital, strong balance sheets, and ample says Trigg, referring to one of the fund’s THE WEEK'S TOP 25
free cash flow. But the real value of active holdings, Canadian Pacific Railway Fund Investment Objective One Week Year-to-Date
management, they say, is determining (CP.Canada). The fund first bought shares
Matthews Itl Chn SC Inv / MCSMX China Region 6.51% 33.7%
whether a company’s so-called moat is get- in 2013 after the arrival of industry leader Matthews Itl Innvs Inst / MITEX Pacific Ex Japan 4.30 6.2
ting larger or evaporating over time. Like- Hunter Harrison signaled that the culture Invesco Gr China A / AACFX China Region 3.65 1.4
wise, they don’t let valuations drive deci- could be improving for the better. Harrison Matthews Itl SmCo Inv / MSMLX Pacific Ex Japan 3.54 – 4.5
WM Blair Em SC Gr R6 / WESJX Emerging Markets 3.41 – 7.0
sions. “A lot of managers spend 95% of their left the company in 2017, but his successor Fidelity Adv Biotech I / FBTIX Health/Biotech 3.31 7.5
time crunching numbers so they can be pre- has “continued to improve on operational Virtus KAR Em Mkts SC I / VIESX Emerging Markets 3.27 – 5.7
cisely wrong about the valuation of a com- excellence,” says Trigg, noting that railroads Oberweis China Opps Inv / OBCHX China Region 3.17 3.1
pany,” says Black. are a tollbooth of economic growth. “They Victory Em Mkts SC Y / MYEMX Emerging Markets 3.13 – 14.8
Ashmore EM Sht Dur Inst / ESFIX Emg Mkts HC Debt 3.07 – 26.0
History is littered with examples of com- actually have a chief culture officer.” Columbia Grtr China A / NGCAX China Region 3.06 1.5
panies that once were the dominant players Hennessy Japan Inst / HJPIX Japanese 3.05 – 7.7
in their industries but saw their economic The coronavirus pandemic—along with Wasatch Emg Mkt SC Inv / WAEMX Emerging Markets 3.00 – 13.7
Princeton Lng/Sht Trs A / PTAAX Alt Mgd Futures 2.94 8.5
moats shrink. “In 2007, Nokia [NOK] had social distancing and the subsequent eco- Quantified Pat Recog Inv / QSPMX Specialty Dvsfd Eq 2.87 0.2
53% share of the cellphone market and great nomic fallout—offers a real-time litmus test WCM China Qual Gro Inst / WCMCX China Region 2.80 NA
returns on capital, and all the analysts had of the strength of a company’s culture and Invesco Pac Gro A / TGRAX Pacific Ex Japan 2.80 – 1.8
WM Blair Em Mkt G R6 / BIEMX Emerging Markets 2.78 – 9.7
Buy recommendations,” Black says. Less its ability to adapt to the marketplace.
Morg Stan I Disc I / MPEGX Mid-Cap Growth 2.76 32.0
than a decade later, Nokia’s market share Canadian e-commerce platform Matthews Itl China Inv / MCHFX China Region 2.71 1.2
had shrunk to near zero. Shopify (SHOP) has attracted a loyal fol- Morg Stan Insight A / CPOAX Multi-Cap Growth 2.66 29.5
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

To factor corporate culture into their lowing among merchants of all sizes, and Clough China I / CHNIX China Region 2.58 – 4.8
Bail Giff China A Inst / BCANX China Region 2.48 12.5
analysis, the team has worked with academ- has only deepened those ties during the Issachar Fund N / LIONX Flexible Portfolio 2.46 11.8
ics to create a list of questions aimed at un- pandemic. The company extended mer- Matthews Itl ESG Inst / MISFX Pacific Region 2.46 – 13.4
derstanding it. There is no right or wrong chant credit and rolled out several initia-
kind of culture—within reason—but it tives to help its sellers—many of them THE WEEK'S BOTTOM 10
should support a company’s strategic goals small retailers—transition to social-dis- Fund Investment Objective One Week Year-to-Date
and be ingrained in its ethos. “If I asked 10 tancing norms and secure government WP Sm Co Inc+ Inst / WPSMX Equity Income – 11.83% – 55.2%
people at the same company to talk about its funding. “Everything the company does is Vulcan Val PSC Inst / VVISX Small-Cap Core – 8.59 – 41.8
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

RMB Inv Fnl Svc I / RMBLX Financial Services – 8.19 – 46.9


culture, would their responses be consis- driven by the idea of what’s best for the Hennessy Sm Cp Finl Inv / HSFNX Financial Services – 8.16 – 42.7
merchant,” says Trigg, adding that Shopify Morg Stan I US RE I / MSUSX Real Estate – 7.96 – 38.7
accounts will be one of the last things mer- Cove St Cap SCV Inst / CSCAX Small-Cap Core – 7.93 – 40.1
WCM Focused International Growth chants cut during the pandemic. In addi- Midwood Long/Sht Eq Inst / MDWDX
ATAC Rotation Instl / ATCIX
Alt Long/Short Eq
Abs Return
– 7.80
– 7.71
NA
21.0
Total Return tion to offering point-of-sale and other e- Gator Financial / GFFIX Mid-Cap Value – 7.48 – 39.3
1-Yr 3-Yr 5-Yr commerce services, the company has J Hancock Reg Bank A / FRBAX Financial Services – 7.31 – 44.9
WCMRX 7.3% 9.2% 8.1% expanded to help with fulfillment, logistics,
THE LARGEST 25
MSCI ACWI ex US -8.9 -0.5 0.2
and demand generation, he says. Assets 3-Year* 1-Week YTD
The WCM managers are taking the long Fund (billions) Investment Objective Return Return Return
Top 10 Holdings view on the stock—which recently climbed Fidelity Contrafund / FCNTX $91.0 Large-Cap Growth 13.4% – 0.44% – 0.1%
Company / Ticker % of Assets
to new highs. “They’ve only scratched the American Funds Gro A / AGTHX 89.6 Large-Cap Growth 11.2 – 0.64 – 2.6
CSL / CSL.Australia 5.3% surface,” says Trigg, whose team estimates Vanguard Wellington Adm / VWENX 85.3 Mix Tgt All Gro 6.0 – 0.70 – 8.4
American Funds Bal A / ABALX 73.8 Mix Tgt All Gro 6.0 – 0.52 – 6.1
Canadian Pacific Railway /
4.1
that Shopify does business with about 6% American Funds Inc A / AMECX 66.5 Mix Tgt All Mod 2.2 – 0.89 – 13.0
CP.Canada of merchants in current geographies, with American Funds EuPc R6 / RERGX 65.4 Intl Large-Cap Growth 1.1 – 1.04 – 16.3
Dodge & Cox Income / DODIX 62.5 Core Bond 4.6 – 0.07 2.0
Experian / EXPN.UK 3.9 much more room to expand. PIMCO Income Inst / PIMIX 59.3 Multi-Sector Inc 2.3 0.20 – 5.6
Another company that has potential to Dodge & Cox Stock / DODGX 58.7 Large-Cap Value – 0.2 – 2.51 – 23.6
Tencent Holdings / 700.Hong Kong 3.9
American Funds CIB A / CAIBX 57.3 Global Equity Income 0.7 – 0.89 – 13.1
Lululemon Athletica / LULU 3.9 expand is CSL (CSL.Australia), a holding American Funds ICA A / AIVSX 56.0 Large-Cap Core 5.2 – 0.71 – 10.9
since 2015 and recently the fund’s largest American Funds Wash A / AWSHX 54.2 Large-Cap Core 5.9 – 0.63 – 14.2
ResMed / RMD 3.9 Vanguard PRIMECAP Adm / VPMAX 52.6 Large-Cap Core 7.6 – 0.89 – 14.8
position. The Australia-based company PIMCO Tot Rtn Inst / PTTRX 52.2 Core Plus Bond 5.1 0.14 4.4
LVMH Moet Hennessy
Louis Vuitton / MC.France 3.9
specializes in plasma therapies that are American Funds FInv A / ANCFX 48.5 Large-Cap Core 5.5 – 0.74 – 13.1
MetWest Total Rtn I / MWTIX 46.9 Core Plus Bond 5.3 – 0.06 4.5
predominantly used for immune deficien- American Funds CWGI A / CWGIX 45.4 Global Large-Cap Core 2.8 – 0.89 – 14.3
Nestle / NESN.Switzerland 3.8
cies, but there are other growing use cases, Vanguard Wellesley Adm / VWIAX 44.5 Mix Tgt Alloc Con 5.4 – 0.38 – 3.7
Accenture / ACN 3.8 DoubleLine Tot Rtn I / DBLTX 43.9 US Mortgage 3.5 0.28 0.8
including treatment for cancer and, poten- T Rowe Price BC Gro / TRBCX 43.6 Large-Cap Growth 16.3 – 0.29 0.8
Taiwan Semiconductor
3.8 tially, Alzheimer’s and Covid-19. “We think Vanguard Tgt Ret2025 Inv / VTTVX 42.5 Mixed-Asset Target 2025 4.5 – 0.60 – 7.8
Manufacturing / TSM Vanguard Sh-Tm Inv Adm / VFSUX 41.9 Short Inv Grade 3.0 0.05 1.2
of them as a hybrid between a biotech and American Funds NPer A / ANWPX 41.3 Global Large-Cap Growth 7.9 – 0.85 – 8.9
Total 40.3% best-in-class manufacturer,” says Trigg, Fidelity Str Adv Cre Inc / FPCIX 40.4 General Bond 4.9 0.13 3.1
Note: Holdings as of March 31. Returns through May 11; three- and
noting that the company’s ability to collect Vanguard Div Gro Inv / VDIGX 38.9 Equity Income 8.4 – 1.59 – 12.8
five-year returns are annualized.
Sources: Morningstar; WCM Investment Management; Bloomberg and fractionate plasma is key. B *Annualized 05/11/2017 to 05/14/2020. Through Thursday. Source: Lipper
May 18, 2020 BARRON’S 29

F UN DS
More high-quality corporate bonds have been
downgraded to junk in the first few months of this
year than in any other calendar year.

Energy Company
lion City National Rochdale Fixed flow that you can use to pay down
Income Opportunities fund debt,” Slatky says.
(RIMOX). Morningstar Direct has Other managers favor refiners that
27% of the fund’s assets categorized can benefit from a cheaper fossil-fuel

Downgrades Stymie
as “Bank Loan Unspecified,” and just feedstock to their products—gasoline
5.8% in energy. But the fund’s fact and plastic. Manager Ray Kennedy of
sheet indicates an energy stake of the $1.7 billion Hotchkis & Wiley
nearly double that, 10.5%. High Yield (HWHAX) holds the debt

High-Yield Investors
of refiners PBF Energy (PBF) and

N
otably, some short-term Holly Energy Partners (HEP). “If
high-yield funds are light you have to be negative on a refiner,
on energy. As co-chief in- you think driving never comes back,”
vestment officer of Shenk- he says. “I love Tesla [electric] vehi-
man Capital Management, Justin cles, but low gas prices make it more

T
Slatky helps manage the $594 million likely you’re going to see more driv-
he year isn’t even By Lewis Braham (RSIVX) funds. In the former, he Shenkman Capital Short Duration ing.” Kennedy says he’s getting up-
half over and al- owned two short-term energy bonds High Income (SCFAX) and the more ward of 12% yields on refiner bonds.
ready more high- that recently matured without a traditional $380 million Harbor

F
quality corporate problem. In the latter fund, with lon- High-Yield Bond (HYFIX), which rom a fallen-angel perspec-
bonds have been ger maturities, he estimates that his Shenkman subadvises. Slatky doesn’t tive, Occidental Petroleum
downgraded to energy exposure has cost the fund buy energy bonds in the short-dura- (OXY) is the largest in the
junk than in any four percentage points of return that tion fund because the total income energy space so far, Moody’s
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other year—more than $153 billion. the fund won’t recover. potential on a bond with, say, only having downgraded some $37 billion
Energy companies dominate these “If you’re at the bottom of the capi- one year of income until maturity is worth of its debt. Berkshire Hatha-
so-called fallen angels. Oil companies tal structure, you’ve got real prob- small, while the downside from a way’s Warren Buffett owns the com-
have fallen hard: The Bloomberg Bar- lems,” Sherman says. “But if you’re at default is large. pany’s preferred stock. Yet some
clays High Yield Energy Index is the top, it’s a question of can the com- Yet in Harbor High-Yield, Slatky managers are hesitant to get in now,
down 22% this year, as West Texas panies have enough cash to survive had a 7% energy weighting as of after the downgrade. “Occidental at
intermediate crude has fallen from long enough for oil prices hopefully March 31. He favors midstream pipe- this point is rated BB+, and its debt
$61 a barrel at the start of the year to to come back? But the sector’s really line companies that receive a steady generally trades between 75% and
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

a recent $28. screwed.” stream of cash for transporting fossil 95% of par,” says Charles Lemonides,
The managers of the $1.7 billion Gauging the size and nature of fuels more than E&P companies, portfolio manager at ValueWorks, an
VanEck Vectors Fallen Angel High your bond fund’s energy exposure which are more sensitive to oil prices. eclectic hedge fund lately buying en-
Yield Bond exchange-traded fund can be tricky. On its website, fund One example in the fund is Targa ergy debt. “It would likely be trading
(ticker: ANGL) estimate that the en- tracker Morningstar breaks down Resources (TRGP), a master limited a lot lower if it didn’t have the bless-
ergy weighting in the ETF could bond funds’ exposure by broad cate- partnership that used to pay a hefty ing of Buffett behind it.”
range from 19% to 40% after all of gories such as corporate, Treasury, or 91 cents per share dividend, but cut Instead, Lemonides is buying the
the downgrades are done. The precise mortgage-backed, but energy is con- its dividend to 10 cents in March. Yet far cheaper debt of bankrupt Whiting
amount depends on whether certain sidered a corporate subsector, and the fund owns Targa’s bonds, not its Petroleum for 10 cents on the dollar
large energy bond issuers receive there’s no information on it. dividend-paying stock: “Getting rid of of its face value, which will be con-
one-notch downgrades in their rat- Digging into a particular fund’s the equity distributions from a bond verted to equity when the company
ings, or two or three. holdings can require a multi-pronged perspective is very positive because emerges from bankruptcy in what he
Whether this surge in high-yield effort. Take, for example, the $3 bil- that means you have a lot more cash expects to be a few months. He be-
energy bonds is a threat or an oppor- lieves that “we can easily see a return
tunity depends on the kinds of com- on our investment of two to five
panies, the maturity of the bonds, Energy Is Dragging Down High Yield times.”
and where in the capital structure Energy bonds are the fourth-largest sector in high yield, but its performance has taken a big toll on the asset class. Whether they buy Occidental or
those companies’ high-yield bonds not, managers still must make sense
Bloomberg Barclays
reside. If bonds are on the top of the U.S. Corporate High Total Return of the barrage of downgraded energy
structure and the first for investors to Sector Yield Index Weighting Yield YTD 5-Yr 10-Yr bonds about to hit the market. “It’s a
claim the company’s assets—often oil very big challenge to manage through
Communications 18.4% 5.73% -4.3% 4.9% 6.9%
reserves—in a bankruptcy, then the this,” says Kennedy. “We all have to
likelihood of survival improves. Consumer Cyclical 17.8 8.16 -10.9 3.4 6.1 roll up our sleeves and figure out
David Sherman of Cohanzick Consumer Non-Cyclical 17.3 6.60 -2.9 5.0 7.1 whether there are some ideas here.”
Management manages the $618 mil- Not buying any of the fallen angels is
Energy 11.8 15.01 -22.4 -4.3 1.0
lion RiverPark Short Term High a bet against energy at this point. The
Yield (RPHYX) and the $178 million Capital Goods 9.4 7.87 -8.8 4.3 6.5 question is: How much lower can
RiverPark Strategic Income Note: Returns and weighting as of May 13. Five- and 10-year returns are annualized. Yield as of April 30. Sources: Morningstar Direct; State Street they go? B
30 BARRON’S May 18, 2020

Q& A An Interview With Nancy Lazar


Co-Founder, Cornerstone Macro

Betting
On Middle
America
By LESLIE P. NORTON

N
ancy Lazar, one of Wall Street’s most widely
followed economists, admits she was slow to
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grasp the devastating economic impact of the


coronavirus pandemic. Then she pivoted and
updated her macroeconomic forecasts, telling
clients that the unfolding crisis helped but-
tress one of her longstanding themes: Middle
America should be your favorite emerging market. Lazar
is co-founder of Cornerstone Macro, an economic con-
sulting firm; she consistently ranks No. 1 or No. 2 in Insti-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

tutional Investor’s annual rankings of Wall Street econo-


mists. Also named by Barron’s as one of the 100 Most
Influential Women in U.S. Finance, she recently shared
her views about the jobless recovery, the wary consumer,
and the coming boost from onshoring. An edited version
of our conversation follows.

Barron’s: The Nasdaq is near its all-time high, and


we have an unemployment rate that rivals the Great
Depression’s. How do you reconcile the two?
Nancy Lazar: Policy makers did a fantastic job re-
sponding to the crisis. That said, policy can’t stop the
virus, or prevent companies from closing or states from
shutting down. There is a huge lag between the impact
on the economy and the employment backdrop. This
time it is going to be bigger than normal.
Beryl Sprinkel, a famous economist in the 1960s and
’70s, wrote a book in 1964 titled Money and Stock Prices,
which said that before you can see a policy’s impact on
the economy, you must first see it in financial markets.
We have seen the healing of the credit markets in a broad-
based way, even energy. Credit yields are down; high-
quality credit spreads are down. Mortgage rates are back
down to their pre-crisis low. That’s a necessary condition
before you see it in economic activity. There are green
shoots unfolding in the economy as a result of policy. But

Photograph by PHILIP VUKELICH


May 18, 2020 BARRON’S 31

From 2007 to 2019, for the first time since the 1960s, the U.S. savings rate shifted “Onshoring will be the main driver of the investment
significantly, rising from about 4% to 8%. Now, Lazar sees it climbing again, on fears
about job security. In March, it hit 13%. The trend will affect consumer spending. cycle in housing and capital spending” Nancy Lazar

it could be a long time before you see effects of the decline. 10%. In March, it was 13%. That’s probably improves faster than em-
the full effects of policy supporting the classic in a recession. Even when we ployment for a couple of years. Busi-
economy. Where do commodity prices go? come out of this recession, the savings nesses have a lot of uncertainty. Some
The boom in emerging markets, in rate will be elevated. These savings sectors of the economy—the leisure
Still, reinfection risk might be high. particular China, guided commodity trends tend to have 30-year cycles. industry, bricks-and-mortar retail-
The big question mark is the fourth prices for 20 years. China’s economy ers—are having to cut back capacity
quarter. If the infection rate picks up got hit hard in the first quarter, shrink- Repatriation of manufacturing to massively, so why in the world would
in the fall, we’ll have to close things ing by 7%. That was one reason we the U.S. is one of your favorite sub- they rehire everybody they just fired?
down again. Hopefully, the states do it saw a gut-wrenching decline in com- jects. Why? It took six years for payroll employ-
right, opening up slowly and carefully. modity prices, including oil. The oil- We’ve focused on the U.S. manufac- ment to reach its previous peak in the
We call this a wavy recovery. The supply war between Saudi Arabia and turing renaissance for about a decade. prior expansion. It could be that long
country is turning on in waves, and the Russia aggravated declines. The past five years have reinforced again in this expansion.
individual states are turning at differ- Now, China has eased pretty signifi- [the thesis]. First, in the early part of
ent times. You could have a big upturn cantly. It is reopening. You’re seeing the prior expansion, we were bullish What is an investor to do?
in economic data, and then stall out if signs that the economy is incremen- on the manufacturing renaissance The era of emerging markets driving
the virus comes back significantly. tally improving. Oil prices have recov- because China was no longer a com- global growth, and big multinationals
Wavy is the best way for me to describe ered some, reflecting China’s economic petitive place to do business. The U.S. being huge beneficiaries of that, is
what I think we’ll be experiencing. activity and growing signs that the U.S. had become the most competitive over. When I first started in the busi-
economy is going to improve. Oil has place. Second, over the past four or ness in the late 1980s, the economy
In these circumstances, how do you had its ups and downs. They’re cow- five years, other events, in particular had rotated from higher inflation and
develop a GDP forecast? boys and capitalists and over time tend the corporate tax cut, would support higher interest rates to lower inflation
You footnote a lot and highlight that to land on their feet. But longer term, investment back in the U.S. For the and lower rates. It was important for
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these numbers are more susceptible to China is going to grow much more first time in history, our corporate tax investors to embrace that change, and
revision than normal. I was wrong slowly than in the past 20 years. That rate is now as low as China’s. Third, recognize the companies that would
initially, not accepting how bad the hit will keep commodity prices tamer. the trade war and the Covid crisis benefit and the ones that wouldn’t.
could be to the U.S. economy. Over reinforce the theme. Onshoring will be Today, there is another regime
three weeks starting in March, I re- Economic What are your forecasts for China? the main driver of the investment cy- change in global growth. You need to
vised my numbers down dramatically China’s official GDP growth was about cle in housing and capital spending. be a stockpicker, focusing on compa-
as quarantine settled in, to minus 25%
Forecasts 6% in 2019. Our forecast is 2% for this nies that will benefit from incremental
for Q2. Q3 is likely to be up 10%, quar- Nancy Lazar year. The era of China being a strong, Small business has taken a hit. What growth in a jobless recovery. The con-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

ter on quarter, and Q4, up 5%. For the sees U.S. GDP growing economy is over. does this mean for the economy? sumption pattern is shifting to technol-
full year, we see minus 4.7%, year on expanding in the This will be a struggle for countries The small-business community is going ogy, health care, and staples, and there
year. For 2021, we see 4% GDP growth. second half of too tied to China, namely a lot of the to recover incrementally, but it will be a is going to be a shift in consumer
2020, and up emerging market world. We have over- long time before it is again 50% of total spending and an increase in the savings
The Federal Reserve and the gov- 4% in 2021. all EM GDP growth shifting down to employment. The small-business com- rate. A lot of companies will struggle
ernment have poured enormous 2% to 3%. This is healthier for the munity share of total employment with these new consumer behaviors.
sums of money into the economy.
What are the knock-on effects? Minus world. It prevents steep surges in com-
modity prices.
trended from 51% to 49% in the last
expansion, as it lost share to larger
We’re going to get more investment
in Middle America. Companies located
First, had the Fed not reacted so
quickly, what would the economy have 25% The U.S. consumer was 70% of the
companies with pricing ability and
e-commerce. That share will shift lower
in the center part of the country are
going to be the longer-term growers.
looked like right now? It would be Lazar’s estimate U.S. economy before the crisis. in the next expansion. I compare it to Retailers, manufacturers, capital-goods
even more devastatingly weak, and for second-quarter Will that be true afterward? the sharp drop in manufacturing em- companies—when they’re located in
the long-run cost greater. So there are U.S. GDP In the 2010-19 expansion, we saw ployment in 2000 to 2010. It doesn’t the middle, they’re already outper-
positives and negatives. The positive what we call the new, smarter con- mean overall economic activity can’t forming.
would be potentially coming in stron-
ger, sooner, but we will have a very
large government debt burden. Odds
2%
Lazar’s estimate
sumer, who went into the crisis in
2008 and ’09 with too little savings
and too much debt. From 2007 to
recover. It will. Small business, concen-
trated in the leisure and retail indus-
tries, will be a weak spot.
What are your views on interest
rates and the dollar?
are that if we don’t deal with it, Stan- for China’s 2020 2019, for the first time since the 1960s, My colleague Roberto Perli, a fixed-in-
dard & Poor’s will downgrade the U.S. GDP the saving rate shifted significantly, What does this mean for employ- come policy expert, maintains that the
credit rating, as it did in 2011. That will from roughly 4% to 8%. ment? Fed isn’t going to do anything to derail
force the government’s hand. If we can
put in place policies that simultane-
ously support long-run growth, such as
11%
Cornerstone’s
Consumers now have to be more
skeptical about the security of their
jobs and their health, and the ability of
We expect to get some potentially sig-
nificant rebounds in employment as
states reopen. But it is probably led
this potential recovery. As a result,
yields will stay lower for longer. As-
suming the election doesn’t derail the
encouraging capital spending, that will prediction for the the government to be a backstop. For more by larger businesses. We could long-term attractiveness of investing
reduce the headwinds. U.S. savings rate those three reasons, we forecast an- see payroll gains of roughly a million, in the U.S., that is incrementally going
in the next other shift up in the savings rate, to month on month, this summer. But to make the dollar stronger, longer.
Will inflation become an issue? expansion, up 11% in the next expansion. In the first longer term, it is going to be another
The Fed is preventing deflationary from 8% now quarter, the savings rate was close to jobless recovery; economic activity Thanks, Nancy. B
32 BARRON’S May 18, 2020

T E CH T RADER
While Zoom Video Communications fetches 50
times estimated sales for 2020, Cisco trades at a
paltry 3.8 times.

Earnings Lesson:
the same ones that buy Cisco’s net- trades for 3.8 times estimated fiscal
working gear. Cisco doesn’t break out 2020 sales and under 15 times earn-
WebEx revenues, but consider this: ings. Compare that with Zoom, up
WebEx hosted over 25 billion meeting almost 150% this year, trading for

Cisco Still Matters


minutes in April, triple the level in more than 50 times 2020 estimated
February—and more than six times sales, and close to 400 times esti-
the 4.1 billion video meeting minutes mated 2020 profits. Zoom is growing
Microsoft Teams had in April. (Zoom fast, Cisco is shrinking; Cisco makes
declined to provide similar data.) hardware, Zoom is playing in the
Still buying back stock. In an clouds. But remember that those
interview with Barron’s, CFO Kelly clouds are made of routers and

G
eorge Carlin once still sells expensive big-ticket hard- Kramer noted that Cisco remains switches and servers—the cloud does
told a joke about a ware, and the company serves some committed to returning 50% of free not live on software alone.
sportscaster who industries—airlines, hotels, casinos— cash flow to holders in dividends and

G
says, “Here’s a that are in deep trouble. It isn’t reces- buybacks, always buying enough rubhub (GRUB) shares
partial score from sion immune. But, as Evercore ISI stock to offset share issuance to em- spiked 17% this past week
the West Coast: analyst Amit Daryanani wrote in a ployees. But Cisco tries to be opportu- after The Wall Street Jour-
Los Angeles, 6.” post-earnings note, Cisco has ex- nistic with its repurchases, and with nal reported that the food
I thought about that line covering panded into security and software, shares tumbling in February and delivery company is in serious talks
Cisco System’s (ticker: CSCO) April- and those businesses should bolster March, Cisco bought back close to $1 about merging with Uber Technolo-
quarter earnings report on Wednes- By Eric J. Savitz the company during a recession. billion worth of stock at an average gies (UBER).
day. The numbers for the world’s lead- Daryanani thinks Cisco can gain mar- price of $39.71 a share; the stock is Uber Eats is currently the No. 2
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

ing provider of networking hardware ket share in core networking, in part now about 10% higher. Cisco has an- player, behind privately held Door-
were objectively terrible. Revenue was by leveraging its strong balance sheet other $10.5 billion left on its buyback Dash. UberGrub would immediately
down 8% from a year earlier. The out- to support customers. plan; expect them to use it all, and become the new No. 1, leaving Post-
look—pre-Covid 19—had been for a 5G is already helping Cisco. J.P. then some. At a time when some tech mates in a distant third spot. The com-
decline of 1.5% to 3.5%. Cisco sees Morgan’s Samik Chatterjee writes that companies are hoarding cash and bined company would have half the
revenue in the July quarter slipping Cisco is seeing an acceleration in the hunkering down, Cisco vows to pro- U.S. market, including close to 80% of
even more—down around 10%. The deployment of 5G networks. (Qual- tect its dividend, which yields 3.3%. New York City. Consolidation makes
company’s core “infrastructure plat- comm is saying the same thing; see Who needs an office? Cisco has sense in a competitive and not-so-ra-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

forms” business, which includes rout- page 26.) Chatterjee says the trend always let people work from home, tional business, but the path to closing
ers and switches, was down 15% in could also benefit Cisco’s core infra- and it’s in no hurry to bring everyone won’t be easy.
the April quarter and could decline structure business “as customers in- back. Overall, 95% of Cisco’s employ- Food delivery has become the most
more in the July quarter. creasingly acknowledge and refresh ees are working from home. Many essential of services for the nation’s
But those are partial scores. their outdated networks.” tech companies are at that level or restaurants and its homebound citi-
Cisco shares actually spiked 4.5% Who needs Zoom? Cisco acquired higher, and aren’t rushing to reverse zens. Cities are already placing caps
the day after it reported. Because ex- the videoconferencing service WebEx course. Tech companies have histori- on delivery fees. California and other
pectations matter. And because for $3.2 billion in 2007, a deal you cally liked big, showy buildings with states were trying to reclassify deliv-
Cisco—like many of the world’s largest probably forgot about and that Cisco gyms, on-site yoga classes, and cafete- ery drivers as employees before the
technology companies—may actually would have liked to forget about until rias with baristas and macrobiotic virus hit. Given the huge market share
emerge strengthened from the pan- recently, too. While shares of red-hot food. It’s going to take time to unwind UberGrub would have, any deal will
demic. Zoom Video Communications (ZM) all that, but those days are over. Your draw scrutiny from regulators.
Here are six takeaways from Cisco’s have spiked 150% this year on home new office? You are sitting in it. Integration won’t be easy, either.
not-so-terrible quarter: schooling and virtual happy hours, It isn’t just the cloud. Year to Grubub is a collection of brands—
Better off than you think. Cisco WebEx is serving large enterprises, date, Cisco is down 9%. The stock Seamless, Eat 24, and Grubhub, plus a
mashup of college delivery services.
“They face a long, difficult integra-
tion process,” says Todd Holman, a
Cisco paid $3.2 billion for WebEx in director with the tech investment
bank Union Square Advisors. He
2007. The video-streaming business is thinks the complications could prove

Justin Sullivan/Getty Images


tricky, and might actually work in
finally booming. It hosted over 25 bil- favor of DoorDash, which would at
least have one less rival in the field.
lion meeting minutes in April, triple the But that’s assuming Uber and Grub-
hub cut a deal—as of Friday, the com-
February level. panies were reportedly still haggling
over price. B
May 18, 2020 BARRON’S 33

THE EC ONOMY
The average household in the top 1% of income
distribution saves about 40% of income, while the
average in the bottom 90% saves 5% or less.

Trade Wars Are Coming,


relatively less severe, but the data employed or working part-time when
nevertheless show consumer spend- they would prefer to have full-time
ing down about 12% below normal in jobs has been stubbornly higher since

Thanks to the Coronavirus.


March, while manufacturing output the 1970s than it was before, even
was only down by 1%. Taiwan never during booms. The prices of manu-
had a viral outbreak and avoided factured goods and commodities have
shutting down its economy, but fears collapsed relative to average incomes

ToFixIt,ClosetheWealthGap. about catching the virus depressed


consumption sharply in February
and March, even as manufacturing
over the past several decades, even as
U.S. producers have been forced to
operate at lower and lower rates of
production was essentially flat. Even capacity utilization.
in the U.S., where the viral outbreak With the exception of a handful of

T
is still out of control, consumer industries facing particular political
he open global volatility for multinationals exposed spending excluding groceries and constraints (mainly housing, educa-
trading system has to foreign sales. gasoline fell significantly more in tion, and health care), production has
been in trouble for The bigger problem is that the March and April (26%) than did consistently outstripped consump-
years. The corona- pandemic has lowered consumer manufacturing production (18%). tion for decades. The results have
virus could push it demand much more than it has dam- Unless consumption rebounds been job losses and unsustainable
over the edge, and aged productive capacity. It’s much quickly, the world will soon be faced increases in debt. Global depression
if we’re not careful, easier to bring factories back on-line with an unprecedented glut of goods has been avoided only because
the world could see a breakdown of than it is to get customers back into that can’t be sold. Depressed global spending was amplified by borrow-
the international economic and finan- shops and auto dealerships. In China, demand will force producers to fight ing, with the notable exception of
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cial order, as happened in the 1930s. By Matthew C. for example, industrial output fell for larger shares of shrinking mar- 2008-09.
The most obvious impact of the Klein about 18% from December 2019 to kets simply to keep sales stable, As my co-author Michael Pettis, a
virus on trade is that Covid-19 has the trough in February, while retail which in turn will put pressure on finance professor at Peking Univer-
forced governments, businesses, and spending excluding fuel and grocer- governments concerned with pre- sity’s Guanghua School of Manage-
consumers to appreciate the vulnera- ies dropped about 27% on a season- serving jobs and incomes to help ment, and I show in our new book
bilities created by global supply ally adjusted basis. Yet by April, Chi- their local companies at the expense Trade Wars Are Class Wars: How Rising
chains. Shortages of everything from nese manufacturing had recovered of foreign competitors. Inequality Distorts the Global Economy
meat to disinfectant wipes and face almost completely, while consump- The scale of the virus-induced glut and Threatens International Peace
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

masks have been exacerbated by tion was still about 13% below where is new, but the basic mismatch be- (May 2020), the explanation is that
export controls imposed by China, it had been, and even further below tween ample supply and weak de- the world’s rich—and the companies
Europe, and other producers. its prior trend. mand is not. Across the world, the they control—have increased their
Against this backdrop, at least South Korea’s viral outbreak was share of workers who are either un- share of global income at the expense
some manufacturing that had been of everyone else.
offshored in the past two decades In general, the rich, unlike every-
may come back, which should even- Unequal Rebounds one else, do not spend their extra
tually reduce imports and exports. Chinese industrial output has recovered much faster than domestic consumption. money on goods and services that
Some in the government, such as U.S. generate jobs and wages for others.
December 2019 = 100, seasonally adjusted indexes
Trade Representative Robert Light- Instead, they buy assets. Past a cer-
hizer, want to accelerate the reshor- Industrial production excluding construction tain point, there is only so much one
ing process. The virus “revealed our Retail sales excluding foodstuff and petroleum products can buy, no matter how expensive
overreliance on other countries,” 100 your tastes. That’s why the average
Lighthizer recently said in a New household in the top 1% of the in-
York Times column. He wants to come distribution saves about 40%
“remedy this strategic vulnerability… of its income, while the average
by shifting production back to the 90 household in the bottom 90% saves
U.S.” 5% or less of its income. The value of
At the same time, officials who the assets that the rich accumulate,
blame the Chinese government for however, depends on continued in-
the virus, which originated in Wu- 80 creases in spending by people who
han, are considering the use of trade are being paid less and less relative to
and financial sanctions as a form of the value of what they produce. In-
“punishment.” vestments are worthwhile only if
Unless something changes soon, 70 consumption grows to absorb the
trade conflicts between countries will extra supply.
intensify dramatically. In the short December ’19 January 2020 February March April Rising inequality therefore re-
term, that probably means greater Sources: China National Bureau of Statistics; Netherlands Bureau for Economic Policy Analysis; Barron’s calculation quires rising debt. When workers
34 BARRON’S May 18, 2020

O T H E R VO I C E S
Economy Continued

Shrinking Capacity
U.S. manufacturers have been operating at dwindling levels of capacity for decades.
Manufacturing capacity utilization rate
90%
Europe Won’t Tolerate
80
1948-1979
average An ‘America First’ Vaccine
1980-1999
average

2000-2020 By Peter Liese

T
70
average
he novel coronavirus for the better due to strong cooperation by
Actual has the world firmly in the free world. I really hope that coopera-
its grip. Images from tion and solidarity will lead to the develop-
60 northern Italy, Madrid, ment and distribution of a vaccine or a
and New York City have therapy. The U.S. administration must join
1950 ’65 ’80 ’95 ’10 shown that the threat of this international effort.
Sources: Federal Reserve Board (Standard Industrial Classification); Barron’s calculations the virus should not be If Europe is first in developing a vac-
underestimated. Tens of thousands of peo- cine, we are ready to share our knowledge
ple have died because of it. Most countries with the rest of the world and to make the
can’t afford to buy what they make, bor- national order. now face a dilemma: If drastic shutdowns vaccine available to all those in need, as
rowing is necessary to push global de- The good news is that the world is not continue, serious economic and social soon as possible. We expect the same from
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

mand high enough to absorb global pro- destined to endure a zero-sum conflict problems will arise, but going back to nor- the United States. If, however, Trump ap-
duction. Without debt, spending would between nations or economic blocs. Chi- mal life is very dangerous and will risk plies his “America first” principle and ex-
fall, unsold goods would build up as in- nese and Germans are not evil, nor do we tens of thousands of additional deaths. The cludes non-U.S. citizens
ventory, companies would fail, and unem- live in a world where countries can pros- final return to normalcy will be possible from the benefits of a drug If Europe wins
the Covid-19
ployment would rise. per only at others’ expense. The problems only if there is a vaccine or an effective or a vaccine, Europe is not vaccine and
That makes for a fragile system. Econo- of the past few decades do not have their medicine against Covid-19. unprepared. drug race, it
mists Michael Kumhof, Romain Rancière, roots in geopolitical conflict or incompati- The European Union is on the front line Under the legislation of will share the
benefits with
and Pablo Winant found an almost per- ble national characters. Rather, they have of developing this vaccine. Some compa- most European countries, the world.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

fect relationship between rising income been caused by massive transfers of in- nies and laboratories that cooperate with compulsory licensing is It expects
America to
concentration in the U.S. and rising come to the rich and the companies they experts from other parts of the world are possible. That means that do the same
household indebtedness in the 1920s and control. already conducting human clinical trials. European companies can if the U.S.
again from 1980 to 2007. In both cases, The danger is that a global conflict be- European Commission President Ursula produce pharmaceuticals prevails.
the end result was a financial crisis. Simi- tween economic classes within countries von der Leyen led a worldwide virtual even without approval of
larly, economists Atif Mian, Amir Sufi, gets misinterpreted as a series of conflicts summit on cooperation in this area. the owner or its government. In trade is-
and Ludwig Straub recently found that a between countries with competing inter- While public and private stakeholders sues, Europe has shown that we are not
“saving glut of the rich” since the early ests. It happened in the late 19th century from all over the world—including Israel, ready to accept unfair practices. When
1980s financed a borrowing binge by and again in the 1920s and 1930s. Many Canada, Saudi Arabia, the United King- Trump threatened the EU with excessive
everyone else. There would have been no Americans were committed to the bene- dom, and China—pledged more than $8 taxes on European cars, then–European
need for all that debt if the distribution of fits of the open international system at the billion, unfortunately no United States Commission President Jean-Claude
incomes hadn’t become so skewed. start of this year, although the U.S. con- government official participated. Juncker went to the White House with a
Trade lets unequal societies escape the sensus in favor of free trade had already list of products that we could tax, most of

W
unpleasant choice of rising indebtedness begun to fray after the deindustrializa- e are grateful that private them produced in swing states in which
or rising unemployment by dumping their tion, social decay, and debt cycles of the stakeholders, such as the Bill Trump had a narrow majority in the 2016
problem on someone else. Surpluses allow 1990s and 2000s. and Melinda Gates Founda- election. That led to an immediate agree-
the rich in China, Germany, and else- When times are good, absorbing gluts tion, indicated that U.S. citi- ment between the U.S. and the EU.
where to exploit their workers without from the rest of the world may seem a zens are ready to cooperate with the rest of Nobody in the current administration
having to lend to them. Instead, through tolerable burden. But as the coronavirus the world. Even though the United King- should think that the health of our citizens
trade, they can foist their excess produc- wreaks havoc, unemployment skyrockets, dom has left the European Union, British and the possibility of overcoming the major
tion on the rest of the world, particularly and a yawning gap opens up between Prime Minister Boris Johnson rightly said, economic problem linked to the coronavirus
the U.S., which then is forced into some production and consumption across the “We are in this together.” I hope that the are less important to Europe than the Euro-
combination of deindustrialization and world, trade conflict seems increasingly absence of the U.S. government wasn’t an pean car industry. We are for cooperation
borrowing. This is unsustainable—and likely. Investors should get ready. B indication that President Donald Trump and dialogue, but we also have a plan B. B
the recognition that it is unsustainable thinks he should not cooperate.
explains, in part, the rise of populist anti- Parts of this column are adapted from Trade I was born in an economically prosper- Peter Liese is a German physician and member of
globalization movements that have put Wars Are Class Wars (May 2020, Yale University ous and free West Germany. I have experi- the European Parliament. He is the health spokes-
increasing pressure on the postwar inter- Press). Email: matthew.klein@barrons.com enced firsthand how the world can change person for the European People’s Party.
May 18, 2020 BARRON’S 35

MAILBAG
Send letters to Mail@Barrons.com. To be considered for The Readback, a podcast taking you
publication, correspondence must bear the writer’s name, inside the latest stories, is available
address, and phone number. Letters are subject to editing. wherever you listen to podcasts.

you can call it wisdom) of opening turns, shrinkage of the underground This fact will remain constant,
parts of the economy in various economy and reduced tip income will even after the Covid-19 pandemic has
states and countries could make be partially responsible for any passed.
things suddenly, and very drastically, shortfall of the economy. Jonathan I. Shenkman
worse. Failure to admit the influence of West Hempstead, N.Y.
I sense that things are going to get these factors will lead to false criti-
a megabunch more gruesome before cism of existing federal assistance
they get a minuscule bit better. I’m and calls for more generous pro- Yes to Reshoring
positioning my investment plans grams that will add to the federal
accordingly. debt. To the Editor:
Thanks for another excellent piece Richard Walter Although the new strategy of moving
of work. Williamsport, Pa. supply chains and manufacturing
John Wellfare will require capital, it will create jobs
Fremont, Calif. and minimize dependence on foreign
Home, Semisweet Home countries (“Governments Could
To the Editor: Bring Supply Chains Home. It Would
Lisa Beilfuss recognizes that not all To the Editor: Defy Economic Rationality,” Other
small businesses are going to survive It will be fascinating to see how this Voices, May 1).
the economic lockdown imposed to pandemic further impacts the residen- In addition, it will save on trans-
combat Covid-19. tial real estate market (“Coronavirus portation costs and tariffs, and help
She discusses how the reported Has Upended the Real Estate Market. in balancing annual trade deficits of
statistics are understating the full What It Could Mean for the Value of hundreds of billions of dollars.
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

economic hit, but she fails to point Your Home,” May 8). Advances in automation and ro-
out that many of these small busi- Throughout the quarantine, the botics, software and machine learn-

Covid-19’s nesses are what are discretely called


cash businesses, which are not cap-
tured by the official reports.
To put it bluntly, they operate in
home has become even more impor-
tant. It is not only a place to live now,
but also a place to do business.
Many individuals have adapted
ing, and sourcing of parts domesti-
cally will require a smaller inventory,
and will help to lower production
costs.

Economic the underground economy.


To qualify for Paycheck Protec-
well to working remotely and may
elect to continue doing so when life
Priority should potentially be
given to products of national interest,
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

tion Program loans/grants, records returns to normalcy. This will un- such as semiconductors, surveillance

Impact
must be presented. If your business doubtedly have a ripple effect on the equipment, medical instrumentation,
is operating as part of the under- rest of the economy. medicines, etc., to protect intellectual
ground economy, there is no record, One element of home ownership property and to ensure their uninter-
which is why there is no relationship that won’t be impacted by the corona- rupted supply, despite cost gaps.
with a bank through which a loan virus pandemic is that it remains a A key takeaway from the Covid-19
To the Editor: could be obtained. lifestyle choice, not a good invest- pandemic should be for business
Great article—and to me the key point you made is that If there’s no record for the busi- ment. People decide to buy a home leaders and policy makers to think
too many investors, including some of the “big boys,” ness, there’s no record for the em- when they find a satisfactory house about reshoring.
aren’t looking realistically at the true economic impact ployees, either. that they can afford, in a desirable Initially, it will require capital in-
of the pandemic (“Joblessness Is Soaring. Why Are But that’s not the only reason that community. vestment, but in the long run, it will
Stocks Rising?” May 8). this economy might not bounce back After expenses and upkeep costs, lead to economic growth and will
It’s underestimated to a large extent, as you and as quickly as advertised. Another a home is really just a concentrated, generate tax revenue for state and
several others have so clearly pointed out. And when politely ignored facet of this under- leveraged, illiquid bet that may or federal treasuries.
realism truly sets in, I hope Katy is around to bar the ground economy is the impact of tip- may not keep up with the rate of Pradeep Goel
door. ping, which is customary in the hos- inflation. Bellevue, Wash.
As your writer Lisa Beilfuss notes, the lowest-in- pitality, leisure, and personal-service
come earners, who are the greatest consumers in terms industries.
of the share of their income spent, are the ones hurt I’m sure it comes as no surprise to

“I sense things are going to get a


most. Yet it goes even further, as your colleague anyone that not all tips are reported
Reshma Kapadia pointed out in a recent article: More as income. These gratuities are re-
than 50% of households have no buffer, no emergency ceived by those in the lower-wage
savings to see them through part of a crisis.
And yes, those who can are socking away a chunk
of discretionary income. The personal savings rate
groups. So, their wages are higher
than suggested, and while the tips
might not be counted as income, they
megabunch more gruesome before
went from 8.2% in February to 13.1% in March. Telling,
indeed.
do appear as spending.
Once the imposed lockdown is they get a minuscule bit better.”
All of this, and the recent questionable wisdom (if lifted and consumer confidence re- John Wellfare, Fremont, Calif.
36 BARRON’S May 18, 2020

STREET WISE WITH JACK HOUGH

“ We d o n ’ t h a v e a h u g e e v e n t a n d t h e m e
park business. Pre-Covid, I would
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

have loved to have it, but right now,


it’s not the worst thing to be much
more media-focused.”
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

- Bob Bakish

T V ’s S i n k O r S t r e a m M o m e n t

V i a c o m C B S C E O B o b B a k i s h o n s o a r i n g d e m a n d fo r
s t re a m i n g ; w hy a d ve r t i s i n g w i l l c o m e b a c k ; a n d
w h a t m a ke s P l u t o T V t h e c o m p a ny ’s s e c re t we a p o n .

L I ST E N N OW

© 2020 Dow Jones & Company, Inc. All rights reserved. 4E5064
MARKET WEEK
May 11 through May 15, 2020

Euro Trader P. M4 Power Play P. M7


Emerging Markets P. M4 Charting the Market P. M9
Striking Price P. M5 Winners & Losers P. M10
Commodities P. M6 Research Reports P. M11
Inside Scoop P. M7 Market View P. M12
13D Filings P. M7 Statistics P. M13

MARKET PERFORMANCE DASHBOARD

Dow Jones Industrials S&P 500 Nasdaq Composite iShares MSCI China ETF

23,685.42
52-wk: -8.07% YTD: -17.01% Wkly: -2.65%
2863.70
52-wk: +0.15% YTD: -11.36% Wkly: -2.26%
9014.56
52-wk: +15.33% YTD: +0.47% Wkly: -1.17%
60.31
52-wk: +4.56% YTD: -5.90% Wkly: -1.21%

You Don’t Say


2%
Fed Chairman Jerome Powell spooked the
market when he said that the U.S. needed
more fiscal stimulus.
0

-2
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Sleepy Time
Stocks finished higher on a quiet Monday,
marred only by signs of renewed tensions
-4
between the U.S. and China.

Not So Fast
A slump in financials and real estate stocks Comeback Kid
-6
pulled the stock market lower, and not even Stocks were headed for another big loss
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

the Nasdaq could resist. until financial stocks turned higher. Ultimately,
the rest of the market joined them.
-8
Monday Tuesday Wednesday Thursday Friday Close
Source: Barron’s Statistics

W
henever the Oh, the market had plenty of rea- the fact to explain what looks obvious

THE TRADER market


drops, inves-
tors start
sons to fall. Thanks to Covid-19, the
economic data continue to be terrify-
ing—nearly 3 million additional peo-
on the chart. Monday began with the
S&P 500 trying—and failing—to
break its April closing high of 2939.51.
worrying ple filed for jobless claims, retail sales No biggie. The index tried again on
about suffered the largest plunge on record, Tuesday morning, hitting 2945.82
whether the and industrial production cratered. before falling back. And then it kept

Stocks Took floor is really in. They should be wor-


rying about the ceiling instead.
Federal Reserve Chairman Jerome
Powell spoke and threw the stimulus
falling. With that, the ceiling was in.
Having such an obvious resistance

a Dive. Why It was certainly a tough week for


stocks. The Dow Jones Industrial
Average dropped 645.90 points, or
By Ben Levisohn ball back into Congress’s court. Con-
gress, for its part, doesn’t seem in-
clined to bridge the gap between the
level doesn’t mean the market is
heading for a fall. The S&P 500’s
ability to bounce back from early-day
They Could 2.7%, to 23,685.42, while the S&P
500 index fell 2.3%, to 2863.70, and
parties to get something done. Throw
in rising tensions between the U.S.
losses on Thursday and Friday is a
sign that some investors still want to
Head Even the Nasdaq Composite declined
1.2%, to 9014.56. It was the Dow’s and
and China, and not even tech giants
like Apple (ticker: AAPL) and Ama-
buy the dip. But it does make it
harder to see the market heading
Lower. the Nasdaq’s worst week since the
week ended April 3, and the S&P
zon.com (AMZN) could keep the
market afloat.
much higher just yet.
“If [the S&P 500] continues to fail,
500’s worst since the week ended Sometimes, though, the reasons are you’ll hear about topping patterns,
March 20. just what we slap into a column after lower highs, exhaustion, and a lack of
M2 BARRON’S May 18, 2020

momentum,” says Frank Cappelleri, a tech- two sides can’t agree on a plan, they risk a
nical analyst at Nomura Instinet. “Hoover moment,” says Jared Woodard,

IBKR’s Award-Winning But that top could be more impenetrable


now that tensions between the U.S. and
China are heating up again. The week
investment strategist at BofA Securities.
“When the government requires a shut-
down of economic activity, the logical corol-

Trading Tools started with reports that the Trump admin-


istration wants to prevent the federal gov-
lary is for the state to provide the support
for what’s lost,” he says. “If it’s a quarter of
ernment’s Thrift Savings Plan from allow- GDP, so be it. If it’s two quarters, so be it.
ing savers to invest in Chinese stocks. By The alternative is a depression.”
the end of the week, the administration Woodard doesn’t think it gets that far,
announced that it would limit the ability of but the S&P 500 may have to take a 7.5%
China’s Huawei Technologies to get the slide to 2650 before the two parties come

Starting at parts and technology it needs from over-


seas suppliers.
together to make a deal.
And if they can’t? Then we can start
“The Huawei restrictions will be viewed worrying again about whether the bottom

0
as a shot across China’s bow,” says Dave will be retested.
$ Donabedian, chief investment officer at
CIBC Private Wealth Management. “That’s 4 Ways to Play a Value Resurgence
going to be difficult for the market to man- Value stocks have been anything but val-
age over the next several months.” ues in recent years. They may be worth a
Commissions The focus, however, remains on the im-
pact that Covid-19 is having on the U.S.
look now.
Betting on a rebound in value shares
economy. As the country reopens, we know hasn’t been a winning strategy amid the
on US listed that some of the data will start to look bet- coronavirus crisis. All stocks got hit when
1 ter. The risk is that lawmakers might look the market tumbled into a bear market.
stocks and ETFs at that data and feel as if the current stimu- But even as the S&P 500 made back large
lus has already done enough. chunks of its losses—it has gained 26%
For instance, when April’s personal in- since March 23 and is down just 12% in
come numbers are released at the end of 2020—value stocks have languished. The
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

May, they likely will show that total income $450 million Invesco S&P 500 Pure
surged even as job losses spiked, due to Value exchange-traded fund (RPV) has
government checks and expanded unem- risen 24% since March 23 and is still down
ployment benefits. 40% in 2020. This dog is still waiting for
Those programs will expire, though, and its day.
when they do, it’s unlikely that enough jobs That may be about to change, even if the
will have returned to make up for the dif- stock market sells off again. Value stocks
ference, explains Aneta Markowska, an are looking very, very cheap relative to ev-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

economist at Jefferies. “Policy makers may erything else, and they could benefit from
be winning the race for now, but without the trillions of dollars being pumped into
additional fiscal support, Covid-19 will be the economy by Congress and the Federal
back in the lead by the middle of the sum- Reserve. If ever the time was ripe for the
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whether another package is needed. If the value stocks have all underperformed the

Vital Signs
Friday's Week's Week's
Close Change % Chg. Last Week Week Earlier
DJ Industrials 23685.42 -645.90 -2.65 NYSE Advances 498 2,167
DJ Transportation 7761.00 -571.50 -6.86 Declines 2,538 871
DJ Utilities 744.49 -19.62 -2.57 Unchanged 28 26

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NYSE Comp. 10947.32 -407.02 -3.58 Av Daily Vol (mil) 5,493.3 4,998.4
NYSE Amer Comp. 1823.13 -93.11 -4.86 Dollar (Finex spot index) 100.37 99.73
S&P 500 2863.70 -66.10 -2.26 T-Bond (CBT nearby futures) 180-300 179-220
S&P MidCap 1578.26 -97.92 -5.84 Crude Oil (NYM light sweet crude) 29.43 24.74
Member - NYSE, FINRA, SIPC – Any trading symbols displayed are for illustrative purposes only and are not S&P SmallCap 712.38 -58.49 -7.59 Inflation KR-CRB (Futures Price Index) 124.75 124.74
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May 18, 2020 BARRON’S M3

Industry Action
Performance of the Dow Jones U.S. Industrials, ranked by weekly percent change.*
THE S&P 500 DIVIDED INTO 11 SECTOR ETFS
Health Care 1.06%
–0.94 Consumer Services
–1.29 Technology
–2.41 Consumer Goods
–3.12 Utilities
–3.73 Basic Materials
–4.24 Telecommunications
–4.94 Industrials
–5.84 Financials
–7.57 Oil & Gas

* For breakdown see page M32. Source: S&P Dow Jones Indices

S&P 500 year to date, with no exceptions. Even before the Fed took any real action,
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That kind of underperformance has made the credit markets started thawing last
some investors wonder if value investing, a month, and the difference between yields or call 1-866-SECTOR-ETF
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To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

ability and more debt than expensive peers. Investors inclined to play a potential ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is distributor for the Select Sector SPDR Trust.
But they aren’t in particularly bad shape value bounce have plenty of options to
today compared with the past five decades. choose from. The Invesco Pure Value ETF,
Investors are simply underpaying “more for one, lives up to its name. It offers
than usual” for what they hate, Asness deeper discounts—at just nine times earn-
says, and that mispricing is ubiquitous ings compared with the S&P 500’s 20
across different sectors, market caps, and times—and potentially higher returns if
value metrics. things turn around. Its top holdings in-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

In fact, Asness notes that valuation clude Berkshire Hathaway (BRK. B),
spreads between the market’s cheapest and Kroger (KR), and Centene (CNC). One
most expensive stocks are now stretched to downside: The fund is highly concen-
historical levels—wider even than during trated, with nearly one-third of its portfo-
the tech bubble and the financial crisis.
And even after excluding expensive mega-
lio in financials.
For investors who prefer their value bet
Manage Your Barron’s
cap stocks in certain industries, the mis-
pricing in cheap stocks still holds. The up-
to look more like the market, there is the
$155 million Fidelity Value Factor ETF Account Online
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than now to invest in value stocks. in line with the overall market. It has tech
“It has certainly been excruciating get- giants Microsoft (MSFT), Apple, and Am- Update your account details any time.
ting here, but here we are, and it’s never azon among its top holdings, and it trades It’s quick and easy.
looked cheaper looking forward,” Asness at 13 times earnings. The fund has lost just
wrote earlier this month. “This is where 20% year to date, better than most peers in • Place delivery holds
long-term investors make their bones.” the category. • Change an address
What’s needed is a catalyst, says Wells Unlike the Invesco Pure Value ETF, the
• Report an issue
Fargo analyst Chris Harvey, and it might $45 billion Vanguard Value ETF (VTV)
already be here—the Fed. and the $15 billion iShares S&P 500
• Update your payment information
Value stocks are generally more reliant Value ETF (IVE) don’t exclude companies • Reset your password and more
on debt to fund themselves. When the with growth characteristics as long as they
credit markets started to freeze up in trade at relatively cheap prices. Both funds
March, it was fair to wonder if these com- currently have about 20% exposure to the Take action at customercenter.barrons.com
panies would be able to survive the health-care sector, with some of the top and avoid call wait times.
crunch. But once the Fed started support- holdings, including UnitedHealth Group
ing the markets—including its plan to buy (UNH) and Johnson & Johnson (JNJ),
the bonds of investment-grade companies sporting a valuation of 17 to 18 times earn-
that had been cut to junk—the bottom for ings. The Vanguard and iShares funds have © 2020 Dow Jones & Co., Inc. All rights reserved. 2E7838
value was in. both tumbled 22% this year. — Evie Liu
M4 BARRON’S May 18, 2020

EUROPEAN TRADER E M E R G I N G M A R K E TS
Rolls-Royce Stock Loses Next Amazon or Alibaba
Some of Its Steam May Be in Latin America
By Rupert Steiner of £810 million for 2019, up from £631 By Craig Mellow panic earlier this year, and it looks like a
million on revenues of £15 billion. But good one. The shares have bounced 50%

R I
olls-Royce Holdings, which CEO Warren East told Barron’s that the magine you could turn back time from late March lows.
sells turbines and engines for company is taking “swift action” to adapt and buy Amazon.com shares seven A third rival in Brazil that risks be-
passenger jets and military air- to the impact of Covid-19 on its civil aero- years ago or Alibaba five years ago. coming an also-ran, to judge by market
craft, had turned a corner fol- space operations, while drawing on the Today, you can sort through a hand- sentiment, is StoneCo (STNE). It focuses
lowing a string of profit warnings and “resilience” of its defense business and ful of budding Latin American e-com- its payments and lending services on
bribery allegations from 2016. looking for a postpandemic boost in merce companies that are getting a boost larger retail outlets that could prove less
These allegations were investigated on power systems in areas such as the as Covid-19 keeps consumers away from resilient in a Covid-induced recession,
both sides of the Atlantic and resolved backup power-generation market. brick-and-mortar stores. Murthy says. Shares have barely recov-
after Rolls-Royce (ticker: RR.UK) reached “The synergies between our divisions Some 625 million people live between ered from their March free-fall and are
a legal agreement with the U.S. Depart- leave us well placed to capitalize on the Tierra del Fuego and Texas, with per off by nearly half year-to-date. StoneCo
ment of Justice and the United Kingdom’s long-term potential of all our markets,” capita incomes similar to China’s. But laid off 20% of its staff on May 12.
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Serious Fraud Office. he says. “The world on the other side of online penetration by various measures But the company has its supporters,
After sinking to a low of 529 pence in this pandemic will need the power that is less than half of Chinese levels. Most including Warren Buffett’s Berkshire
February that year, the shares recovered, we generate to fuel economic recovery, retail payments are still made in cash. Hathaway (BRKB), which owns 8%. An-
almost doubling to 981 pence in February and I absolutely believe the call for that That spells golden opportunity for the other fan is Jeff Cantwell, senior equity
2019 on its ambitious low-carbon plans. power to be more sustainable and lower region’s marquee tech company, Merc- analyst at Guggenheim Partners. “Stone is
But by the end of last year, they had carbon will be as strong as ever. This adoLibre (ticker: MELI), says Sudarshan certainly challenged by the macro situa-
slid to 686 pence, after the company re- plays to our strengths.” Murthy, a senior analyst at fund manager tion, but will emerge on the other side as a
vealed in November a plan to resolve The Rolls-Royce name came from an GQG Partners. Shares in the online mar- sustained share-gainer,” he says.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

problems with its Trent 1000 engine, electrical and mechanical business set up ketplace, which is headquartered in Ar- Investors in all three companies must
which would cost 2.4 billion pounds ster- by Henry Royce. He built his first automo- gentina but does most of its business in consider that Brazil is no China. The na-
ling ($2.9 billion)—more than the £1.6 bile in 1904, and teamed up with salesman Brazil, soared by a quarter since it an- tion of 210 million has struggled to grow
billion initially forecast. Charles Rolls to produce cars under the nounced first-quarter results May 4, for a consistently since the 2008 financial
The impact of coronavirus has caused Rolls-Royce badge. At the start of World 35% gain year-to-date. crisis. A chaotic response to Covid-19,
the stock to plunge to 279 pence. The engi- War I, the government asked it to move Investors loved that revenue kept ris- rooted in President Jair Bolsonaro’s de-
neering group makes a significant portion into aero engines. In 1971, the firm ran out ing despite darkening pandemic clouds, nial of its dangers, probably won’t help.
of earnings from maintenance contracts for of money and was nationalized. Two years and that it kept shifting from merchan- Expansion beyond Brazil to Latin
its engines, and if aircraft are grounded, later, the U.K. government floated the car dise commissions to payments and other America’s No. 2 market, Mexico, is also
regular maintenance isn’t needed, reduc- business on the London Stock Exchange, financial services—a higher-margin, lon- daunting, as U.S. online incumbents
ing earnings. While this will be a short- and it was taken over by Bayerische Mo- ger-runway endeavor. The market looked should present much stiffer competition
term issue—and some analysts see the low toren Werke (BMW.Germany) in 2003. past a net loss to future prospects. “They there. “MercadoLibre has no chance of
share price as a buying opportunity—the The engine business was floated in 1987. have an incredible opportunity to become winning the Mexico business,” Invesco’s
impact of this and the Trent 100 problem Rolls-Royce may announce as many as the default payments company in Latin Leverenz predicts. “Amazon [AMZN] is
are a double whammy that means the 8,000 job cuts by the end of the month, America,” Murthy says. free to operate there because of the free-
stock is best avoided in the short term. according to news reports, because Boe- One obstacle in MercadoLibre’s way is trade agreement, and WalMart [WMT]
Research firm Vertical downgraded ing (BA) and Airbus (AIR.France) re- Sao Paulo-based PagSeguro Digital has a huge presence through WalMex
Rolls-Royce from Hold to Sell in a March quire fewer engines. Separate from the (PAGS), whose Square-esque mobile pay- [Walmex.Mexico].”
note, discounting the stock by 14%, to 240 pandemic, it will take a few years to re- ment systems dominate point-of-sale for Despite those broad caveats, Latin
pence. Analyst Robert Stallard wrote that solve the issue of premature wear on the Brazil’s archipelago of mom-and-pop America may prove to be the sleeping
Rolls-Royce looks vulnerable: “This is a turbine blades of the Trent 1000 engine, shops. giant of digital commerce, and Covid-19
company that was not in the best of finan- used in Boeing’s 787 Dreamliner. “PAGS provides payment solutions to the prod that stirred it awake.
cial shape before this down cycle hit.” Rolls-Royce’s defense business is sta- five million micro-merchants in Brazil, “It took a pandemic to get LatAm
The firm, which has a market value of ble because government budgets have half of whom never worked with banks,” more online,” says Kevin Carter, founder
£5.4 billion, fetches a pricey 43 times this remained steady, but its commercial busi- says Justin Leverenz, chief investment of the Emerging Markets Internet &
year’s expected earnings and trades at a ness will be in turmoil for some time. officer for developing market equities at Ecommerce exchange-traded fund
considerable premium to its peers. Investors would be best to power away Invesco. PagSeguro was his biggest pur- (EMQQ). At least it’s worth keeping an
In February, it posted operating profit from the stock for now. B chase during the corona-induced markets eye on the top companies. B
May 18, 2020 BARRON’S M5

T H E ST RIKING PRI CE
Anyone who uses historical trends to predict
earnings will likely lag analysts who can evaluate
strategic changes at individual corporate levels.

Peloton, Morgan Stanley, Equity Options

Other Covid-Era Stocks CBOE VOLATILITY INDEX


VIX Close VIX Futures

90
THE EQUITY-ONLY PUT-CALL RATIO
Put-Call Ratio S&P 500 Index

315
285
70 255
225
By Steven M. Sears national (BAX), Iqvia Holdings (IQV), 195
50
Boeing (BA), Parker Hannifin (PH),

T
165
he great reckoning has begun on United Rentals (URI), Whirlpool (WHR), 135
Wall Street. Peloton Interactive (PTON), T-Mobile US 30 105
Investors are sifting through (TMUS), Twitter (TWTR), and Western 75
the economic rubble of this new Digital (WDC). J J A S O N D J F M A M 10 J J A S O N D J F M A M 45
recession to identify winners and losers in Consider Peloton. The bank is telling Daily Values Source: CBOE Source: McMillan Analysis Corp.
an economy that has rapidly split into a clients that the Covid-19 crisis has perma-
stay-at-home virtual one and a traditional nently accelerated new and expanding exist- SPX SKEW NDX SKEW
physical one. The bifurcation creates spe- ing categories of connected fitness products. Implied volatility % Implied volatility %

cial challenges for one of the Street’s most New competitors and shifting tastes are a 17% 16%
popular business lines: wagering on stocks risk, but Goldman analyst Heath Terry sees 16 15
ahead of earnings. the window of challenge closing and calls 15
14
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

“Complexity obscures new underlying Peloton underappreciated, with high profit 14


13 13
trends,” Goldman Sachs derivatives strate- margins and a low-churn subscription busi-
gist John Marshall wrote in a recent note. ness. The stock has advanced 71% this year, 12 12
11 11
The Covid-19 recession is more complex but Terry sees an additional upside of 43%.
10
than a normal one because the virtualization Goldman advised clients to consider buy- 10
9
of businesses, lockdowns, government aid, ing the October $50 call option that covers 8 9
and changes in supply and demand are pull- August earnings. With Peloton’s stock at 7 8
J J A S O N D J F M A M J J A S O N D J F M A M
ing at short- and long-term profitability. The $48.42, the call cost $9. If the stock is at $65 Source: Credit Suisse Equity Derivatives Strategy Source: Credit Suisse Equity Derivatives Strategy
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

usual tools for evaluating risk and opportu- at expiration, the call is worth $15. The trade Skew indicates whether the options market expects a stock-market advance or decline. It measures the difference
nity are thus less helpful, Marshall said. fails if the stock is below the strike price at between the implied volatility of puts and calls that are 10% out of the money and expire in three months. Higher
readings are bearish.
Anyone who uses historical trends to expiration. During the past 52 weeks, shares
predict earnings will likely be slow to adjust have ranged from $17.70 to $49.68. Week's Most Active
to the new realities and lag behind analysts Company Symbol Tot Vol Calls Puts Avg Tot Vol IV %ile Ratio
who can evaluate strategic changes at indi- Morgan Stanley is also better situated CymaBay Therapeutics CBAY 33904 17808 16096 232 96 146.1
vidual corporate levels, he added. than understood. The stock is down 27% Allogene Therapeutics ALLO 12442 3954 8488 184 100 67.6
If he’s right, it means that a change is this year, but Goldman analyst Richard Babcox & Wilcox BW 3311 3244 67 76 100 43.6
Northern Oil & Gas NOG 49239 48524 715 1432 96 34.4
under way in the very nature of the stock Ramsden calls it the best-positioned bank Equitrans Midstream ETRN 21086 11550 9536 836 87 25.2
market and how participants make invest- in a recession and able to withstand inter- VectoIQ Acquisition VTIQ 328231 254263 73968 18396 92 17.8
ment decisions. Rather than simply buy a est rates at zero. He notes that the bank’s Health Catalyst HCAT 4518 4349 169 260 47 17.4

low-cost index fund, investors may increas- net interest income—essentially what PagSeguro Digital PAGS 77078 71140 5938 5296 95 14.6
Dynatrace DT 20674 14498 6176 1496 68 13.8
ingly favor individual stocks. banks earn and pay on loans and interest- 8x8 EGHT 80557 69659 10898 5936 94 13.6
Still, stocks in the S&P 500 index have rate accounts—is about 10% versus a 50% New Relic NEWR 13428 10474 2954 1036 93 13.0
moved 4.2%, up or down, over the past eight average for the group. The loan business is Altimmune ALT 21714 20393 1321 1724 70 12.6
Datadog DDOG 255257 185405 69852 22104 49 11.5
quarters on the day earnings are reported. similarly only 15% of its balance sheet,
Minerva Neurosciences NERV 17999 5500 12499 1588 100 11.3
So far this earnings season, stocks have compared with 40% for the group, which Remark MARK 102665 91895 10770 9936 100 10.3
made the same moves, suggesting investors shelters it from loan losses. Progyny PGNY 7010 5301 1709 804 45 8.7
have yet to adjust to the new realities. Ramsden sees the stock gaining 22% over Upwork UPWK 42866 33937 8929 5172 89 8.3
Heathpeak Properties PEAK 7138 4205 2933 884 97 8.1
Goldman has identified 12 stocks that the the next 12 months because of its lower inter- Cassava Sciences SAVA 24257 19450 4807 3072 97 7.9
bank’s analysts are confident will report est-rate risk and attractive valuation. Cardlytics CDLX 19537 14952 4585 2516 65 7.8
earnings over the next year that are better Goldman advised clients to consider buy- This table of the most active options this week, as compared to average weekly activity – not just raw volume. The idea is that the
than the Street expects. They have average ing the September $39 call. With the stock at unusually heavy trading in these options might be a predictor of corporate activity – takeovers, earnings surprises, earnings pre-
announcements, biotech FDA hearings or drug trial result announcements, and so forth. Dividend arbitrage has been eliminated. In
earnings-per-share upsides of 17% in the $37.29, the call costs $3.30. If the stock is at short, this list attempts to identify where heavy speculation is taking place. These options are likely to be expensive in comparison to
their usual pricing levels. Furthermore, many of these situations may be rumor-driven. Most rumors do not prove to be true, so one
next quarter and 15% over the next year, $48 at expiration, the call is worth $9. The should be aware of these increased risks if trading in these names
according to the bank’s analysts. trade fails if the stock is below the strike Ratio is the Tot Vol divided by Avg Tot Vol. IV %ile is how expensive the options are on a scale from 0 to 100.
Goldman’s picks include Allstate (ticker: price at expiration. During the past 52 weeks, Source: McMillan Analysis

ALL), Morgan Stanley (MS), Baxter Inter- shares have ranged from $27.20 to $57.57. B
M6 BARRON’S May 18, 2020

COMMODITIES
Uranium Prices Rally as
Barron’s would like to recognize the members of
the 2020–2021 Executive Committee of
Covid-19 Hits Production
the Money Management Institute
By Myra P. Saefong supply is needed even during tough eco-
nomic times.

U
Marilee Ferone, Chair ranium has outperformed major With uncertainty over when these
commodities this year, even as mines, including Cameco’s (ticker: CCJ)
Advisors Asset Management
the energy sector has suffered Cigar Lake, the world’s highest grade ura-
from a drop in petroleum de- nium mine, might return, “producers have
Troy Thornton, Chair-Elect mand tied to the coronavirus pandemic. become buyers, and prices have surged,”
Goldman Sachs The crisis was a “black swan event” that Freebairn says.
pushed supply-demand fundamentals into All of this comes nine years after mas-
Keith Glenfield, Treasurer a “structural shortfall,” says Scott Melbye, sive tsunamis created by the strongest-ever
Bank of America executive vice president at Uranium En- recorded earthquake in Japan flooded the
ergy Corp. “Substantial global uranium Fukushima Daiichi power plant, leading to
Eric Koestner, Secretary mine disruptions” due to Covid-19 health the one of the worst nuclear disasters in
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Edward Jones and safety precautions provided a “tipping history and expectations of nuclear
point” for a market that went through power’s demise. Globally, nuclear output
Jennifer Abate, Chair Emeritus years of rebalancing in the wake of de- has recovered to pre-Fukushima levels,
pressed prices. with contributions from China, Russia,
Lazard Asset Management
Going into 2020, global nuclear utilities and South Korea, says Bruno Brunetti,
were expected to require roughly 182 mil- head of global power planning at S&P
Steve DeAngelis lion pounds of uranium concentrate to run Global Platts Analytics.
FS Investments reactors for the year, while expected global In the U.S., the Nuclear Fuel Working
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

mine production was seen at 142 million Group released a report in April detailing
Jim Devaney pounds, he says. The pandemic has af- policies to revitalize the U.S. nuclear en-
PGIM Investments fected 50% of global uranium mine supply, ergy industry, including the establishment
or over six million pounds a month, so of a uranium reserve. President Donald
Jeff Dowdle even a three-month loss would push pro- Trump’s fiscal year 2021 budget had in-
Raymond James Financial duction down to just over 120 million cluded $150 million for the Energy Depart-
pounds this year, he says. ment to purchase uranium from domestic
The expected supply shortfall led to a suppliers, says Jonathan Hinze, president
Cheryl Nash
price rally. Weekly spot uranium prices of UxC.
Tegra118
stood at $33.40 a pound as of May 11, up Hinze says the reserve wouldn’t have
nearly 40% from this year’s low of $24.10 much, if any, impact on uranium prices
Anne Steer in mid-March, according to data from nu- because the U.S. isn’t producing much.
Congress Asset Management clear research and analysis provider UxC. Government data show domestic uranium
On the New York Mercantile Exchange, concentrate output in the first quarter was
Jake Tuzza uranium futures settled at $33.45 a pound down 86% from a year earlier. The U.S.
Voya Investment Management on May 14, nearly 34% higher year to date. also won’t be drawing from global com-
By comparison, U.S. benchmark crude mercial uranium supplies, he says.
Craig Pfeiffer futures prices have lost almost 55% so far Still, supplies overall are getting tighter,
Money Management Institute in 2020. with inventories drawn down more rapidly
As production declines, uranium de- because of the production suspensions,
mand remains “relatively inelastic,” says and utility demand remaining mostly
William Freebairn, senior managing editor steady, he says. Spot uranium prices have
Trusted leadership is more critical than ever at S&P Global Platts. “The end-users are already seen a “rapid increase,” so it’s pos-
nuclear plants, which typically operate at sible the market won’t see the same quick
Advancing the Future of Investment Advice and Solutions full power whenever they can, regardless rise in the coming months. But “as long as
of demand or price of electricity.” Uranium producers continue to purchase uranium
must also be “secured up to two years be- to cover supply shortfall, the price will
fore it is needed in a reactor,” so a steady remain on an upward trajectory.” B
May 18, 2020 BARRON’S M7

I N S I DE SC OOP
agreement, an Alexion subsidiary POWER PLAY
will begin an $18 cash tender offer

Funds Say
for each Portola share. Alexion
itself will then acquire any remain-
ing, untendered shares at the same
price through a merger.

It’s Time to
Harvard and Princeton Increases in
Holdings Leave Home
Split on Uber Stock Avid Technology (AVID)
Impactive Capital increased its
By CARLETON ENGLISH

H
holding in the digital-media plat- edge funds are betting that
form provider to 4,356,011 com- the stay-at-home play is
ByED LIN when it said that the Uber Eats food- mon shares, including 8,960 re- over.

T
delivery operation saw a surge in busi- stricted shares tied to Impactive Unsurprisingly, stocks of
wo prestigious U.S. univer- ness, and that there was a recovery co-founder Christian Asmar, an companies catering to people work-
sities went opposite ways under way in the rides segment. Also, Avid director. Impactive pur- ing and entertaining at home, such
on ride-hailing company Uber reportedly made an offer to buy Harvard increased chased 460,566 shares from as Zoom Video Communications
Uber Technologies food-delivery firm Grubhub (GRUB). its direct March 18 through May 6 at prices (ticker: ZM) and Netflix (NFLX),
(ticker: UBER). Princeton Harvard Management Co., which ownership of ride- ranging from $5.62 to $6 each. Im- have soared over the last few
University’s endowment oversees the university’s endowment, hailing firm Uber pactive first reported an 8.5% in- months while travel and restaurant
sold one million Uber didn’t necessarily buy Uber stock on the Technologies by terest at the end of last August. companies have tumbled.
shares in the first quarter, while the open market. It could have acquired the one million shares, After its latest stock purchases, But new data from PivotalPath, a
manager of Harvard’s coffers acquired shares from other sources, including while Princeton Impactive now holds 10.1% of hedge-fund research and intelli-
one million shares. As of March 31, in-kind distributions and donations. sold the same Avid’s tradable stock. gence firm, show that hedgies are
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Princeton directly owned 51,300 Uber HMC and Princeton University In- number of shares. tiring of the trade, taking profits
shares; Harvard had 2.8 million shares. vestment Co. both declined to comment from the winners, and sticking
Unlike many stocks, Uber shares
weathered the volatile first quarter
for this article.
Harvard also sold in the first quar- Decreases in with the so-called losers, which
have plunged 49% year to date
well. The S&P 500 index slid 20% in
the first three months of 2020, while
Uber stock slipped only 6.1%. So far in
ter all of the roughly 200,000 shares of
online travel agency Booking Hold-
ings (BKNG) that it held at the end of
Holdings through April; the winners popped
39.5%.
Hedge funds “view the recent
the second quarter, Uber has gained 2019. Shares have lost a third of their Seattle Genetics (SGEN) rally in the ‘stay at home’ theme as
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

enough now to be up several percent- value this year. Princeton, also in the Baker Brothers lowered its posi- temporary and think there will be a
age points for the year to date, while first quarter, exited a 10,900-share tion in the biotech to 49,365,277 reversion to the mean as the econ-
the index is down about 10%. position in the hot plant-based-burger shares, inclusive of 96,578 shares omy reopens,” PivotalPath wrote in
Uber got a boost earlier this month firm, Beyond Meat (BYND). B that underlie options. Baker Broth- a report shared with Barron’s. Also,
ers sold 1,058,316 shares at prices hedgies are becoming skeptical of
ranging from $158.50 to $167.21 the lofty valuations of home-bound
apiece from May 6 through May 8. plays such as Zoom and Slack
No reason was given for the sales. Technologies (WORK), given that

Original Filings and other shareholders regarding a


number of operational, strategic, and
governance issues.
Baker Brothers now holds 28.5% of
Seattle Genetics’ tradable stock.
not all users pay for the service and
that they face stiff competition from
other platforms.
Macy’s (M) Tivity Health (TVTY) Just this week fund titan David
Vesa Equity Investments, an Portola Pharmaceuticals Hudson Executive Capital re- Tepper told CNBC that this stocks
investment vehicle for Czech bil- (PTLA) These disclosures are vealed on May 11 that it trimmed an market is “maybe the second-most
lionaire Daniel Kretinsky, revealed Magnetar Capital disclosed an ini- from 13Ds filed with investment in the firm that owns overvalued...I’ve ever seen,” draw-
the Securities and
a new investment in the retailer tial position in the commercial-stage Exchange Commission.
fitness program SilverSneakers and ing comparisons to the exuberance
equal to 15,536,538 shares. All biopharmaceutical firm of 4,106,528 13Ds are filed within weight-management brand Nutri- of 1999. Tepper’s remarks came one
shares were purchased from April shares. Shares were purchased “for 10 days of an entity’s system. Excluding a more modest day after fellow hedge-fund legend
attaining more than
14 through May 1 at per share purposes of receiving the merger con- 5% in any class of a option transaction, Hudson Execu- Stanley Druckenmiller told the
prices ranging from $4.83 to $6.03. siderations.” On May 5, Portola said company’s securities. tive sold 3,960,000 shares on May Economic Club of New York that
Vesa now holds 5% of the com- it agreed to be bought by Alexion Subsequent changes 7 through a block trade sale at “risk-reward for equity is maybe as
in holdings or inten-
pany’s tradable stock and noted Pharmaceuticals (AIXN) for $18 per tions must be re- $12.20 apiece. No reason was given bad as I’ve seen it in my career.”
that it “acquired the securities for share in cash. On May 5 and May 6, ported in amended for the divestiture that leaves Hud- What’s in PivotalPath’s basket of
filings. This material is
strategic investment purposes.” Magnetar bought all shares at prices from May 7 through
son with a 9.9% interest in Tivity’s “losers”? Hard-hit names including
Vesa “intend[s] to engage in con- of $17.71 to $17.91 each, giving it a May 13, 2020. Source: outstanding stock, equal to Delta Air Lines (DAL) and Carni-
structive discussions” with Macy’s 5.2% interest in Portola. Per the InsiderScore.com 4,795,310 shares. val (CCL). B
M8 BARRON’S May 18, 2020

SHAPE THE NEW TECH


INVESTMENT LANDSCAPE.
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SPEAKERS INCLUDE:
Ken Chenault
Chairman and Managing Director, General Catalyst;
Chairman and CEO, American Express (2001-2018)
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Stacey Cunningham
President, NYSE Group

Henry Ellenbogen
Partner and CIO, Durable Capital Partners; CIO for
U.S. Equity Growth, T. Rowe Price Group (2010-2019)

and more

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May 18, 2020 BARRON’S M9

Charting the Market


A graphic look at selected stock activity for the week ended May 15, 2020 n Edited by Bill Alpert
QUALCOMM AMC ENTERTAINMENT HOLDING APPLIED MATERIALS AURORA CANNABIS
QCOM (NASD) • 75.77 • -4.79 83.0 AMC (NYSE) • 4.52 • 0.42 7 AMAT (NASD) • 52.04 • -1.77 56 ACB (NYSE) • 11.20 • 3.14 14.0
 A Commerce Department 80.5  A British paper reported 6  April-quarter sales were 54  After a 12-for-1 reverse 11.5
ban on business with 78.0 a rumor that Amazon.com 5 weaker than expected for the 52 split, the Canadian pot pro- 9.0
China’s Huawei deprives 75.5 had held takeover talks with 4 seller of chip-making gear, 50 ducer reported a $33 million 6.5
Qualcomm of a potential 73.0 the struggling chain of 3 but it sees improvement 48 cash loss on sales of $54 4.0
customer and may slow the M T W T F movie theaters. Neither M T W T F ahead. Friday’s ban on sales M T W T F million for its March quar- M T W T F

rollout of 5G wireless. company commented. to Huawei will hurt, though. ter. Investors feared worse.
Stock Price $ Stock Price $ Stock Price $ Stock Price $
98 17.5 71 108
90 14.0 64 87
82 10.5 57 66
74 7.0 50 45
66 3.5 43 24
58 0.0 36 3

Volume in Millions Volume in Millions Volume in Millions Volume in Millions


170 146 78 132
85 73 39 66
0 0 0 0
M J J A S O N D J F M A M M J J A S O N D J F M A M M J J A S O N D J F M A M M J J A S O N D J F M A M

NOVAVAX GRUBHUB WIX.COM QUIDEL


NVAX (NASD) • 43.63 • 24.90 47 GRUB (NYSE) • 54.97 • 8.15 67.0 WIX (NASD) • 201.78 • 41.83 209 QDEL (NASD) • 197.27 • 38.67 211

 A $388 million grant will 40  The Wall Street Journal 60.5  The website-hosting plat- 195  Federal regulators gave 198
help fund clinical trials of 33 reported that Uber Tech- 54.0 form said revenue rose 24% 181 emergency authorization to 185
the firm’s experimental vac- 26 nologies was in talks to buy 47.5 in its March quarter, nar- 167 the company’s test for 172
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cine against Covid-19 and 19 its rival in food delivery. 41.0 rowing its “adjusted” loss to 153 Covid-19 antigens. Quidel 159
M T W T F M T W T F M T W T F M T W T F
jump-start manufacturing Grubhub says the industry one cent a share. Covid is said it will soon be able to
by year-end 2020. should consolidate. boosting demand, it said. make a million tests a week.
Stock Price $ Stock Price $ Stock Price $ Stock Price $
48.5 95.5 212 215
39.0 82.0 185 182
29.5 68.5 158 149
20.0 55.0 131 116
10.5 41.5 104 83
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

1.0 28.0 77 50

Volume in Millions Volume in Millions Volume in Millions Volume in Millions


154 98 12 14
77 49 6 7
0 0 0 0
M J J A S O N D J F M A M M J J A S O N D J F M A M M J J A S O N D J F M A M M J J A S O N D J F M A M

DRAFTKINGS CINTAS CASSAVA SCIENCES SORRENTO THERAPEUTICS


DKNG (NASD) • 29.23 • 5.78 30 CTAS (NASD) • 227.42 • 9.21 233 SAVA (NASD) • 2.12 • -6.89 12 SRNE (NASD) • 6.76 • 4.16 10
 Revenue rose 30% to $89 28  The pandemic has soft- 223  A Phase 2 trial of the 9  The tiny firm’s CEO 8
million in the online-betting 26 ened business at the uni- 213 company’s investigational 6 brashly told Fox News that 6
firm’s March quarter, with 24 form-rental company, but 203 drug for Alzheimer’s didn’t 3 his antibody will prevent in- 4
losses doubling to 18 cents a 22
less than feared. It sees re- 193
show statistically significant 0
fection by the Covid-19 vi- 2
share. Sports shutdowns M T W T F covery ahead and revenue M T W T F drops in spinal-fluid levels M T W T F rus. He hasn’t yet begun M T W T F
hurt, but e-sports will help. from safety products. of Alzheimer’s biomarkers. clinical trials in humans.
Stock Price $ Stock Price $ Stock Price $ Stock Price $
30 308 12.5 11
24 276 10.0 9
18 244 7.5 7
12 212 5.0 5
6 180 2.5 3
0 148 0.0 1

Volume in Millions Volume in Millions Volume in Millions Volume in Millions


76 10 90 536
38 5 45 268
0 0 0 0
M J J A S O N D J F M A M M J J A S O N D J F M A M M J J A S O N D J F M A M M J J A S O N D J F M A M

The charts record the net change in share price, the high, low and closing trades, and share volume for companies with noteworthy stock activity last week. In addition, the graphs depict last week’s daily price activity in detail. The
dotted line on some graphs denotes the stock’s 200-day moving average; lack of a moving average means the shares have traded for less than that time period.
M10 BARRON’S May 18, 2020

Winners and Losers


NYSE BIGGEST % MOVERS NYSE MOST ACTIVE NYSE AMERICAN MOST ACTIVE NASDAQ MOST ACTIVE
Winners Volume Percentage Leaders Volume Percentage Leaders Volume Percentage Leaders
Name (Sym) Volume Close Change %Chg. Name (Sym) Volume %Chg. Close Change Name (Sym) Volume %Chg. Close Change Name (Sym) Volume %Chg. Close Change
UnitedNatFoods(UNFI) 38837 18.32 +6.36 +53.2 ComstockRscs(CRK) 24581 1007.3 4.65 –2.71 Electromed(ELMD) 2521 218.1 13.66 –1.85 Genfit(GNFT) 3406 1636.1 5.78 –15.36
AuroraCannabis(ACB) 132103 11.20 +3.14 +39.0 AuroraCannabis(ACB) 132103 920.7 11.20 +3.14 IssuerDirect(ISDR) 249 174.2 10.20 –0.30 AxcellaHealth(AXLA) 3073 795.4 3.97 –3.36
Avaya(AVYA) 23631 13.20 +2.73 +26.1 BlackRock(BLK) 31626 546.1 513.73 +14.95 Kaleyra(KLR) 229 162.3 6.09 –0.36 MyoKardia(MYOK) 17871 646.1 121.69 +60.60
PhoenixTree(DNK) 26 8.00 +1.50 +23.1 ArcelorMittal(MT) 105315 407.8 8.51 –2.91 NanoViricides(NNVC) 20016 135.0 9.63 +3.33 SutroBioph(STRO) 1486 609.4 9.02 –0.80
CoeurMining(CDE) 39598 5.10 +0.93 +22.3 ClipperRealty(CLPR) 1621 397.2 5.82 +0.27 BioceresCrop(BIOX) 114 79.6 5.97 +0.12 VeecoInstr(VECO) 11145 548.3 10.87 –2.90
CentralPuerto(CEPU) 904 2.95 +0.53 +21.9 GrubHub(GRUB) 89303 394.2 54.97 +8.15 CentrusEnergy(LEU) 391 77.1 8.27 +1.58 OysterPtPharma(OYST) 2440 541.2 29.50 –4.32
FiverrIntl(FVRR) 4268 59.04 +10.23 +21.0 CollierCreek(CCH) 4788 357.2 10.73 +0.26 VirnetX(VHC) 4810 62.7 5.83 –0.76 AviatNetworks(AVNW) 489 489.5 12.44 +2.75
FortunaSilver(FSM) 19652 3.96 +0.68 +20.7 UnitedNatFoods(UNFI) 38837 315.7 18.32 +6.36 TompkinsFin(TMP) 404 58.0 56.24 –8.50 ColliersIntl(CIGI) 3321 472.6 46.49 –3.92
GP Strategies(GPX) 1250 237.1 6.19 –0.39 CaledoniaMining(CMCL) 248 34.6 13.20 –0.62 DraftKings(DKNG) 75905 406.0 29.23 +5.78
Losers ScullyRoyalty(SRL) 81 202.5 7.01 –1.13 RetractableTechs(RVP) 4678 26.0 5.11 –0.12 LogitechIntl(LOGI) 8182 350.2 53.01 +1.62
Name (Sym) Volume Close Change %Chg. SilvergateCapital(SI) 1254 201.4 14.25 +0.25 MAG Silver(MAG) 4874 22.9 12.46 +0.34 LoralSpace(LORL) 3816 341.4 16.92 –7.21
FTS Intl(FTSI) 2041 3.73 –3.03 –44.9 AmbacFin(AMBC) 6278 198.7 12.56 –4.20 EquinoxGold(EQX) 9161 16.2 8.46 –0.39 Quidel(QDEL) 12742 335.5 197.27 +38.67
Eventbrite(EB) 17779 6.43 –3.85 –37.5 Revolve(RVLV) 15001 194.5 13.41 +0.38 Chase(CCF) 151 14.6 87.44 –4.97 AllogeneTherap(ALLO) 16469 335.5 44.91 +13.50
CaliforniaRscs(CRC) 21207 1.49 –0.88 –37.1 SpiritAirlines(SAVE) 94134 192.7 8.01 –2.55 MetallaRoyalty(MTA) 1202 13.3 5.20 –0.03 DexCom(DXCM) 31511 323.7 417.73 +12.23
ComstockRscs(CRK) 24581 4.65 –2.71 –36.8 HavertyFurn(HVT) 2209 190.5 14.86 +1.59 MastechDigital(MHH) 333 12.8 15.96 –1.16 Upwork(UPWK) 38001 317.7 13.72 +3.87
Coty(COTY) 107477 3.29 –1.91 –36.7 HCI Group(HCI) 716 190.3 42.01 –1.25 BarHarborBkshs(BHB) 271 10.3 17.43 –1.85 Novavax(NVAX) 153217 296.9 43.63 +24.90
Viad(VVI) 2027 14.65 –6.42 –30.5 FTS Intl(FTSI) 2041 177.0 3.73 –3.03 EvansBancorp(EVBN) 100 9.6 23.44 –1.90 Datadog(DDOG) 68807 275.5 67.16 +15.43
SunCokeEnergy(SXC) 6233 2.58 –0.99 –27.7 RegionalMgmt(RM) 1278 176.0 15.63 +0.67 SilverCrestMetals(SILV) 6523 7.7 8.07 +0.42 AdvEmissions(ADES) 3249 253.2 4.85 –2.61
ScorpioBulkers(SALT) 1442 14.60 –5.46 –27.2 8x8(EGHT) 25125 174.6 15.33 –3.64 AcmeUnited(ACU) 74 7.4 21.55 –0.06 PetIQ(PETQ) 5862 251.7 25.71 –1.04
NaborsIndustries(NBR) 5258 174.3 17.00 +2.88 DeltaApparel(DLA) 178 -0.1 11.09 –1.26 CommWestBcshs(CWBC) 114 234.9 6.34 –0.72
NYSE AMERICAN BIGGEST % MOVERS
By Share Volume By Share Volume By Share Volume
Winners
Name (Sym) Volume Close Change%Chg. Name (Sym) Volume Close Change%Chg. Name (Sym) Volume Close Change%Chg.
Name (Sym) Volume Close Change %Chg.
GeneralElec(GE) 671575 5.49 –0.80 –12.7 ZomedicaPharm(ZOM) 149011 0.23 –0.00 –1.6 AdvMicroDevices(AMD) 341878 54.20 +1.01 +1.9
SifcoInd(SIF) 18490 4.40 +1.87 +73.9
PenneyJC(JCP) 666690 0.24 +0.07 +39.0 AgEagleAerial(UAVS) 107986 1.34 +0.28 +26.4 AmerAirlines(AAL) 275939 9.04 –1.10 –10.8
NanoViricides(NNVC) 20016 9.63 +3.33 +52.9
FordMotor(F) 435443 4.90 –0.34 –6.5 iBio(IBIO) 77318 1.48 +0.47 +46.5 MicroVision(MVIS) 262421 0.84 +0.07 +9.1
CentrusEnergy(LEU) 391 8.27 +1.58 +23.5
BankofAmerica(BAC) 401314 21.44 –2.13 –9.0 eMagin(EMAN) 72004 0.62 +0.11 +21.1 UnitedAirlines(UAL) 260736 19.92 –5.50 –21.6
Servotronics(SVT) 92 7.80 +1.47 +23.2
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WellsFargo(WFC) 334754 23.36 –2.07 –8.1 AIM Immuno(AIM) 56719 2.56 +0.41 +19.1 Apple(AAPL) 208499 307.71 –2.42 –0.8
CoreMoldingTech(CMT) 2000 3.25 +0.56 +20.8
DeltaAir(DAL) 284181 19.19 –3.53 –15.5 BioPharmX(BPMX) 55795 0.56 +0.09 +19.7 Microsoft(MSFT) 196070 183.16 –1.52 –0.8
AIM Immuno(AIM) 56719 2.56 +0.41 +19.1
NorwegCruise(NCLH) 248713 10.92 –1.51 –12.1 B2Gold(BTG) 43392 5.42 –0.07 –1.3 SiriusXM(SIRI) 183101 5.34 –0.41 –7.0
AlphaProTech(APT) 30330 14.97 +1.92 +14.7
Transocean(RIG) 227750 1.40 +0.01 +0.7 GranTierraEner(GTE) 36013 0.24 –0.06 –18.6 InovioPharma(INO) 181738 13.43 +2.58 +23.7
GoldenStarRscs(GSS) 5464 2.72 +0.24 +9.7
Carnival(CCL) 222628 12.78 –1.43 –10.1 AlphaProTech(APT) 30330 14.97 +1.92 +14.7 CiscoSystems(CSCO) 169969 44.27 +1.28 +3.0
Losers Uber(UBER) 222156 32.47 –0.32 –1.0 GreatPanther(GPL) 26955 0.44 –0.03 –6.4 Novavax(NVAX) 153217 43.63 +24.90+132.9
Name (Sym) Volume Close Change %Chg. ItauUnibanco(ITUB) 215192 3.75 –0.23 –5.8 NorthernOil&Gas(NOG) 26677 0.87 +0.12 +15.6 MicronTech(MU) 135538 44.41 –3.84 –8.0
MarathonOil(MRO) 212797 5.61 –0.17 –2.9 ActiniumPharm(ATNM) 26287 0.18 –0.00 –2.6 CymaBayTherap(CBAY) 128563 4.05 +2.27+127.5
GoodrichPetrol(GDP) 182 6.50 –2.33 –26.4
CallonPetrol(CPE) 203520 0.69 –0.12 –14.3 Inuvo(INUV) 24406 0.33 +0.00 +0.6 Comcast A(CMCSA) 125694 35.92 –0.61 –1.7
Amcon(DIT) 2 52.40 –17.40 –24.9
AT&T(T) 185757 28.31 –1.48 –5.0 NorthernDynasty(NAK) 23303 0.88 +0.05 +6.0 JD.com(JD) 117434 50.85 +4.07 +8.7
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Envela(ELA) 1521 3.29 –0.81 –19.8


EnergyTransfer(ET) 176541 7.20 –0.44 –5.8 NovaBayPharm(NBY) 21330 0.89 –0.13 –12.7 Moderna(MRNA) 111430 66.69 +7.44 +12.6
RadiantLogistics(RLGT) 861 3.41 –0.83 –19.6
Citigroup(C) 172903 41.92 –4.40 –9.5 Enservco(ENSV) 21236 0.18 –0.01 –4.9 PennNational(PENN) 103417 19.35 +0.92 +5.0
EvolutionPetrol(EPM) 865 2.43 –0.50 –17.1
Macy's(M) 164448 5.31 –0.06 –1.1 NanoViricides(NNVC) 20016 9.63 +3.33 +52.9 Akorn(AKRX) 101320 0.29 +0.04 +15.7
Ashford(AINC) 66 5.86 –1.11 –15.9
PetroleoBrasil(PBR) 157477 6.10 –0.76 –11.1 NewGold(NGD) 18693 1.02 +0.00 +0.0 OPKO Health(OPK) 100621 2.62 +0.52 +24.8
Myomo(MYO) 1176 3.73 –0.62 –14.3
JPMorganChase(JPM) 156558 85.90 –6.80 –7.3 SifcoInd(SIF) 18490 4.40 +1.87 +73.9 Intel(INTC) 99442 58.28 –1.39 –2.3
UniqueFabricating(UFAB) 15 2.65 –0.44 –14.2
Ambev(ABEV) 147720 2.02 –0.13 –6.0 LilisEnergy(LLEX) 15713 0.19 +0.00 +0.9 SmileDirectClub(SDC) 95445 6.86 –1.16 –14.5
NASDAQ BIGGEST % MOVERS
By Dollar Volume By Dollar Volume By Dollar Volume
Winners Name (Sym) $ Volume Close Change%Chg. Name (Sym) $ Volume Close Change%Chg. Name (Sym) $ Volume Close Change%Chg.
Name (Sym) Volume Close Change %Chg. Alibaba(BABA) 19173616 203.68 +2.49 +1.2 AlphaProTech(APT) 451770 14.97 +1.92 +14.7 Apple(AAPL) 64334860 307.71 –2.42 –0.8
Novavax(NVAX) 153217 43.63 +24.90 +132.9 Boeing(BA) 16273071 120.00 –13.44 –10.1 CheniereEnergy(LNG) 428771 41.27 –3.23 –7.3 Tesla(TSLA) 60487207 799.17 –20.25 –2.5
MyoKardia(MYOK) 17871 121.69 +60.60 +99.2 BlackRock(BLK) 15411386 513.73 +14.95 +3.0 B2Gold(BTG) 228521 5.42 –0.07 –1.3 Amazon.com(AMZN) 451353262409.78 +30.17 +1.3
TizianaLifeSci(TLSA) 2309 5.59 +2.01 +56.1 JPMorganChase(JPM) 13578432 85.90 –6.80 –7.3 NanoViricides(NNVC) 193321 9.63 +3.33 +52.9 Microsoft(MSFT) 35489313 183.16 –1.52 –0.8
GamidaCell(GMDA) 4887 6.34 +1.94 +44.1 Shopify(SHOP) 13179695 767.00 +58.03 +8.2 NovaGoldRscs(NG) 162921 11.70 +0.23 +2.0 NVIDIA(NVDA) 25329765 339.63 +27.13 +8.7
Altimmune(ALT) 33066 4.48 +1.37 +44.1 Disney(DIS) 11677218 109.05 –0.11 –0.1 AIM Immuno(AIM) 161867 2.56 +0.41 +19.1 AdvMicroDevices(AMD) 18343319 54.20 +1.01 +1.9
AllogeneTherap(ALLO) 16469 44.91 +13.50 +43.0 Visa(V) 9134740 183.49 –1.60 –0.9 AgEagleAerial(UAVS) 145008 1.34 +0.28 +26.4 Facebook(FB) 17652132 210.88 –1.47 –0.7
Upwork(UPWK) 38001 13.72 +3.87 +39.3 UnitedHealth(UNH) 8968797 290.96 +3.96 +1.4 iBio(IBIO) 91439 1.48 +0.47 +46.5 Netflix(NFLX) 14682900 454.19 +18.64 +4.3
Cytokinetics(CYTK) 12136 21.64 +5.89 +37.4 HomeDepot(HD) 8862450 239.33 +4.90 +2.1 SifcoInd(SIF) 85684 4.40 +1.87 +73.9 DexCom(DXCM) 13085993 417.73 +12.23 +3.0
BankofAmerica(BAC) 8647426 21.44 –2.13 –9.0 EquinoxGold(EQX) 78013 8.46 –0.39 –4.4 Alphabet A(GOOGL) 126391511373.06 –11.28 –0.8
Losers Twilio(TWLO) 8229431 189.22 +9.53 +5.3 MAG Silver(MAG) 57878 12.46 +0.34 +2.8 BeyondMeat(BYND) 11025325 134.16 +0.65 +0.5
Name (Sym) Volume Close Change %Chg. AbbVie(ABBV) 8163053 90.71 +6.75 +8.0 SilvercorpMetals(SVM) 56076 4.53 +0.36 +8.6 Alphabet C(GOOG) 108214611373.19 –15.18 –1.1
Genfit(GNFT) 3406 5.78 –15.36 –72.7 WellsFargo(WFC) 7887303 23.36 –2.07 –8.1 Cel-Sci(CVM) 55971 15.70 +1.11 +7.6 Roku(ROKU) 8156351 112.93 –13.73 –10.8
AxcellaHealth(AXLA) 3073 3.97 –3.36 –45.8 Citigroup(C) 7267255 41.92 –4.40 –9.5 ImperialOil(IMO) 51467 14.29 –0.97 –6.4 CiscoSystems(CSCO) 7313088 44.27 +1.28 +3.0
CytomXTherap(CTMX) 6903 9.01 –5.23 –36.7 Uber(UBER) 7206841 32.47 –0.32 –1.0 eMagin(EMAN) 48866 0.62 +0.11 +21.1 ZoomVideo(ZM) 7256851 174.83 +19.43 +12.5
AdvEmissions(ADES) 3249 4.85 –2.61 –35.0 Salesforce.com(CRM) 6949574 171.33 –4.57 –2.6 SilverCrestMetals(SILV) 48492 8.07 +0.42 +5.5 Moderna(MRNA) 7187066 66.69 +7.44 +12.6
VenusConcept(VERO) 135 2.97 –1.53 –34.0 BerkHathwy B(BRK.B) 6682905 169.25 –7.58 –4.3 Electromed(ELMD) 41045 13.66 –1.85 –11.9 PayPal(PYPL) 6999900 145.51 +0.55 +0.4
VarexImaging(VREX) 4533 17.52 –8.38 –32.4 Bristol-Myers(BMY) 6597937 64.09 +3.04 +5.0 ZomedicaPharm(ZOM) 36891 0.23 –0.00 –1.6 MicronTech(MU) 6109940 44.41 –3.84 –8.0
GulfportEnergy(GPOR) 18341 1.62 –0.77 –32.2 Mastercard(MA) 6299344 278.94 –3.50 –1.2 BioPharmX(BPMX) 33749 0.56 +0.09 +19.7 Intel(INTC) 5812179 58.28 –1.39 –2.3
Potbelly(PBPB) 2065 2.05 –0.94 –31.4 Square(SQ) 5780243 80.26 +4.21 +5.5 VirnetX(VHC) 32261 5.83 –0.76 –11.5 Novavax(NVAX) 5732138 43.63 +24.90+132.9

Includes Common shares only. All figures reflect activity for the most-recent five-day trading week. Share volume figures are expressed in thousands. Volume percentage leaders exclude stocks with average daily volume of fewer
than 5,000 shares or priced under $5. Average volume is based on 65 trading days. Volume figures do not reflect extended trading hours. a-Stock has not been in existence or not been traded for 65 consecutive sessions. S-Stock
split or stock dividend amounting to 10% or more. X-Ex-dividend
May 18, 2020 BARRON’S M11

Research Reports
How Analysts Size Up Companies
These reports, excerpted and edited by Barron’s, were issued recently by investment and and discrete GPU sales; and we are increas- on the relative prospects for BlackRock’s
ing our data-center estimates, driven by in- fund flows and financial strength.
research firms. The reports are a sampling of analysts’ thinking; they should not be crease spending by the hyperscalers. We forecast second-quarter assets under
considered the views or recommendations of Barron’s. Some of the reports’ issuers have Net, our $360 price target implies a management of $6.84 trillion, a 5.8% in-
provided, or hope to provide, investment-banking or other services to the companies price/earnings ratio of 35.6 times our fiscal crease from the March 31 level and 3.1%
being analyzed. 2022 estimate, ex-cash, versus Nvidia’s his- higher than our previous forecast. The indi-
torical peak multiple of 36 to 38 times. cated quarter-over-quarter increase of $377
billion includes $91 billion of total net in-
Wendy’s • WEN-Nasdaq able and the sustainability of performance BlackRock • BLK-NYSE flows (with organic growth of 5.6%, likely
Buy • Price $19.28 on May 4 (especially the core Premier Agent busi- Overweight • Price $485.80 on May 13 far superior to industry levels); $286 billion
by Stifel ness). Price target: $39. by Wells Fargo Securities for market appreciation; and no net foreign
currency adjustments.
During the past four years, Wendy’s has Virtusa • VRTU-Nasdaq We are raising our earnings estimates by We forecast $48 billion of second-quar-
successfully shifted to a highly franchised Outperform • Price $31.76 on May 14 about 4%, from $26.65 to $27.65 for 2020 and ter long-term net inflows (excluding cash-
business model (95% from 78%) and signifi- by Barrington Research from $30 to $31.15 for 2021. Our 12-month management assets), including $43 billion
cantly reduced overhead, but has struggled price target increases from $495 to $530 for iShares exchange-traded funds and $10
to deliver higher sales growth. Addressing Virtusa reported fiscal fourth-quarter non- (based on 17 times our 2021 EPS estimate). billion for active strategies, offset by $5
these concerns, the company is rolling out GAAP EPS of 41 cents a share, which was We reiterate our Overweight rating, mainly billion in net outflows.
[breakfast nationwide], enhancing digital less than our forecast of 67 cents and the
capabilities domestically, and accelerating FactSet consensus forecast of 56 cents. The
international unit development in existing earnings shortfall was primarily due to a INSIDER TRANSACTIONS: Recent Filings
markets, with plans to initiate a European gross margin shortfall of 520 basis points Purchases Sales
$ Val $ Val
presence in the coming years. In the first [5.2 percentage points] and a higher-than- Company /Symbol Insiders Shares (000's) Company /Symbol Insiders Shares (000's)
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

week of launch, breakfast contributed to a expected tax rate (44% versus 19%), partly Mercury General MCY 3 203,711 7,211 Beyond Meat BYND 6 599,989 74,535
15% increase in sales. offset by lower-than-expected selling, gen- Upwork UPWK 1 542,996 5,403 Idexx Laboratories IDXX 2 126,994 36,911
Geo GEO 1 250,000 2,828 Scotts Miracle-Gro SMG 10 254,049 34,348
Unlike the other major burger chains, eral, and administrative costs. Agnc Investment AGNC 1 189,188 2,383 Datadog DDOG 6 678,200 33,649
Wendy’s uses “fresh, never frozen” beef, The pandemic resulted in project cancella- Harley-Davidson HOG 1 97,850 2,080 Ares Management ARES 4 884,031 30,755
which we believe gives it outsize exposure to tions and elongated sales cycles, which im- Vtv Therapeutics VTVT 1 625,000 1,306 Tempur Sealy International TPX 1 530,575 29,202
Lions Gate Entertainment LGFA 1 181,967 1,292 Paylocity PCTY 1 242,000 28,170
recent disruptions [in the U.S. meat supply}. pacted the quarter and the outlook. But the Illinois Tool Works ITW 2 7,875 1,249 Yeti YETI 1 965,797 27,057
Consequently, its restaurants may need to [technology-services] company’s pipeline Fortive FTV 1 20,000 1,104 Crowdstrike CRWD 3 322,318 24,539
Tricida TCDA 1 35,000 1,053 Tractor Supply TSCO 3 229,695 24,241
operate with more-limited menus. We are grew 78%, year over year, on digital strength
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Laureate Education LAUR 1 101,118 904 Seattle Genetics SGEN 5 145,882 24,026
less concerned about the impact of recent and new services, which include regulatory Triumph Bancorp TBK 1 32,000 792 Electronic Arts EA 6 186,169 21,667
price spikes on Wendy’s food costs. If the compliance offerings and vendor transition Rent-A-Center RCII 2 33,725 779 Coupa Software COUP 3 109,897 21,468
Transdigm TDG 1 2,000 693 Sba Communications SBAC 2 65,419 19,493
current level of inflation were to hold for the programs. These programs should start to
Vivint Smart Home VVNT 2 50,302 623 Tyler Technologies TYL 4 59,199 19,464
next few weeks, we believe that second- benefit revenue in fiscal 2021’s second half. Affiliated Managers AMG 1 10,000 593 Fastly FSLY 3 596,698 18,540
quarter beef inflation would remain similar to We are reducing our fiscal 2021 non- Magellan Midstream Partners LpMMP 1 13,370 563 Fedex FDX 1 155,750 18,334
Herman Miller MLHR 1 25,000 548 Qts Realty Trust QTS 2 261,808 17,057
the prior two quarters’. Target price: $22. GAAP earnings-per-share forecast to $1.68 Pcb BancorpPCB 1 59,273 537 Qualys QLYS 3 155,219 16,382
from $2.38 and introducing a fiscal 2022 Avid Technology AVID 1 86,316 516 CloroxCLX 4 80,237 16,343
Zillow Group • ZG-Nasdaq non-GAAP forecast of $2.18. Our 12-month An insider is any officer, director or owner of 10% or more of a class of a company's securities. In most cases, an insider must report any trade to
Negative • Price $52.69 on May 11 price target of $38 is based on 10.6 times the SEC within two business days. The tables highlight companies that filed with the SEC through last Wednesday. The tables do not include
pension-plan or employee stock-option activity, trades by beneficial owners of 10% or more, trades under $2 per share or trades under 100
by Susquehanna Financial Group our fiscal 2022 non-GAAP Ebitda [earnings shares. The "Purchases" column includes only open-market and private purchases; the "Sales" column includes only open-market and private sales,
before interest, taxes, depreciation, and and excludes trades preceded by option exercise in the 12 months prior to the reported event. Source: Thomson Reuters

April metrics rebounded. Perhaps more im- amortization] forecast of $135.5 million, less
portantly, management expects to resume net debt of $10 per share. INSIDER TRANSACTIONS RATIO
buying houses soon through its Homes unit.
60
Growth in Premier Agent revenue—the Nvidia • NVDA-Nasdaq
core profit driver—accelerated by five Buy • Price $312.50 on May 11 50
points, to 11%, year over year. Zillow be- by Needham
40
lieves that the 50% discount it offered to Bearish
agents kept many on the platform. In other Nvidia shares are up 47% since our upgrade 30
segments, Mortgages was 5% above consen- and have blown past our prior price target Ratio = 17
20
sus, Rentals was 7% above consensus, and [of $270]. We are increasing our target to
Other was 5% below consensus. $360 because we are overlaying the [Mel- 10
However, we remain concerned about the lanox acquisition] on our financial model, Bullish
0
potential of Homes to eventually turn profit- which we estimate adds 95 cents of incre- M J J A S O N D J F M A M
mental earnings to our fiscal 2022 estimate;
To be considered for this section, material we are increasing our gaming estimates, Ratio of Insiders Sales to Buys. Readings under 12:1 are Bullish. Those over 20:1 are Bearish.
should be sent to Research@barrons.com. driven by higher Nintendo Switch estimates The total top 20 sales and buys are 536,181,045 and 32,458,904 respectively; Source: Thomson Reuters
M12 BARRON’S May 18, 2020

Market View
This commentary was issued recently by money managers, research firms,
and market newsletter writers and has been edited by Barron’s.
”The U.S. Census Bureau confirmed this morning that the damage was more significant than expected,
as total retail sales plunged a record 16.4% in April, and that after an 8.3% decline the prior month.”
—KRISHEN RANGASAMY, Hot Charts

Retail Salesmageddon months ahead. The sector includes many economic uncertainty, gold has dramatically gains from the March bottom. Whether in-
credits that rely on economic growth to sus- outperformed other commodities and key vestors get shaken out or just buy more,
Hot Charts tain more-speculative projects and often op- asset classes. CFRA expects this outperfor- the coming two weeks should tell.
National Bank of Canada erate with narrow margins in the best of mance to continue throughout 2020. Gold —PAUL NOLTE
nbc.ca times. They are susceptible to losses from fundamentals arguably have never been
the pandemic and warrant closer scrutiny.… stronger, as the Covid-19 pandemic (and the Travel: A Proxy for the Recovery
May 15: Government-mandated lockdowns High-yield municipal bonds were excep- depressing reality of its economic damage)
kept U.S. consumers at home during April tionally popular among individual investors have led to an unprecedented amount of CIO Strategy Bulletin
and bricks-and-mortar retailers reeling. The seeking better returns on invested assets.… quantitative easing across the globe. CFRA Citi Private Bank
U.S. Census Bureau confirmed this morning We expect the severity of the current reces- thinks the rally in gold has only just begun citiprivatebank.com
that the damage was more significant than sion to result in a surge of defaults among and gold miners (Agnico Eagle Mines
expected, as total retail sales plunged a high-yield bonds. There are simply too many [AEM], Barrick Gold [GOLD], Franco May 10: There is a parallel between near-
record 16.4% in April, and that after an 8.3% bonds secured by nursing homes, continuing- Nevada [FNV], Kinross Gold [K.Canada], term and longer-term business confidence
decline the prior month. No bricks-and- care retirement communities, and economic- Newmont Mining [NEM], Royal Gold and intentions to travel. Currently, consumer
mortar retailer was spared, with double-digit development projects to reach a more benign [RGLD], and Wheaton Precious Metals and business confidence is low, but confi-
percentage declines in all major categories, conclusion. [WPM.Canada) are the best way to play an dence in the future remains strong. The same
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

except for building materials, which was —THOMAS MCLOUGHLIN AND TEAM appreciating gold price, given their leverage is true for travel and travel intentions. Travel
down “only” 3.5%. In contrast, nonstore re- to gold price movements.…We expect the is down 80% to 90% in the U.S. and in many
tailers capitalized on the lockdown, primarily Japan’s Stealth Bull Market average gold price for the full-year 2020 to other parts of the world, but intentions to
via e-commerce, with sales increasing 8.4% in be at least $300 above 2019, and, therefore, travel remain strong on a relative basis.
April; their share of retail sales grew to a re- Ideas every ounce produced will generate incre- The travel and tourism industry, which in
cord high of 19.4%. That said, e-commerce Gavekal Research mental pretax earnings of about $225 to $310. 2019 accounted for 10% of the global econ-
won’t save second-quarter U.S. gross domes- gavekal.com —MATTHEW MILLER omy, is now a leading indicator for the recov-
tic product. The retail “control group” used ery from the coronavirus collapse. Worldwide
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

to calculate GDP—[it] excludes food services, May 14: The Japanese nonfinancial sector is Tech-Investing “Mania” travel includes everything from airlines to
auto dealers, building materials, and gasoline probably one of the safest investments that hotels to taxis and employs 300 million people
stations—sank 15.3% in April, more than an investor can make right now. Nolte Notes globally.
three times the decline expected by the con- • The yen is undervalued. Kingsview Investment Management The USTA Travel Intentions Pulse Sur-
sensus. A rebound can be expected for • Japanese nonfinancial stocks are under- kingsview.com vey completed in late April indicates that six
bricks-and-mortar retailers in May, consider- valued. in 10 will be eager to travel for leisure once
ing some states eased lockdowns during that • Corporate debt, cash flows, and cash May 11: Investors are buying the tried- the Covid-19 emergency has passed, up from
month, but don’t expect all losses of the prior positions are unequaled anywhere. and-true parts of the markets, which 54% a month ago. And business travelers are
two months to be recouped. • Japanese shares are underowned. means primarily technology. The technol- more likely to engage in all types of travel-
April’s decline for retail sales and indus- • Japan’s main competitor, Germany, has ogy sector, by market capitalization, is now related activities than are leisure travelers.
trial production (-11% month on month, also great structural problems. larger than the developed world markets, Chinese tourists intend to travel as health
reported this morning) are much in line with My advice is: ex the U.S. We are seeing some cracks in concerns are addressed. In a Pacific Asia
our view that U.S. real GDP will contract 1) Move to at least a neutral weight in various parts of the U.S. markets, all out- Travel Association survey of over 1,250 citi-
more than 30% annualized in the second Japan. side of the tech sector. The technology zens across 30 Chinese provinces, autono-
quarter. —KRISHEN RANGASAMY 2) Buy nonfinancial stocks, favoring stocks are back to their year-end prices, mous regions, and municipalities, three in
domestic or Asian consumption plays. recovering everything lost during March. five (60%) respondents indicated that they
3) When the yen is down year on year Instead of weighting the index by how would consider traveling in 2020 if the epi-
High-Yield Headache versus the U.S. dollar, accelerate your large a company is and weighting stocks all demic of Covid-19 is effectively controlled,
buying. —CHARLES GAVE equally, the index would be down over 16%. with 27% undecided. And looking at hotel
The U.S. Municipal Market in the Age of Covid Looking at the smallest stocks, they are data at the end of April, 87% of hotels in
UBS 7 Gold Stocks That Sparkle down nearly 20%. At some point, this will China are open, with an occupancy rate
ubs.com turn around, but investors are so confident above 30%, up from 10% two months ago.
Thematic Research in the long-term prospects for Amazon- —DAVID BAILIN, STEVEN WIETING
May 14: Spreads on high-yield muni bonds CFRA .com, Apple, etc., that the “mania” may
jumped by 145 basis points [1.45 percentage cfraresearch.com continue longer than many believe possible. To be considered for this section, material, with
points] over the past nine weeks and are still The recent race higher by these stocks is the author’s name and address, should be sent
vulnerable to further spread widening in the May 12: Amid the Covid-19 pandemic and due for a rest, correcting some of the big to MarketWatch@barrons.com.
May 18, 2020 BARRON’S M13

New York Stock Exchange Composite List


52-Week Tick Div
FIVE-DAY DOW COMPOSITE
NOTICE TO READERS: High Low Name Sym Yld P/E Last Chg. Amt.
123.45 39.36 AsburyAutomotive ABG ... 7 62.30 –7.22 ...
Sign up for the Weekly Market Lab Newsletter: barrons.com/newsletters 5.33 0.47 AshfordHosp AHT .0 dd .60 –0.17 .06 Gravity’s Pull: The Dow dropped 2.7% this past week as tensions be-
81.82 38.88 AshlandGlobal ASH 1.9 dd 59.07 –3.20 .275
10.71 4.09 AspenAerogels ASPN ... dd
dd
5.89 –0.80 ... tween the U.S. and China heated up Friday. Merck gained 4.4%, while
Please visit the new Market Lab home page on barrons.com under Data. 34.02
22.60
13.94
10.23
AssetMarkFin
AssociatedBanc
AMK
ASB
...
5.9 7
24.92
12.15
–0.22
–2.04
...
.18 Raytheon Technologies and Boeing each fell about 10%.
www.barrons.com/market-data/market-lab 65.46
142.61
24.33
76.27
AssocCapital
Assurant
AC
AIZ
.6
2.8
dd
17
35.35
91.11
+0.02
–7.69
.10
.63 Monday Tuesday Wednesday Thursday Friday
50.77 13.64 AssuredGuaranty AGO 3.2 8 24.63 –4.04 .20
55.59 36.15 AstraZeneca AZN 2.6 cc 53.41 +0.12 .95 24390
23.53 1.20 AtHomeGroup HOME ... dd 2.86 +0.41 ...
52-Week Tick Div 52-Week Tick Div 3.50 0.79 Atento ATTO ... dd .82 –0.14 ... (Prev Fri's
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. 50.43 13.37 Athene ATH ... 16 24.67 –2.63 ... Close)
43.50 10.85 AtkoreIntl ATKR ... 7 21.92 –1.90 ... 24030
A
22.90 8.74 AmbacFin AMBC ... dd 12.56 –4.20 ...
dd

.
10.53 3.24 AmbacFinWt AMBC.WT ... ... 3.87 –1.78 ... 2.67 1.70 AtlanticPower AT ... 1.89 ... ...
5.45 1.90 Ambev ABEV ... 11 2.02 –0.13 ... 14.62 5.39 Atlas ATCO 7.9 11 6.35 –0.79 .125
121.08 77.92 AtmosEnergy ATO 2.4 21 95.11 –2.22 .575

ly
52.78 8.56 AAR AIR 2.0 12 15.24 –2.96 .075 11.77 5.80 Amcor AMCR 5.1 29 9.10 +0.13 .115
25.30 14.71 ABB ABB 3.8 26 17.66 –0.67 .8252 87.66 58.74 Ameren AEE 2.9 22 68.76 –2.10 .495 108.60 5.30 AuroraCannabis ACB ... dd 11.20 +3.14 ...
42.67 19.79 ABMIndustries ABM 2.3 15 31.57 –1.93 .185 26.19 13.11 Ameresco AMRC ... 19 18.78 –0.85 ... 101.46 59.54 Autohome ATHM 1.0 19 74.47 –6.20 .77 23670
11.38 3.51 ACCO Brands ACCO 4.6 5 5.60 –0.78 .065 18.04 10.12 AmericaMovil AMX 3.0 11 12.22 –0.53 .1776 87.01 38.16 Autoliv ALV .0 12 57.79 –3.35 .62
30.78 19.00 ADC Therap ADCT ... dd 29.65 ... ... 17.94 10.41 AmericaMovil A AMOV 2.9 12 12.48 –0.08 .1776 53.19 20.59 AutoNation AN ... 26 35.70 –2.62 ...
9.71 3.41 ADT ADT 2.3 dd 6.02 +0.37 .035 49.26 20.15 AmericanAssets AAT 3.3 30 24.38 –3.44 .20 1274.41 684.91 AutoZone AZO ... 16 1074.98 +17.08 ...
52.40 21.76 AECOM ACM ... dd 32.02 –4.12 ... 13.23 2.50 AmericanAxle AXL ... dd 5.72 –0.24 ... 103.65 55.50 Avalara AVLR ... dd 102.98 +6.54 ... 23310

on
21.23 8.11 AES AES 4.9 27 11.75 –1.12 .1433 50.94 20.13 AmCampus ACC 6.6 29 28.47 –2.53 .47 229.40 118.17 Avalonbay AVB 4.2 27 150.35 –13.61 1.59
57.18 23.07 Aflac AFL 3.4 8 32.99 –3.27 .28 20.43 6.54 AmerEagle AEO .0 7 8.04 –0.05 .1375 57.24 35.62 Avangrid AGR 4.4 17 39.68 –2.80 .44
81.39 35.33 AGCO AGCO 1.4 28 45.73 –5.40 .16 104.97 65.14 AEP AEP 3.6 21 78.43 –1.43 .70 48.07 19.46 AvanosMedical AVNS ... dd 26.24 –1.85 ...
16.70 1.46 AG Mortgage MITT .0 1 2.48 +0.32 .45 58.77 37.05 AmerElecPwrUn AEP.PRB 6.2 ... 48.70 –0.93 .7656 19.59 6.66 Avantor AVTR ... dd 17.86 +0.58 ... -109.33 -457.21 -516.81 +377.37 +60.08
4.07 1.29 AHBeloA AHC 10.6 3 1.51 –0.07 .08 34.16 9.07 AmEqtyLf AEL 1.7 3 18.03 –3.62 .30 14.83 6.13 Avaya AVYA ... dd 13.20 +2.73 ... 22950
13.55 1.95 AMC Ent AMC 2.7 dd 4.52 +0.42 .03 138.13 67.00 AmerExpress AXP 2.1 12 82.22 –7.28 .43 141.09 76.96 AveryDennison AVY 2.3 15 100.48 –8.78 .58 10 12 2 4pm 10 12 2 4pm 10 12 2 4pm 10 12 2 4pm 10 12 2 4pm
89.22 36.65 AMN Healthcare AMN ... 20 38.66 –5.34 ... 115.03 44.01 AmericanFin AFG 3.3 19 54.44 –11.30 .45 53.00 32.09 Avista AVA 4.5 19 36.03 –3.90 .405
... 29.89 17.50 AmHomes4Rent AMH .9 77 23.09 –1.74 .05 32.20 12.92 AxaltaCoating AXTA ... 18 19.70 +0.09 ...

us ,
11.19 6.39 AMTD Intl HKIB ... 6.80 –0.50 ...
2.17 0.34 ARC Document ARC 4.9 12 .81 –0.02 .01 58.66 16.07 AIG AIG 4.8 5 26.47 –1.18 .32 30.89 13.69 AxosFinancial AX ... 6 18.77 –3.28 ...
5.70 3.17 ASETech ASX 2.4 17 4.35 –0.26 .1607 16.75 0.38 AIG Wt AIG.WT ... ... .62 –0.12 ... 44.55 5.30 Azul AZUL ... dd 5.64 –1.66 ...

l
72.66 29.04 ASGN ASGN ... 15 52.22 –2.55 ... 17.89 5.99 AmRltyInv ARL ... dd 6.70 –0.46 ... 16.80 10.10 AzurePowerGlbl AZRE ... dd 15.07 +0.55 ... 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.

e
39.70 26.08 AT&T T 7.3 14 28.31 –1.48 .52 13.80 5.64 AmericanRenal ARA ... dd 6.25 –1.45 ...

al a
8.29
67.51
3.43
31.82
A10Networks
AXIS Capital
ATEN
AXS
...
4.8
dd
dd
6.55
34.30
–0.73
–5.08
...
.41
96.64
260.43
65.11
174.32
AmerStWater
AmerTowerREIT
AWR
AMT
1.6
1.7
32
54
74.96
229.58
–0.78
–8.78
.305
1.08
B 91.99 48.11 BestBuy BBY 2.8 14 78.61 –0.02 .55 57.69 30.09 BrookfieldRenew BEP 4.5 dd 47.86 –1.94 .5425
15 19.60 11.35 AmerVanguard AVD .6 36 12.41 –1.32 .02 33.00 10.13 BigLots BIG 4.2 5 28.35 +2.22 .30 48.69 30.70 Brown&Brown BRO .9 24 37.00 –0.60 .085
50.36 19.31 AZZ AZZ 2.4 28.14 –1.52 .17
25.20 10.39 B&G Foods BGS 7.9 18 23.99 +3.02 .475 674.99 250.50 BiglariA BH.A ... dd 264.78 –67.22 ... 68.15 41.03 Brown-Forman A BF.A 1.1 34 60.99 –0.31 .1743
78.65 13.01 Aaron's AAN .5 dd 31.30 –4.48 .04 141.70 92.00 AmerWaterWorks AWK 1.9 34 117.76 –0.27 .55
dd
5.13 1.11 BBX CapitalA BBX .0 1.59 –0.05 .0125 124.99 37.85 BiglariB BH ... dd 51.98 –13.02 ... 72.85 44.68 Brown-Forman B BF.B 1.1 37 66.32 +0.35 .1743

ci on
100.00 61.61 AbbottLabs ABT 1.6 45 89.89 –3.81 .36 40.42 23.30 AmericoldRealty COLD 2.5 88 33.94 –1.27 .21
97.86 62.55 AbbVie ABBV 5.2 16 90.71 +6.75 1.18 180.85 80.01 Ameriprise AMP 3.4 5 121.98 –3.63 1.04 49.58 31.66 BCE BCE 6.1 16 38.90 –1.87 .5905 97.84 23.61 Bill.com BILL ... dd 77.27 –6.35 ... 66.32 25.22 Brunswick BC 1.9 cc 50.58 +0.54 .24
26.78 7.42 Abercrombie&Fitch ANF 7.2 18 11.14 +0.55 .20 97.50 72.06 AmerisourceBrgn ABC 2.0 11 85.75 –2.34 .42 6.54 4.01 BEST BEST ... dd 5.13 –0.13 ... 67.86 26.56 BiohavenPharm BHVN ... dd 47.26 –0.40 ... 28.52 11.76 Buckle BKE .0 7 14.23 –0.92 1.25
29.55 9.59 AcadiaRealty AKR .0 ... 10.31 –1.78 .29 102.31 54.82 Ametek AME .9 20 79.59 –4.73 .18 22.38 5.69 BG Staffing BGSF 2.2 8 9.06 –1.42 .05 474.45 281.66 Bio-RadLab A BIO ... 9 466.72 +10.37 ... 17.85 5.12 Buenaventura BVN 1.0 dd 8.35 –0.08 .027
13.35 5.22 AccelEnt ACEL ... dd 8.29 –0.71 ... 26.60 3.64 AmiraNatureFds RYCE ... ... 13.40 +0.45 ... 59.02 29.78 BHP Group BHP 6.9 11 41.35 –0.07 1.30 475.29 287.85 Bio-RadLab B BIO.B ... 9 475.29 +11.15 ... 6.29 1.01 Build-A-Bear BBW ... cc 1.88 –0.23 ...
3.30 0.85 AccelEntWt ACEL.WT ... ... 1.76 –0.24 ... 9.50 2.27 AmnealPharm AMRX ... dd 4.12 +0.57 ... 51.87 23.64 BHP Group BBL 8.3 9 34.39 –0.16 1.30 15.48 9.46 Bitauto BITA ... dd 10.66 –0.81 ... 59.65 29.00 Bunge BG 5.8 dd 34.33 –2.20 .50
216.39 137.15 Accenture ACN 1.7 24 183.88 –4.68 .80 4.92 1.94 Ampco-Pitt AP ... dd 3.13 +0.08 ... 31.19 18.84 BJ'sWholesale BJ ... 21 28.43 +1.11 ... 87.12 48.07 BlackHills BKH 3.8 18 55.91 –4.83 .535 250.89 105.67 BurlingtonStrs BURL ... 24 167.78 –11.29 ...
29.11 7.96 AcornIntl ATV ... 5 12.09 +0.31 ... 110.24 63.05 Amphenol APH 1.2 22 82.31 –7.25 .25 17.08 6.41 BP Midstream BPMP 11.8 7 11.52 –0.33 .3475 76.44 50.01 BlackKnight BKI ... 83 73.60 +0.90 ... 20.73 8.13 BylineBancorp BY 1.3 8 9.48 –2.14 .03
143.55 67.46 AcuityBrands AYI .7 10 77.34 –8.64 .13 8.62 0.49 AmplifyEnergy AMPY .0 dd .93 –0.29 .10 43.00 15.51 BP BP 11.5 18 21.82 –2.21 .63 17.33 4.04 BlackStoneMin BSM 5.2 5 6.12 –0.62 .08
33.50 20.65 Acushnet GOLF 2.2 22 28.23 +0.11 .155 7.00 3.98 Amrep AXR ... dd 4.22 –0.33 ... 20.23 2.77 BP Prudhoe BPT 29.0 3 4.52 +0.32 .4242 9.09 2.70 BlackBerry BB ... dd 4.42 –0.29 ...
C

er s
8.70 3.31 Adecoagro AGRO ... dd 3.63 –0.14 ... 63.71 26.04 Anaplan PLAN ... dd 43.11 +0.79 ... 9.96 2.27 BRF BRFS ... cc 3.89 +0.57 ... 576.81 323.98 BlackRock BLK 2.8 19 513.73 +14.95 3.63
29.28 5.90 Adient ADNT ... dd 15.89 –1.86 ... 27.77 11.29 AngloGoldAsh AU ... dd 27.75 +1.58 ... 18.75 6.00 BRT Apartments BRT 9.9 dd 8.91 –0.93 .22 64.97 33.00 Blackstone BX 3.9 69 51.07 –1.80 .39
70.57 40.40 BWX Tech BWXT 1.4 19 55.00 –3.59 .19 40.62 12.67 BlackstoneMtg BXMT 11.7 16 21.27 –3.59 .62 288.59 156.15 CACI Intl CACI ... 21 233.55 –13.68 ...
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

51.79 19.76 AdtalemGlbEduc ATGE ... 8 31.91 –2.74 ... 102.70 32.58 AB InBev BUD ... 9 39.97 –3.37 ... cc
12 5.45 0.77 Babcock&Wilcox BW ... dd 1.80 +0.73 ... 29.62 11.29 BlockHR HRB 6.7 8 15.63 –0.59 .26 29.57 10.13 CAI Intl CAI ... 15.58 –3.07 ...
171.43 71.33 AdvanceAuto AAP .8 18 126.06 +1.21 .25 99.39 52.94 AnixterIntl AXE ... 94.01 –0.48 ...
9.39
33.15
51.60
28.55
22.13
AdvDisposalSvcs
AdvDrainageSys
ADSW
WMS
...
.9
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32.67
38.72
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17.2
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14.51
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BlueApron APRN
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dd
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8.03
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25.34
28.73 16.85
CBD Pao
CBIZ
CBD
CBZ
1.4
...
24
17
9.39
21.16
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7.98 0.64 AnteroResources AR ... dd 2.50 –0.63 ... 25.99 9.12 BakerHughes BKR 5.2 dd 13.76 –1.25 .18 15.19 3.25 BluegreenVac BXG .0 14 3.81 –0.25 .13 1.78 0.18 CBL Assoc CBL ... dd .20 –0.02 ...
28.25 8.06 AdvanSix ASIX ... 10 10.55 –1.14 ...
... 312.48 171.03 Anthem ANTM 1.4 15 278.09 +3.76 .95 82.82 51.26 Ball BLL 1.0 45 62.23 –2.33 .15 35.40 3.60 BlueLinx BXC ... dd 4.68 –0.63 ... 64.75 29.17 CBRE Group CBRE ... 9 35.99 –5.61 ...
5.18 1.80 Aegon AEG 6.3 2.23 –0.14 .1735
64.86 10.42 AerCap AER ... 3 25.28 –5.14 ... 4.12 0.79 AnworthMtg ANH 24.1 dd 1.45 –0.22 .05 19.12 6.44 BancCalifornia BANC 2.9 dd 8.39 –2.24 .06 391.00 89.00 Boeing BA .0 dd 120.00 –13.44 2.055 10.19 9.14 CC Neuberger I PCPL.UT ... ... 10.15 +0.06 ...
57.27 34.01 AerojetRocket AJRD ... 24 38.64 –2.83 ... 238.19 143.93 Aon AON .9 28 191.67 +1.91 .44 12.58 2.10 BancoBBVA BBAR ... 1 3.38 +0.22 ... 41.14 20.08 BoiseCascade BCC 1.4 14 29.52 –2.73 .10 55.15 19.73 CF Industries CF 4.8 12 24.82 –4.21 .30
94.07 44.37 AffiliatedMgrs AMG .1 16 62.53 –3.75 .01 33.77 3.80 Apache APA .9 dd 10.61 –1.84 .025 5.80 2.64 BancoBilbaoViz BBVA 8.2 5 2.79 –0.15 .1101 26.75 8.25 BonanzaCreekEner BCEI ... 2 16.02 –1.21 ... 87.13 46.32 CGI GIB ... 18 60.24 –4.87 ...
8.62 2.58 BancoBradesco BBDO 5.6 4 2.71 –0.33 .0031 48.11 8.03 BootBarn BOOT ... 11 19.12 –0.61 ... 53.40 12.02 CIT Group CIT 9.8 dd 14.27 –2.25 .35
m rp
90.64 61.13 AgilentTechs A .9 34 81.59 +1.88 .18 55.68 24.53 ApartmtInv AIV 4.9 25 33.61 –4.23 .41
69.01 31.00 AgnicoEagle AEM 1.2 40 68.93 +3.04 .20 36.42 2.89 Apergy APY ... dd 8.45 –1.40 ... 30.03 12.50 BancodeChile BCH 3.9 10 16.08 –1.36 .5131 82.00 54.37 BoozAllen BAH 1.5 23 70.78 –2.20 .31 10.28 9.14 CITICCapAcqn CCAC.UT ... ... 9.98 –0.02 ...
80.51 45.23 AgreeRealty ADC 4.0 31 59.50 –5.32 .60 7.68 1.95 Aphria APHA ... 38 3.36 –0.08 ... 22.85 7.73 Bladex BLX 9.0 5 11.08 +0.22 .25 46.60 17.00 BorgWarner BWA 2.4 8 27.77 –1.62 .17 69.17 46.03 CMS Energy CMS 3.0 22 53.68 –1.61 .4075
49.96 8.41 AirLease AL 2.7 4 22.05 –4.93 .15 12.99 4.30 APi Group APG ... ... 9.35 –0.35 ... 77.31 13.59 BancoMacro BMA ... 2 18.72 +0.21 ... 12.75 0.24 BorrDrilling BORR ... dd .56 –0.08 ... 51.30 25.18 CNA Fin CNA 5.7 12 26.00 –3.46 .37
257.01 167.43 AirProducts APD 2.4 26 228.04 –5.44 1.34 19.76 4.12 ApolloComRlEst ARI 22.8 61 7.02 –0.78 .40 12.85 3.69 BancSanBrasil BSBR 15.2 7 3.97 –0.38 .0446 515.56 290.02 BostonBeer SAM ... 58 499.95 +17.73 ... 11.99 5.06 CNH Indl CNHI ... 7 5.50 –0.15 ...
132.96 70.99 AlamoGroup ALG .6 16 87.52 –11.13 .13 52.67 19.46 ApolloGlbMgmt APO 5.7 dd 40.69 –3.24 .42 30.47 11.43 BcoSantChile BSAC ... 9 15.18 –1.54 ... 147.83 71.57 BostonProps BXP 5.2 13 74.95 –11.96 .98 20.93 8.79 CNO Financial CNO 3.9 6 12.27 –1.60 .12
8.77 3.34 AlamosGold AGI ... 50 8.49 +0.22 ... 16.88 4.48 AppleHospREIT APLE .0 11 8.16 –0.99 .10 8.01 2.52 BcoSantMex BSMX 11.7 3 2.67 –0.16 .1855 46.62 24.10 BostonSci BSX ... 11 34.83 –3.35 ... 181.13 81.11 CNOOC CEO 8.3 5 108.59 –4.07 5.804
1.90 16.94 5.20 CNX Midstream CNXM 20.1 3 6.38 –0.38 .0829
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

72.22 20.02 AlaskaAir ALK .0 6 25.63 –4.37 .375 70.62 30.66 AppliedIndlTechs AIT 2.6 59 50.12 –3.73 .32 4.74 BancoSantander SAN 12.9 5 1.97 –0.16 .109 20.05 8.64 Box BOX ... dd 17.17 ... ...
92.05 30.46 AlbanyIntl AIN 1.5 14 49.78 –4.71 .19 126.20 79.84 Aptargroup ATR 1.4 29 101.50 –6.03 .36 56.10 16.27 BanColombia CIB 5.1 5 22.81 –2.19 .4631 36.22 6.44 BoydGaming BYD .0 dd 16.02 –1.96 .07 14.19 4.26 CNX Resources CNX ... dd 9.74 –0.96 ...
99.40 48.89 Albemarle ALB 2.5 13 61.35 –2.90 .385 99.04 29.22 Aptiv APTV .0 7 64.07 –4.08 .22 32.97 17.21 BancorpSouth BXS 4.0 9 18.48 –2.34 .185 59.11 33.00 Brady BRC 2.1 16 41.22 –3.52 .2175 17.08 3.95 CONSOL Coal CCR .0 4 4.10 –0.78 .5125
co o

25.00 5.16 Alcoa AA ... dd 6.66 –1.41 ... 47.22 9.65 Aramark ARMK 1.8 55 23.99 –2.09 .11 35.72 17.95 BankofAmerica BAC 3.4 9 21.44 –2.13 .18 12.82 1.14 BraemarHtls BHR .0 dd 2.19 –0.58 .16 29.96 3.35 CONSOL Energy CEIX ... 3 5.97 –1.21 ...
65.37 39.37 Alcon ALC ... dd 56.89 +2.83 ... 15.77 3.54 ArborRealty ABR 18.4 14 6.46 –1.05 .30 38.52 13.76 BankofButterfield NTB 8.8 6 20.11 –2.21 .44 16.25 7.48 BrandywineRealty BDN 8.9 41 8.57 –1.81 .19 40.88 17.73 CRH CRH 3.2 12 27.86 –1.59 .7042
25.38 8.32 Alexander&Baldwin ALEX .0 dd 10.11 –2.24 .19 18.89 6.64 ArcelorMittal MT 2.0 dd 8.51 –2.91 .20 95.68 46.70 BankofHawaii BOH 4.7 11 56.47 –6.78 .67 4.98 2.50 BrasilAgro LND 5.8 9 3.51 +0.04 .2028 34.29 17.92 CTS CTS .8 22 18.84 –3.36 .04
394.70 223.03 Alexanders ALX 8.0 25 225.13 –27.44 4.50 97.80 21.80 ArchResources ARCH .0 4 29.04 –3.54 .50 79.93 38.31 BankofMontreal BMO ... 7 44.31 –4.77 ... 21.74 3.86 Braskem BAK 4.6 dd 8.14 +0.99 .3753 16.99 3.43 Curo CURO 3.6 2 6.08 –0.96 .055
175.74 109.22 AlexandriaRlEst ARE 2.9 67 141.43 –10.57 1.03 47.20 28.92 ArcherDaniels ADM 4.2 13 34.12 –2.27 .36 51.60 26.40 BankNY Mellon BK 3.9 7 32.06 –3.28 .31 10.78 1.50 Briggs&Stratton BGG .0 dd 1.59 –0.39 .05 55.52 13.81 CVR Energy CVI 8.7 10 18.43 –3.50 .40
F

16.85 9.53 AlgonquinPwr AQN 4.7 18 13.31 –0.33 .1551 11.43 2.09 Archrock AROC 11.5 41 5.04 +0.26 .145 58.22 31.94 BkNovaScotia BNS 7.2 7 35.44 –2.62 .6801 23.29 5.86 BrighamMin MNRL 10.7 37 13.20 –0.17 .37 4.13 0.60 CVR Partners UAN 23.9 dd .88 –0.12 .07
231.14 147.95 Alibaba BABA ... 22 203.68 +2.49 ... 15.00 5.80 Arconic ARNC ... ... 8.34 –0.78 ... 37.60 13.47 BankUnited BKU 6.6 6 13.99 –3.90 .23 176.98 64.23 BrightHorizons BFAM ... 35 99.13 –13.23 ... 77.03 51.72 CVS Health CVS 3.2 11 63.19 +0.07 .50
847.95 426.87 Alleghany Y .0 cc 458.52 –71.98 15.00 8.41 2.96 ArcosDorados ARCO 1.9 8 3.18 –0.62 .03 10.22 3.41 Barclays BCS 3.1 ... 4.71 –0.56 .148 10.93 5.51 BrightScholarEduc BEDU 1.3 20 6.77 –0.16 .088 2044.41 1031.39 CableOne CABO .5 50 1835.24 –9.25 2.25
25.66 4.95 AlleghenyTechs ATI ... 4 6.90 –1.39 ... 47.85 28.14 Arcosa ACA .6 13 32.30 –0.31 .05 10.59 4.67 BaringsBDC BBDC 9.7 dd 6.59 –0.23 .16 12.39 3.61 BrightSphere BSIG .5 3 7.80 –0.61 .01 50.58 20.00 Cabot CBT 4.8 16 29.10 –3.39 .35
139.24 77.37 Allegion ALLE 1.4 27 92.94 –9.33 .32 36.33 6.30 ArcusBiosci RCUS ... dd 35.03 +4.95 ... 5.10 1.11 Barnes&NobleEduc BNED ... dd 1.33 –0.28 ... 20.27 6.85 BrightView BV ... 55 12.45 –0.09 ... 27.42 13.06 CabotOil COG 2.2 16 18.25 –2.26 .10
88.60 48.22 Allete ALE 5.0 14 49.60 –6.18 .6175 21.54 9.20 Ardagh ARD 5.5 cc 10.87 –1.10 .15 68.60 30.22 BarnesGroup B 2.0 11 32.74 –4.74 .16 47.57 7.00 BrinkerIntl EAT .0 6 19.71 –2.70 .38 36.01 8.16 Cactus WHD 2.2 10 16.41 –0.47 .09
159.41 20.51 AllianceData ADS 2.2 dd 38.18 –9.00 .21 9.79 3.73 ArdmoreShipping ASC .0 dd 4.84 –0.96 .05 28.50 11.65 BarrickGold GOLD 1.0 12 28.04 +0.65 .07 97.12 33.17 Brink's BCO 1.6 cc 37.45 –3.61 .15 21.41 4.63 CadenceBancorp CADE 3.5 dd 5.75 –0.80 .05
36.06 13.24 AllianceBernstein AB 12.6 8 21.27 –1.53 .64 17.72 2.78 AresCommRealEst ACRE 21.4 14 6.16 –1.29 .33 31.97 11.15 BauschHealth BHC ... dd 15.74 –1.07 ... 68.34 42.48 Bristol-Myers BMY 2.8 79 64.09 +3.04 .41 31.56 9.80 CAE CAE .0 14 13.68 –2.15 .0832
49.73 26.15 AllisonTransm ALSN 2.0 7 33.79 –3.66 .17 41.88 20.20 AresMgmt ARES 4.8 88 33.63 –0.75 .40 95.19 69.10 BaxterIntl BAX 1.1 44 87.16 –0.92 .245 4.76 1.94 Bristol-MyersRt BMY.RT ... ... 2.95 –0.82 ... 24.87 3.12 Caleres CAL 4.7 4 5.90 –1.40 .07
125.92 64.13 Allstate ALL 2.3 8 95.38 –5.41 .54 50.00 29.91 Argan AGX 2.9 dd 34.06 –1.73 .25 2.00 0.19 BaytexEnergy BTE ... dd .26 –0.02 ... 0.74 0.27 Bristol-MyersRt CELG.RT .0 ... .45 +0.02 .1479 22.43 0.85 CaliforniaRscs CRC ... dd 1.49 –0.88 ...
35.42 10.22 AllyFinancial ALLY 5.0 6 15.24 –0.54 .19 76.47 25.00 ArgoGroup ARGO 4.4 dd 28.22 –5.37 .31 17.23 4.39 BeazerHomes BZH ... 8 7.08 –0.35 ... 45.64 27.32 BritishAmTob BTI 8.9 12 37.34 –0.56 .6721 57.48 39.74 CalWtrSvc CWT 2.0 41 43.14 –2.22 .2125
19.84 7.74 AlpineIncmProp PINE 6.9 ... 11.54 –1.83 .20 289.45 156.63 AristaNetworks ANET ... 21 210.45 –7.56 ... 286.72 197.75 BectonDicknsn BDX 1.2 78 258.25 +3.77 .79 22.74 7.51 BrixmorProp BRX .0 10 9.35 –2.01 .285 12.72 5.60 Calix CALX ... dd 10.97 –1.60 ...
10.80 3.59 AltaEquipment ALTG ... cc 5.60 +0.45 ... 7.54 1.40 ArlingtonAsset AI .0 dd 2.24 –0.41 .225 61.05 25.54 Belden BDC .7 dd 27.88 –6.86 .05 12.81 5.44 BroadmarkRealty BRMK 13.2 62 7.30 –1.00 .06 22.33 4.75 CallawayGolf ELY .3 21 12.94 –0.97 .01
1.84 0.39 AltaEquipWt ALTG.WT ... ... .73 –0.05 ... 5.13 1.20 ArloTech ARLO ... dd 2.23 –0.36 ... 24.03 13.56 BellRingBrands BRBR ... 10 19.66 +1.34 ... 1.84 0.15 BroadmarkRltyWt BRMK.WT ... ... .23 –0.02 ... 8.34 0.38 CallonPetrol CPE ... 1 .69 –0.12 ...
160.11 75.17 Alteryx AYX ... cc 129.95 –0.70 ... 19.43 6.40 ArmadaHoffler AHH .0 17 7.07 –1.83 .22 37.36 14.06 BenchmarkElec BHE 3.4 54 19.01 –1.66 .16 136.99 81.90 BroadridgeFinl BR 1.9 33 115.55 –1.26 .54 120.73 62.48 CamdenProperty CPT 4.0 37 83.80 –4.66 .83
31.78 15.96 AlticeUSA ATUS ... 93 23.05 –0.35 ... 21.15 4.95 ArmourRes ARR 28.3 dd 7.22 –0.70 .17 79.92 43.05 Berkley WRB .9 19 47.73 –4.00 .11 8.80 1.47 BrookdaleSrLiving BKD ... 4 2.85 –0.25 ... 11.26 5.30 Cameco CCJ .6 70 9.84 –0.90 .0608
53.11 30.95 Altria MO 9.2 dd 36.59 –0.15 .84 11.79 1.12 ArmstrongFlooring AFI ... dd 2.34 –0.20 ... 347400 239440 BerkHathwy A BRK.A ... 42 253500 –11779 ... 45.61 21.57 BrookfieldMgt BAM 1.6 27 29.95 –3.45 .12 57.54 35.27 CampbellSoup CPB 2.6 32 53.53 +2.27 .35
9.20 4.61 AlumofChina ACH ... 26 4.78 –0.38 ... 111.46 62.03 ArmstrongWorld AWI 1.2 dd 68.53 –5.73 .20 231.61 159.50 BerkHathwy B BRK.B ... 42 169.25 –7.58 ... 46.88 18.60 BrookfieldBusPtr BBU .9 dd 27.46 –0.90 .0625 16.97 3.40 CampingWorld CWH 2.0 dd 15.86 +1.86 .0732
n-

10.33 9.51 AlussaEnergy ALUS.UT ... cc 9.93 –0.07 ... 85.80 39.25 ArrowElec ARW ... dd 61.66 –3.80 ... 33.72 9.15 BerkshireHills BHLB 9.7 9 9.87 –1.96 .24 47.81 32.54 BrookfieldInfr BIPC 4.4 ... 43.71 +0.23 .485 51.71 12.94 CanadaGoose GOOS ... 18 19.22 –3.59 ...
10.29 9.25 AlussaEnergyA ALUS ... ... 9.66 –0.02 ... 38.09 17.69 ArtisanPtrsAsset APAM 9.5 10 26.79 –2.49 .61 55.26 25.00 BerryGlobal BERY ... 13 40.08 –3.78 ... 50.74 23.22 BrookfieldInfr BIP 5.0 cc 38.44 –2.02 .485 87.62 46.45 CIBC CM 7.4 7 56.20 –3.54 1.0908

The Week’s Statistics Bonus Tables: M33


no

Barron's 50-Stock Average ............. 31 DJ Averages ................................... 30 Indexes P/Es & Yields ...................... 31 New Corporate Listings ................. 35 Stock Volume ................................ 31
Cash Track ..................................... 24 DJ U.S. Total Market Industry Groups 32 Initial Public Offerings.................... 32 New Highs & Lows ......................... 33 Top Savings Deposit Yields............. 29
Charting the Market ...................... 9 Dow Jones Averages ...................... 30 Investor Sentiment Readings ......... 34 NYSE Half-Hourly Volume .............. 32 Trading Diary ................................. 30
Closed-End Funds.......................... 28 Dow Jones Per Share Values ........... 31 Key Foreign Market Indexes ........... 23 Other Market Indexes .................... 30 Vital Signs...................................... 2
Coming Earnings ........................... 32 Exchange Traded Portfolios ........... 20 Market Lab .................................... 30 Week In Stocks............................... 31
Pulse of the Economy..................... 32
Conference Call Calendar............... 33 Federal Reserve Data Bank ............. 34 Money Rates, U.S. & Foreign .......... 34 Weekly Bond Statistics................... 34
SEC Form 144 Filings ...................... 31
Delta Tactical Sentiment ................ 31 Foreign Exchange .......................... 34 Money Supply ............................... 34 Winners & Losers Stocks ................ 10
Distributions & Offerings ............... 31 Global Stock Markets..................... 23 Mutual Funds ................................ 24 Short Interest NASDAQ.................. 25
Dividend Boosts - Reductions......... 35 Gold & Silver Prices......................... 34 N.Y. Stock Exchange ...................... 13 Short Interest NYSE/NYSE Amer ..... 25 For statistical queries please contact the
Statistics Team: 609-520-4799
Dividend Ex-Payment Dates ........... 35 Gold Mining Index ......................... 34 Nasdaq National Market................ 17 Stock Splits - Special Dividends ...... 35 or email: barronsstats@barrons.com
M14 BARRON’S May 18, 2020

New York Stock Exchange Composite List


52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
96.53 65.13 CanNtlRlwy CNI 2.1 17 77.98 –4.03 .4097 24.04 10.76 CommercialMetals CMC 3.2 6 14.81 –2.08 .12 120.26 62.95 Dover DOV 2.3 17 84.94 –7.29 .49 108.77 56.77 FMC FMC 2.0 25 88.02 –5.46 .44 0.40 0.10 GigCapital2Rt GIX.RT ... ... .28 +0.04 ...
32.79 6.71 CanNaturalRes CNQ 7.1 9 17.01 +0.60 .2938 72.63 47.01 CommBkSys CBU 3.2 16 51.93 –7.01 .41 2.09 1.06 DoverMotorsports DVD 8.3 9 1.21 –0.14 .10 12.93 5.05 FNB FNB 7.6 6 6.33 –1.39 .12 0.50 0.10 GigCapital2Wt GIX.WT ... ... .28 +0.02 ...
275.13 173.26 CanPacRlwy CP ... 17 220.23 –8.77 ... 7.47 1.79 CommunityHlthSys CYH ... dd 2.72 –0.27 ... 56.25 21.95 Dow DOW 8.3 dd 33.56 –0.77 .70 6.38 1.90 FS KKR Cap FSK 18.9 dd 3.17 –0.12 .15 40.40 9.42 Gildan GIL .0 19 12.50 –1.29 .154
9.82 4.52 Cango CANG ... 14 5.04 –0.16 ... 52.33 20.12 CommunityHlthcr CHCT 4.8 72 34.67 –4.03 .42 53.64 33.33 DrReddy'sLab RDY .5 36 49.66 –2.70 .2822 144.10 79.74 FTI Consulting FCN ... 21 114.94 –8.50 ... 19.03 9.44 Glatfelter GLT 3.9 dd 13.69 –1.21 .135
44.87 20.51 Cannae CNNE ... 4 33.37 +0.06 ... 15.40 5.54 SABESP SBS 3.1 6 6.51 –0.62 .2518 56.71 23.91 Dril-Quip DRQ ... dd 25.36 –2.45 ... 162.80 3.40 FTS Intl FTSI ... dd 3.73 –3.03 ... 84.65 23.31 Glaukos GKOS ... dd 35.55 –4.35 ...
30.12 19.13 Canon CAJ 6.3 19 20.01 –0.66 .7255 5.00 1.30 EngGr-Cmg C CIG.C 9.8 3 1.51 +0.01 .0574 5.31 0.86 DriveShack DS ... dd 1.12 –0.15 ... 71.22 42.33 Fabrinet FN ... 17 54.95 –6.40 ... 48.25 31.43 GSK GSK 4.8 17 40.91 –1.00 .567
46.97 9.00 CanopyGrowth CGC ... dd 15.86 +0.52 ... 4.11 1.28 EngGr-Cmg CIG 10.2 3 1.45 –0.05 .0574 57.84 16.27 Ducommun DCO ... 9 25.57 –2.69 ... 310.25 195.22 FactSet FDS 1.1 30 281.06 +4.98 .77 6.98 2.57 GlobalCordBlood CO ... 5 2.64 –0.16 ...
93.87 20.81 CantelMedical CMD .0 67 32.84 –3.97 .105 18.15 8.28 COPEL ELP 6.0 5 9.78 +0.16 .4881 103.79 62.13 DukeEnergy DUK 4.7 16 81.19 –0.59 .945 436.69 177.65 FairIsaac FICO ... 46 352.36 –18.74 ... 15.95 6.98 GlobalMedREIT GMRE 8.4 88 9.53 –0.98 .20
107.59 38.00 CapitalOne COF 2.8 11 58.03 –4.17 .40 4.71 1.02 CiaSiderurgica SID ... 4 1.33 –0.13 ... 38.88 25.19 DukeRealty DRE 3.0 28 30.83 –3.09 .235 6.10 0.81 FangHoldings SFUN ... dd .96 –0.12 ... 21.71 8.77 GlobalNetLease GNL 12.5 34 12.78 –1.37 .40
5.64 0.45 CapitalSrLiving CSU ... dd .61 –0.07 ... 29.40 11.25 CerveceriasUnid CCU 3.3 13 12.92 –0.94 .2731 77.03 28.33 DuPont DD 2.6 dd 45.45 –1.48 .30 11.75 9.86 FarPointAcqnA FPAC ... cc 10.18 +0.01 ... 21.62 6.30 GlobalPtnrs GLP 19.8 14 9.85 –0.75 .3938
40.96 5.42 Capri CPRI ... 6 12.87 –2.14 ... 26.37 10.78 CompassDiversif CODI 9.4 dd 15.40 –1.59 .36 60.55 12.24 DycomInds DY ... 16 29.46 –1.93 ... 12.68 9.02 FarPointAcqnUn FPAC.UT ... ... 10.18 +0.03 ... 209.62 105.54 GlobalPayments GPN .5 80 169.87 –5.17 .195
9.25 1.97 CapsteadMtg CMO 11.4 dd 4.72 –0.24 .15 66.14 34.39 CompassMnlInt CMP 6.8 18 42.51 –4.24 .72 2.50 0.98 DynagasLNG DLNG ... 77 1.57 –0.11 ... 2.68 0.20 FarPointAcqnWt FPAC.WT ... ... .40 +0.08 ... 9.25 2.61 GlobalShipLease GSL ... 2 4.10 –0.14 ...
60.69 39.05 CardinalHealth CAH 4.0 dd 48.95 –0.93 .4859 10.70 4.05 ComstockRscs CRK ... 8 4.65 –2.71 ... 37.07 17.05 Dynatrace DT ... dd 33.03 +1.81 ... 23.43 5.99 Farfetch FTCH ... dd 14.10 –2.11 ... 141.67 70.83 Globant GLOB ... 86 122.59 –1.66 ...
169.86 97.55 Carlisle CSL 1.9 13 105.07 –14.91 .50 35.59 22.83 ConagraBrands CAG 2.5 22 34.17 +0.65 .2125 20.34 7.04 DynexCapital DX 14.4 dd 12.49 –0.84 .15 7.22 5.05 FarmlandPtrs FPI 3.1 cc 6.42 –0.14 .05 111.43 56.74 GlobeLife GL 1.1 10 68.76 –8.99 .1875
103.18 37.59 CarMax KMX ... 14 75.80 –0.89 ... 116.92 33.13 ConchoRscs CXO 1.5 dd 54.26 –4.38 .20 39.78 10.63 Fastly FSLY ... dd 39.50 +4.70 ... 60.15 33.41 GlobusMedical GMED ... 32 45.82 –3.69 ...
53.89 7.80 Carnival CCL .0 5 12.78 –1.43 .50 dd 8 82
2.92 1.34 ConcordMed CCM ... 1.60 ... ...
E 76.00 41.26 FedAgriMtg A AGM.A 5.1 62.46 +3.72 .80 78.99 40.25 GoDaddy GDDY ... 76.51 +1.46 ...

.
52.70 7.08 Carnival CUK 18.3 4 10.93 –1.44 .50 116.81 37.66 Conmed CNMD 1.2 60 67.54 –2.46 .20 88.46 40.05 FedAgriMtg C AGM 5.5 8 58.07 –5.32 .80 8.58 3.57 GoldFields GFI .9 44 8.47 +0.36 .0406
56.33 13.60 CarpenterTech CRS 4.2 6 19.25 –2.38 .20 67.13 20.84 ConocoPhillips COP 4.1 13 40.87 –2.21 .42 141.35 64.11 FederalRealty FRT 5.8 16 72.02 –6.10 1.05 22.50 8.00 GoldmanSachsBDC GSBD 11.7 dd 15.37 –0.23 .45

ly
28.50 13.54 CarriageSvcs CSV 2.1 18 14.38 –1.48 .075 95.10 62.03 ConEd ED 4.3 18 70.36 –3.82 .765 1.94 0.26 ECA Marcellus ECT 30.4 3 .46 –0.16 .019 35.75 23.32 FederalSignal FSS 1.2 14 26.40 –1.40 .08 250.46 130.85 GoldmanSachs GS 2.9 9 171.87 –13.52 1.25
18.75 11.50 CarrierGlobal CARR ... ... 16.71 –1.65 ... 212.00 104.28 ConstBrands A STZ 1.9 dd 158.49 –7.57 .75 20.00 7.58 elfBeauty ELF ... 25 13.78 +0.30 ... 38.26 13.06 FederatedHermes FHI 5.3 7 20.20 –1.88 .27 39.60 21.49 Gorman-Rupp GRC 2.1 21 27.07 –1.93 .145
23.03 3.25 Cars.com CARS ... dd 5.29 –0.75 ... 15.10 3.90 Constellium CSTM ... cc 6.31 –1.32 ... 93.54 41.85 EMCOR EME .6 10 57.00 –5.53 .08 178.50 88.69 FedEx FDX 2.4 7 107.52 –12.92 .65 79.71 26.75 GraceWR GRA 2.6 22 46.76 –5.34 .30
112.46 60.17 Carter's CRI .0 23 75.40 –3.87 .60 8.43 1.80 ContainerStore TCS ... 5 2.02 –0.26 ... 33.52 12.10 ENI E 7.3 cc 18.36 –0.55 .934 180.95 127.73 Ferrari RACE .8 39 157.39 –2.48 1.2351 56.99 38.43 Graco GGG 1.6 23 44.21 –2.12 .175
115.23 22.16 Carvana CVNA ... dd 92.66 –7.43 ... 43.77 6.90 ContinentalRscs CLR .0 12 12.87 –2.22 .05 95.94 27.00 EOG Rscs EOG 3.1 13 47.68 –3.77 .375 16.04 7.52 Ferro FOE ... cc 10.94 +0.71 ... 11.55 10.07 GrafIndustrial GRAF.UT ... ... 10.64 ... ...
15.85 3.15 CasperSleep CSPR ... dd 6.58 –0.59 ... 13.45 2.94 Volaris VLRS ... 4 3.98 –0.64 ... 248.27 151.97 EPAM Systems EPAM ... 44 216.97 –6.33 ... 16.25 6.00 FiatChrysler FCAU ... 20 7.82 –0.67 ... 10.49 9.87 GrafIndustrial GRAF ... dd 10.31 +0.06 ...

on
3.58 0.60 CastlightHealth CSLT ... dd .72 –0.13 ... 57.02 1.93 ConturaEnergy CTRA ... dd 2.90 –0.46 ... 80.75 12.56 EPR Prop EPR .0 13 25.04 –2.34 .3825 49.28 19.00 FidNatlFin FNF 5.3 9 25.01 –0.83 .33 0.59 0.05 GrafIndlWt GRAF.WT ... ... .42 +0.06 ...
74.32 31.04 Catalent CTLT ... cc 73.49 +1.53 ... 365.68 236.68 Cooper COO .0 33 296.52 –8.00 .03 46.48 7.34 EQM Midstream EQM 20.7 54 18.68 –0.40 .3875 158.21 91.68 FidNatlInfo FIS 1.1 cc 132.22 +3.99 .35 14.84 5.56 GrafTechIntl EAF .7 2 5.86 –1.47 .01
12.54 5.13 CatchMarkTimber CTT 7.9 dd 6.80 –1.00 .135 50.78 6.64 Cooper-Standard CPS ... dd 9.58 –2.05 ... 21.47 4.21 EQT EQT .0 dd 12.74 –1.25 .03 69.89 37.92 58.com WUBA ... 7 51.89 –0.42 ... 23.77 10.36 Graham GHM 3.9 dd 11.32 –0.04 .11
150.55 87.50 Caterpillar CAT 3.8 11 107.92 –4.19 1.03 32.33 13.82 CooperT&R CTB 2.0 14 21.40 –1.23 .105 107.10 62.64 ESCO Tech ESE .4 27 74.47 –5.23 .08 5.75 1.22 FinVolution FINV 6.3 1 1.60 –0.04 .12 756.26 267.89 GrahamHoldings GHC 1.8 8 325.33 –46.87 1.45
19.73 8.52 Cato CATO .0 7 10.13 –0.73 .33 10.46 4.55 CooTekCayman CTK ... dd 6.90 –0.14 ... 97.10 41.83 EagleMaterials EXP .0 dd 53.38 –5.77 .10 66.78 29.36 FirstAmerFin FAF 4.0 8 44.55 –2.50 .44 346.60 200.61 Grainger GWW 2.1 20 278.79 –6.66 1.44
64.86 13.00 CedarFairRec FUN 14.9 37 25.10 –3.07 .935 116.88 24.00 Copa CPA 8.4 7 38.10 –5.46 .80 7.64 1.44 EarthstoneEner ESTE ... 2 2.03 –0.26 ... 11.24 3.50 FirstBanCorp FBP 4.3 8 4.68 –0.89 .05 3.40 1.34 GranayMontero GRAM ... dd 1.92 +0.04 ...
3.69 0.53 CedarRealty CDR 5.8 dd .70 –0.17 .01 56.03 6.68 CoreLabs CLB .2 dd 18.07 –0.88 .01 29.70 17.72 EasterlyGovtProp DEA 4.5 cc 23.26 –3.02 .26 14.93 6.77 FirstCmwlthFin FCF 6.2 8 7.07 –1.32 .11 48.80 8.90 GraniteConstr GVA 3.7 dd 14.15 –1.76 .13
128.88 52.70 Celanese CE 3.2 13 76.67 –6.05 .62 24.38 8.33 CoreCivic CXW 17.2 7 10.24 –2.09 .44 142.69 83.40 EastGroup EGP 3.1 31 98.17 –11.75 .75 17.42 6.27 FirstHorizonNatl FHN 7.8 7 7.68 –1.47 .15 19.35 1.74 GranitePointMtg GPMT .0 16 4.61 +0.11 .42

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9.29 2.63 Celestica CLS ... dd 5.44 –0.46 ... 51.75 24.69 CoreLogic CLGX 2.0 43 43.19 –1.81 .22 83.99 34.44 EastmanChem EMN 4.4 10 59.97 –2.56 .66 46.12 25.89 FirstIndRlty FR 2.9 17 33.98 –2.84 .25 56.68 28.12 GraniteREIT GRP.UT 4.5 8 46.48 –0.10 .1757
4.59 1.80 CellcomIsrael CEL ... dd 3.45 –0.06 ... 49.75 9.25 CorEnergyInfr CORR 1.8 dd 10.98 –0.86 .05 4.78 1.50 EastmanKodak KODK ... dd 2.46 –0.44 ... 12.69 4.17 FirstMajestic AG ... dd 8.84 +0.56 ... 16.95 10.41 GraphicPkg GPK 2.4 27 12.70 –0.81 .075

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9.82 5.54 CementosPacasm CPAC ... 15 6.80 +0.30 ... 13.42 2.18 CorePoint CPLG 25.0 dd 3.20 –1.20 .20 105.78 56.42 Eaton ETN 4.0 14 73.71 –8.54 .73 122.34 70.06 FirstRepBank FRC .8 19 95.91 –8.00 .20 23.07 8.53 GrayTelevision GTN ... 6 12.42 –0.73 ...
4.46 1.55 Cemex CX 5.1 14 1.95 –0.26 .0499 126.40 90.07 Coresite COR 4.0 61 120.51 –2.38 1.22 51.79 23.59 EatonVance EV 4.4 9 33.81 –3.52 .375 52.52 32.00 FirstEnergy FE 4.0 40 39.29 –1.31 .39 21.85 8.55 GrayTelevision A GTN.A ... 7 13.25 +0.04 ...

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10.82 1.41 CenovusEnergy CVE .0 20 3.71 –0.15 .0379 9.79 2.54 CornerstoneBldg CNR ... dd 4.45 –0.53 ... 211.24 124.60 Ecolab ECL 1.0 37 194.75 –3.01 .47 7.26 2.81 Fitbit FIT ... dd 6.55 –0.14 ... 15.86 3.96 GreatAjax AJX 9.3 6 7.32 –0.92 .17
74.70 41.62 Centene CNC ... 35 68.70 +2.82 ... 34.26 17.44 Corning GLW 4.5 63 19.65 –1.97 .22 20.96 6.28 Ecopetrol EC 8.0 5 9.93 –0.78 .5352 11.88 3.27 500.com WBAI ... dd 3.43 –0.67 ... 36.65 10.86 GreatWesternBncp GWB 5.2 dd 11.55 –3.74 .15
30.71 11.58 CenterPointEner CNP 3.6 dd 16.80 –1.79 .15 8.48 1.61 CorpAmAirports CAAP ... 19 2.11 –0.34 ... 38.97 20.51 EdgewellPersonal EPC ... dd 25.64 –3.11 ... 9.31 3.62 FivePoint FPH ... dd 4.93 –0.38 ... 51.86 14.20 GreenDot GDOT ... 22 33.50 +2.00 ...
11.69 2.96 CentraisElBras EBR ... 2 3.91 –0.04 ... 30.57 15.23 CorpOfficeProp OFC 5.1 13 21.72 –3.91 .275 78.93 43.63 EdisonInt EIX 4.6 16 55.95 –1.10 .6375 59.80 17.11 FiverrIntl FVRR ... dd 59.04 +10.23 ... 34.30 12.89 Greenbrier GBX 6.5 8 16.55 –0.72 .27
30.56 12.40 CentralPacFin CPF 6.5 8 14.08 –2.27 .23 32.78 20.38 Corteva CTVA 2.3 dd 22.77 –3.21 .13 247.64 154.52 EdwardsLife EW ... 41 212.96 –4.88 ... 40.00 16.76 Flagstar FBC .8 6 24.40 –3.08 .05 23.08 7.28 Greenhill GHL 2.3 12 8.82 –0.17 .05

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9.99 1.86 CentralPuerto CEPU 3.3 3 2.95 +0.53 .0988 23.70 8.56 Cosan CZZ ... 8 10.72 –1.14 ... 26.67 10.70 8x8 EGHT ... dd 15.33 –3.64 ... 329.85 168.51 FleetCorTech FLT ... 23 222.54 –17.46 ... 13.99 9.38 GreenTree GHG ... 21 13.07 +0.07 ...
39.31 9.04 CenturyComm CCS ... 6 23.96 +0.20 ... 10.85 3.16 Costamare CMRE 9.5 5 4.21 –0.57 .10 74.44 57.07 ElPasoElectric EE 2.3 34 68.13 +0.01 .385 13.88 3.40 FlexLNG FLNG 8.7 15 4.60 –0.21 .10 50.37 23.65 Greif A GEF 6.1 10 28.76 –1.79 .44
15.30 8.16 CenturyLink CTL 10.8 8 9.27 –0.67 .25 14.14 3.02 Coty COTY .0 dd 3.29 –1.91 .125 35.46 15.17 ElancoAnimal ELAN ... dd 19.12 –0.72 ... 62.62 24.36 Floor&Decor FND ... 30 44.44 +1.54 ... 56.50 30.89 Greif B GEF.B 7.3 8 36.10 –2.87 .66
79.11 38.40 CeridianHCM CDAY ... cc 63.28 –1.98 ... 42.99 21.15 CousinsProperties CUZ 4.9 76 24.46 –4.36 .30 57.00 30.73 ElancoAnimalUn ELAT 7.1 ... 35.20 –2.44 .625 4.01 0.66 FlotekIndustries FTK ... dd .82 –0.01 ... 25.50 9.15 Griffon GFF 2.0 16 15.21 –0.63 .075
13.16 4.39 ChannelAdvisor ECOM ... 47 12.59 +0.64 ... 18.38 6.57 Covanta CVA 12.1 dd 8.28 +0.10 .25 104.10 39.01 Elastic ESTC ... dd 70.65 –1.07 ... 25.08 17.42 FlowersFoods FLO 3.3 52 22.69 +0.32 .19 110.11 26.26 Group1Auto GPI .0 5 45.87 –8.54 .30
5.93 0.21 ChaparralEnergy CHAP ... dd .51 +0.12 ... 3.88 0.36 Covia CVIA ... dd .46 –0.10 ... 11.29 3.05 EldoradoGold EGO ... 15 9.33 +0.09 ... 53.98 18.98 Flowserve FLS 3.6 15 22.44 –4.34 .20 80.25 29.35 GrubHub GRUB ... dd 54.97 +8.15 ...
5.93 1.28 CharahSolutions CHRA ... dd 1.71 +0.16 ... 91.23 36.77 Crane CR 3.6 26 47.38 –6.45 .43 12.74 5.35 ElementSolns ESI ... 25 9.67 –0.56 ... 34.43 2.85 Fluor FLR .0 dd 9.12 –1.26 .10 135.31 44.28 GpoAeroportuar PAC 6.9 14 55.89 –9.57 2.1253
179.38 95.58 CharlesRiverLabs CRL ... 34 169.81 +10.25 ... 11.90 5.43 Crawford A CRD.A 4.8 dd 5.78 –0.41 .07 5.98 0.89 ElevateCredit ELVT ... 5 1.57 –0.57 ... 23.21 3.41 FlyLeasing FLY ... 1 5.19 –0.91 ... 210.38 82.08 GpoAeroportSur ASR 4.8 10 96.83 –9.15 5.2097
20.10 3.44 ChathamLodging CLDT .0 dd 5.14 –1.86 .11 10.79 4.95 Crawford B CRD.B 3.9 dd 5.07 –0.42 .05 19.12 3.24 EllingtonFin EFC 10.0 dd 9.58 –0.69 .08 10.68 9.81 FlyingEagle FEAC ... ... 10.19 +0.19 ... 8.92 3.32 GpoAvalAcc AVAL 8.5 5 3.84 –0.24 .0245

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5.66 1.85 CheetahMobile CMCM .0 dd 2.04 +0.06 .50 240.88 118.00 Credicorp BAP 6.5 11 133.65 –12.01 2.3825 11.88 2.70 EllingtonResiMtg EARN 12.3 dd 9.10 +0.02 .28 10.73 9.15 FlyingEagleAcqn FEAC.UT ... ... 10.58 +0.25 ... 9.03 1.28 GpoSupervielle SUPV ... 2 1.95 +0.13 ...
67.98 25.89 Chegg CHGG ... dd 66.66 +3.53 ... 14.12 6.47 CreditSuisse CS .7 6 7.66 –0.75 .0713 19.07 9.33 EmbotellAndinaA AKO.A 4.3 7 11.17 –0.83 .1139 2.20 1.35 FlyingEagleWt FEAC.WT ... ... 1.73 –0.01 ... 12.61 4.65 GrupoTelevisa TV 1.6 20 4.81 –0.42 .0886
513.75 324.31 Chemed CHE .3 33 458.51 +32.22 .32 4.84 0.51 CrescentPoint CPG .6 dd 1.23 –0.05 .0018 22.01 10.15 EmbotellAndinaB AKO.B 3.9 8 13.56 –1.46 .1253 99.69 55.40 FomentoEconMex FMX 2.4 21 61.42 –6.32 .7559 18.78 9.72 GuangshenRail GSH 3.8 13 9.78 –0.37 .4348
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

25.35 7.02 Chemours CC 9.0 dd 11.09 –1.82 .25 40.00 2.65 CrestwoodEquity CEQP 22.9 5 10.94 –0.41 .625 20.92 3.99 Embraer ERJ ... dd 4.34 –0.97 ... 56.66 17.46 FootLocker FL 6.3 6 25.42 –0.34 .40 23.58 3.64 Guess GES 6.3 5 7.19 –0.97 .1125
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124.16 71.64 Guidewire GWRE ... dd 93.42 –3.82 ...
101.29 69.47 ChesapeakeUtil CPK 2.1 23 83.56 –5.14 .44 78.38 37.75 EmersonElec EMR 3.8 15 52.94 –3.16 .50
127.00 51.60 Chevron CVX 5.8 44 89.16 –6.31 1.29
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47.55 20.62 Chewy CHWY ... dd 42.11 +2.70 ... 80.57 42.97 CrownHoldings CCK ... 16 59.38 –3.69 ... 45.23 25.53 EmployersHldgs EIG 3.7 13 27.10 –2.31 .25 21.73 3.69 FortressTransport FTAI 16.1 3 8.20 –2.30 .33
5.14 0.93 Chico'sFas CHS .0 dd 1.13 –0.24 .09 33.00 12.63 CryoLife CRY ... dd 22.15 –1.00 ... 21.92 2.54 EmpresaDisCom EDN ... 0 3.35 +0.21 ... 10.08 10.00 FortressValueAcqn FVAC.UT ... ... 10.00 ... ... 151.97 58.38 HCA Healthcare HCA .0 11 98.74 –9.18 .43
22.99 6.42 ChimeraInvt CIM 26.6 dd 7.51 –0.70 .50 36.32 19.61 CubeSmart CUBE 5.6 26 23.48 –3.27 .33 14.48 1.61 EnableMidstream ENBL 15.9 5 4.16 –0.16 .1653 4.59 1.47 FortunaSilver FSM ... 38 3.96 +0.68 ... 48.24 31.61 HCI Group HCI 3.8 17 42.01 –1.25 .40
11.99 3.89 ChinaDistanceEd DL .0 14 7.23 +0.11 .56 75.20 30.86 Cubic CUB .8 cc 32.69 –5.32 .135 43.15 22.57 Enbridge ENB ... 42 31.18 –0.86 ... 73.28 33.90 FortBrandsHome FBHS 1.8 17 53.56 –2.53 .24 4.33 1.29 HC2 Holdings HCHC ... dd 2.47 –0.59 ...
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30.96 15.80 ChinaEastrnAir CEA ... 11 17.48 –1.51 ... 100.79 47.69 Cullen/Frost CFR 4.4 11 64.24 –4.36 .71 83.30 48.01 EncompassHealth EHC 1.7 19 65.23 –2.75 .28 5.42 0.15 ForumEnergyTech FET ... dd .33 –0.13 ... 65.89 29.50 HDFC Bank HDB .9 18 36.44 –4.15 .1053
6.76 1.80 ChinaGreenAg CGA ... dd 2.97 +0.27 ... 19.63 5.38 Culp CULP 7.4 32 5.65 –0.65 .105 56.76 27.21 Endava DAVA ... cc 44.03 –3.07 ... 22.14 7.99 FdnBuilding FBM ... 10 11.78 –0.19 ... 7.19 0.35 HEXO HEXO ... dd .53 +0.04 ...
14.70 8.27 ChinaLifeIns LFC .9 7 9.53 –0.62 .1187 186.73 101.03 Cummins CMI 3.4 11 155.64 –5.65 1.311 3.20 0.99 EndeavourSilver EXK ... dd 1.63 +0.19 ... 32.50 12.80 FourCornersProp FCPT 6.3 18 19.22 –2.72 .305 42.90 16.61 HNI HNI 5.8 11 20.98 –2.69 .305
46.53 30.12 ChinaMobile CHL 5.1 10 36.47 –2.01 1.1106 149.90 70.56 CurtissWright CW .8 12 85.98 –12.11 .17 11.21 5.22 EnelAmericas ENIA 7.1 7 7.27 –0.91 .081 2.39 1.06 FourSeasonsEduc FEDU ... 57 1.22 –0.14 ... 23.93 12.54 HP HPQ 4.7 7 14.86 –0.80 .1762
37.19 3.68 ChinaOnlineEduc COE ... dd 24.00 –0.52 ... 20.80 6.84 Cushman&Wkfd CWK ... dd 9.26 –1.91 ... 5.11 2.95 EnelChile ENIC ... 12 3.73 +0.06 ... 152.36 72.98 Franco-Nevada FNV .7 cc 150.66 +7.28 .26 42.17 23.88 HSBC HSBC 6.1 16 24.33 –1.30 .50
73.27 41.31 ChinaPetrol SNP 8.6 8 45.32 –2.69 2.69 25.72 8.36 CustomersBancorp CUBI ... 5 9.08 –2.30 ... 53.84 26.60 Energizer ENR 2.9 dd 41.34 +0.59 .30 6.53 1.66 Frank'sIntl FI ... dd 1.95 –0.19 ... 28.20 11.78 HUYA HUYA ... 59 17.13 +1.28 ...
8.80 0.51 ChinaRapidFin XRF ... ... 1.26 –0.44 ... 10.14 3.09 CypressEnvl CELP 21.2 8 3.96 –1.54 .21 15.26 3.75 EnergyTransfer ET 16.9 10 7.20 –0.44 .305 41.85 12.61 FranklinCovey FC ... 61 18.89 –1.83 ... 140.36 63.41 Haemonetic HAE ... 68 100.37 –5.93 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

36.43 18.45 ChinaSoAirlines ZNH 1.5 13 20.97 –1.46 .3646 27.94 13.28 EnerpacTool EPAC .3 dd 14.72 –1.52 .04 39.00 14.86 FranklinFin FSB 1.1 30 21.51 –1.59 .06 25.80 4.25 Halliburton HAL 7.3 dd 9.82 –0.88 .18
51.07 26.66 ChinaTelecom CHA 4.6 26 31.42 –2.02 1.612 8.70 1.15 Enerplus ERF 3.5 dd 2.42 –0.16 .0075 21.22 6.68 HamiltonBeach HBB 3.4 dd 10.65 –0.81 .09
11.15 5.08 ChinaUnicom CHU ... 11 6.09 –0.36 ... D 78.97 35.21 EnerSys ENS 1.3 15 55.52 –4.35 .175
35.77 14.91 FranklinRscs BEN 6.1 9 17.76 –1.44 .27
17.69 6.96 Hanesbrands HBI 7.0 6 8.52 –0.95 .15
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16.00 7.77 ChinaYuchai CYD 7.1 6 11.89 –1.12 .85 11.74 0.88 EnLinkMid ENLC 51.0 dd 1.66 –0.10 .0938 42.08 29.17 FreseniusMed FMS 1.1 18 39.29 +0.30 .6522 28.16 11.31 Hanger HNGR ... 32 15.25 –1.91 ...
974.50 415.00 Chipotle CMG ... 81 971.75 +45.92 ... 33.45 2.20 DCP Midstream DCP 19.4 dd 8.04 +0.09 .39 22.21 13.98 Ennis EBF 5.5 11 16.51 –1.15 .225 38.79 20.25 FreshDelMonte FDP .9 25 22.20 –3.14 .05 39.91 15.01 HannonArmstrong HASI 5.0 21 27.41 –2.38 .34
109.26 46.25 ChoiceHotels CHH .0 16 71.26 –2.65 .225 4.36 1.78 DHI Group DHX ... 36 2.80 –0.05 ... 29.33 7.84 EnovaIntl ENVA ... 63 10.76 –2.75 ... 13.28 6.01 FrontYardRes RESI 9.9 dd 6.05 –0.80 .15 144.71 75.11 HanoverIns THG 3.0 13 86.01 –11.60 .65
167.74 87.35 Chubb CB 3.0 12 99.49 –2.46 .75 8.83 4.77 DHT DHT 11.7 8 6.32 –0.40 .35 73.80 30.04 EnPro NPO 2.5 25 41.65 –3.83 .26 13.33 6.09 Frontline FRO 21.2 10 7.55 –0.52 .40 40.89 14.31 HarleyDavidson HOG .4 8 19.66 –1.79 .02
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37.57 33.61 ChunghwaTel CHT 3.0 27 36.99 –0.11 1.4246 10.36 1.64 DRDGOLD DRD 2.1 65 10.34 +0.74 .1315 6.46 0.75 Entercom ETM 7.3 dd 1.10 –0.01 .02 52.40 23.68 FullerHB FUL 2.0 13 32.89 –3.48 .1625 4.54 1.57 HarmonyGold HMY ... dd 3.85 +0.28 ...
80.99 47.98 Church&Dwight CHD 1.3 28 73.60 +0.25 .24 52.47 28.00 DTEEnergy DTP 8.0 ... 39.00 –1.46 .7813 135.55 75.19 Entergy ETR 3.9 17 94.98 –0.03 .93 13.42 8.75 FutureFuel FF 2.1 5 11.40 +0.68 .06 27.97 4.19 Harsco HSC ... dd 8.39 –1.56 ...
11.90 9.82 ChurchillCapII CCX.UT ... ... 10.67 +0.22 ... 135.67 71.21 DTE Energy DTE 4.2 17 97.35 –3.91 1.0125 30.87 10.27 EnterpriseProd EPD 10.3 8 17.17 –0.63 .445 3.97 1.10 HarteHanks HHS ... dd 2.37 –0.13 ...
11.08 9.25 ChurchillCapIIA CCX ... cc 10.48 +0.28 ... 58.21 7.90 DXC Tech DXC 5.5 dd 15.28 –2.37 .21 3.50 1.10 Entravision EVC 7.2 dd 1.39 –0.05 .025 62.75 19.04 HartfordFinl HIG 3.9 7 33.25 –3.10 .325
2.50 0.60 ChurchillCapCorp.IIWt CCX.WT ... ... 1.50 ... ... 20.71 4.22 Dana DAN .0 8 9.66 –1.22 .10 87.75 45.53 Envestnet ENV ... dd 63.96 –2.94 ... G 21.43 9.81 HavertyFurn HVT 5.4 14 14.86 +1.59 .20
10.59 9.20 ChurchillCapIII CCXX.UT ... ... 10.45 +0.24 ... 170.64 119.60 Danaher DHR .4 43 163.85 +2.42 .18 33.30 10.08 Envista NVST ... 14 15.90 –1.77 ... 21.25 10.67 HavertyFurn A HVT.A 5.3 15 14.35 +1.01 .19
10.40 9.66 ChurchillCapIII CCXX ... ... 10.04 +0.12 ... 14.07 2.50 Danaos DAC ... 0 3.81 –0.68 ... 39.30 20.63 EnvivaPartners EVA 8.5 cc 31.10 –3.00 .68 6.72 3.30 GAIN Capital GCAP 3.6 6 6.59 +0.19 .06 55.15 33.51 HawaiianElec HE 3.7 19 36.11 –2.08 .33
1.60 1.19 ChurchCapIII Wt CCXX.WT ... ... 1.45 +0.05 ... 81.46 30.75 DaqoNewEnergy DQ ... 23 48.20 –8.08 ... 4.85 1.56 EnzoBiochem ENZ ... 83 2.71 –0.11 ... 20.90 9.03 GAMCO Investors GBL .7 4 11.66 –0.13 .02 37.97 24.10 HealthcareRealty HR 4.1 cc 28.95 –1.71 .30
49.91 30.58 Ciena CIEN ... 28 49.65 +1.69 ... 128.41 26.15 Darden DRI .0 14 69.61 –5.11 .88 164.77 103.01 Equifax EFX 1.1 65 144.42 –4.96 .39 86.01 50.69 GATX GATX 3.5 9 55.12 –6.20 .48 34.22 20.61 HealthcareAmer HTA 5.2 cc 24.08 –1.32 .315
224.64 118.50 Cigna CI .0 15 190.15 +0.88 .04 29.57 10.25 DarlingIngred DAR ... 9 20.39 –1.81 ... 21.28 8.41 Equinor EQNR 6.3 24 13.48 –0.29 .27 27.41 14.24 GCPAppliedTechs GCP ... 47 16.64 –2.19 ... 37.93 18.63 HealthpeakProp PEAK 6.7 44 21.94 –2.31 .37
71.58 12.15 CimarexEnergy XEC 3.7 dd 23.81 –0.26 .22 90.15 43.40 DaVita DVA ... 13 79.25 –1.51 ... 27.30 9.89 Equitable EQH 3.6 2 16.50 –1.35 .15 24.03 9.95 GEO Group GEO 18.5 8 10.36 –1.14 .48 3.51 1.21 HeclaMining HL .3 dd 2.99 +0.33 .0025
16.05 3.19 CincinnatiBell CBB ... dd 14.79 ... ... 203.19 78.70 DeckersOutdoor DECK ... 14 140.83 –8.35 ... 22.13 3.75 EquitransMdstm ETRN 7.8 dd 7.72 –0.28 .15 19.00 11.92 GFLEnvironmental GFL .2 dd 17.65 +0.44 .01 147.93 52.01 Heico HEI .2 31 83.18 –7.25 .08
41.60 5.71 Cinemark CNK .0 7 11.88 –2.25 .36 181.99 106.14 Deere DE 2.4 12 126.01 –10.99 .76 35.08 27.62 EquityCommnwlth EQC .0 6 31.83 –2.17 3.50 50.50 37.37 GFL Env Un GFLU 6.5 ... 48.69 +1.17 .75 113.69 51.78 Heico A HEI.A .2 26 69.26 –2.94 .08
19.83 9.43 CinerRscs CINR 12.7 5 10.75 –0.21 .34 33.69 5.51 DelekLogistics DKL 17.8 7 19.73 +0.38 .89 77.55 41.97 EquityLife ELS 2.4 44 56.79 –4.57 .3425 32.42 10.39 GMS GMS ... 9 17.74 –0.65 ... 10.00 0.99 HelixEnergy HLX ... 7 2.07 –0.28 ...
47.80 8.00 CircorIntl CIR ... dd 10.68 –1.29 ... 44.08 7.79 DelekUS DK 6.8 dd 17.89 –4.30 .31 89.55 49.62 EquityResdntl EQR 4.2 18 57.13 –7.09 .6025 3.42 0.38 GNC Holdings GNC ... dd .47 –0.09 ... 57.66 12.40 Helm&Payne HP 16.2 dd 17.55 –0.18 .71
83.11 32.00 Citigroup C 4.9 6 41.92 –4.40 .51 70.55 25.51 DellTechC DELL ... 7 42.09 –1.56 ... 1.89 0.74 EquusTotReturn EQS ... dd 1.05 –0.12 ... 23.30 1.85 GOL Linhas GOL ... dd 3.73 –0.20 ... 48.82 20.73 Herbalife HLF ... 22 40.00 –1.23 ...
41.29 14.12 CitizensFin CFG 7.5 7 19.92 –2.28 .39 20.84 5.39 DelphiTechs DLPH ... dd 11.21 –0.87 ... 11.97 3.50 EraGroup ERA ... dd 4.88 –0.09 ... 16.68 5.20 GP Strategies GPX ... 8 6.19 –0.39 ... 50.81 11.81 HercHoldings HRI ... 13 21.96 –3.57 ...
7.72 3.55 Citizens CIA ... dd 5.38 –0.31 ... 63.44 17.51 DeltaAir DAL .0 4 19.19 –3.53 .4025 8.23 1.10 ErosIntl EROS ... dd 2.93 –0.30 ... 46.40 8.53 GSXTechedu GSX ... cc 35.43 –6.55 ... 16.40 5.42 HerculesCapital HTGC 12.4 13 10.35 –0.57 .32
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14.50 6.50 CityOfficeREIT CIO 7.3 dd 8.26 –2.21 .15 54.15 18.90 Deluxe DLX 6.2 dd 19.50 –5.48 .30 55.84 17.52 EssentGroup ESNT 2.4 5 26.78 –1.09 .16 27.59 4.67 GTT Comm GTT ... dd 9.04 –0.22 ... 16.38 7.50 HeritageInsurance HRTG 2.1 11 11.42 –0.63 .06
1.81 0.34 Civeo CVEO ... dd .46 –0.09 ... 1.91 0.16 DenburyRscs DNR ... 1 .24 –0.06 ... 29.34 6.08 EssentialProp EPRT 7.8 18 11.74 –1.58 .23 10.34 9.20 GalileoAcqn GLEO ... ... 9.72 +0.02 ... 4.68 0.31 HermitageOffsh PSV ... dd .52 –0.03 ...
24.98 12.70 Clarivate CCC ... dd 23.32 –0.37 ... 20.83 2.60 DesignerBrands DBI 8.1 4 4.95 –1.05 .10 54.52 30.40 EssentialUtil WTRG 2.4 35 39.11 –1.19 .2343 0.83 0.16 GalileoAcqnWt GLEO.WT ... ... .20 –0.03 ... 18.50 2.29 HershaHospitality HT .0 dd 4.09 –0.65 .28
88.40 29.45 CleanHarbors CLH ... 26 49.60 –3.78 ... 15.44 4.44 Despegar.com DESP ... dd 5.55 –0.06 ... 70.71 41.66 EssentialUtilUn WTRU 5.7 ... 53.53 –0.73 .75 109.46 65.09 Gallagher AJG 2.1 25 87.23 +0.83 .45 162.20 109.88 Hershey HSY 2.4 25 130.38 –2.81 .773
5.47 0.36 ClearChannelOutdr CCO ... dd .88 +0.03 ... 11.16 4.99 DeutscheBank DB ... dd 6.44 –0.69 ... 334.17 175.81 EssexProp ESS 3.7 24 226.55 –20.10 2.0775 8.78 2.57 GameStop GME ... dd 4.22 –0.76 ... 20.85 2.32 HertzGlobal HTZ ... dd 2.64 –0.63 ...
31.49 11.88 ClearwaterPaper CLW ... cc 28.24 –0.76 ... 31.28 4.70 DevonEnergy DVN 3.7 dd 11.95 –0.75 .11 220.42 137.01 EsteeLauder EL .0 48 169.41 –3.74 .48 11.35 0.63 Gannett GCI .0 dd .95 –0.14 .38 74.11 26.06 Hess HES 2.3 dd 44.07 –4.41 .25
22.67 14.07 ClearwayEnergyA CWEN.A 4.3 dd 18.97 –0.42 .21 176.22 100.52 Diageo DEO 2.5 21 134.62 –4.49 1.3623 22.76 8.38 EthanAllen ETH .0 17 10.92 –0.62 .21 22.54 5.26 Gap GPS .0 8 7.60 –0.50 .2425 25.66 5.70 HessMidstream HESM 9.6 9 17.27 +1.11 .431
23.24 14.77 ClearwayEnergyC CWEN 4.0 dd 20.36 –0.66 .21 17.50 8.62 DiamondSShip DSSI ... 11 9.67 –1.71 ... 18.53 2.50 GarrettMotion GTX ... 1 4.66 –1.39 ... 17.59 7.43 HewlettPackard HPE 5.3 10 9.11 –1.14 .12
no

13.21 7.21 Euronav EURN 3.6 7 9.81 –0.65 .81


11.61 2.63 Cleveland-Cliffs CLF .0 4 4.10 –0.72 .06 11.79 1.96 DiamndrckHspty DRH .0 6 4.38 –1.09 .125 22.90 5.71 Eventbrite EB ... dd 6.43 –3.85 ... 171.78 76.91 Gartner IT ... 35 111.53 –11.05 ... 87.00 24.54 Hexcel HXL .0 9 27.73 –2.12 .17
13.25 4.32 ClipperRealty CLPR 6.5 dd 5.82 +0.27 .095 4.15 1.25 DianaShipping DSX ... dd 1.53 –0.25 ... 91.59 33.25 EvercoreA EVR 4.7 8 49.25 –3.27 .58 15.61 2.67 GasLog GLOG 5.7 dd 3.51 –0.65 .05 3.25 0.15 Hi-Crush HCR ... dd .24 –0.03 ...
214.26 144.12 Clorox CLX 2.0 31 209.83 +5.78 1.06 49.80 13.46 Dick's DKS .0 8 27.79 –2.02 .3125 294.31 157.32 EverestRe RE 3.7 10 168.94 –7.86 1.55 21.95 1.51 GasLogPartners GLOP 33.1 dd 5.39 +0.02 .125 2.34 0.16 HighPointRscs HPR ... dd .28 ... ...
12.22 4.76 Cloudera CLDR ... dd 8.40 –0.22 ... 14.66 2.80 DieboldNixdorf DBD ... dd 4.52 –0.66 ... 76.57 42.01 Evergy EVRG 3.6 21 56.54 –0.96 .505 14.30 5.42 GatesIndustrial GTES ... 22 8.59 –0.34 ... 52.76 25.10 HighwoodsProp HIW 6.1 10 31.52 –5.52 .48
30.78 14.50 Cloudflare NET ... dd 29.49 +3.23 ... 158.36 105.00 DigitalRealty DLR 3.4 47 130.77 –14.29 1.12 14.88 1.55 Everi EVRI ... 21 4.39 –0.40 ... 11.82 4.27 GencoShipping GNK 1.7 dd 4.58 –0.81 .02 3.72 1.08 HillIntl HIL ... 8 1.38 –0.26 ...
6.59 3.40 CN Finance CNF ... 4 3.71 –0.59 ... 86.71 21.50 Dillard's DDS 2.3 dd 25.85 –2.41 .15 99.42 60.69 EversourceEner ES 3.0 27 76.39 –1.40 .5675 118.86 54.19 Generac GNRC ... 26 104.70 +0.84 ... 117.50 72.29 Hill-Rom HRC .4 46 99.84 –4.36 .22
60.13 36.27 Coca-Cola KO 3.8 19 43.26 –2.85 .41 104.47 14.16 DineBrands DIN .0 7 36.51 –5.14 .76 37.38 18.21 Evertec EVTC .8 19 25.47 –0.53 .05 193.76 100.55 GeneralDynamics GD 3.4 11 130.92 –4.43 1.10 40.27 13.61 Hillenbrand HI 4.0 dd 21.40 –0.05 .2125
58.94 28.35 Coca-Cola Euro CCEP 3.9 14 35.12 –4.28 .6876 92.98 23.25 DiscoverFinSvcs DFS 4.6 6 38.00 –4.72 .44 14.79 3.50 EvolentHealth EVH ... dd 7.58 +0.50 ... 13.26 5.48 GeneralElec GE .7 8 5.49 –0.80 .01 26.28 11.05 Hilltop HTH 2.5 6 14.24 –2.68 .09
65.58 37.73 Coca-Cola Femsa KOF 4.9 38 38.93 –1.39 .9995 153.41 79.07 Disney DIS .0 37 109.05 –0.11 .88 25.23 7.09 EvoquaWater AQUA ... 29 16.14 –0.39 ... 64.31 46.59 GeneralMills GIS 3.1 18 62.49 +2.73 .49 36.56 8.28 HiltonGrandVac HGV ... 9 17.77 –1.33 ...
8.29 1.98 CoeurMining CDE ... dd 5.10 +0.93 ... 11.00 9.19 dMY Tech DMYT.UT ... ... 10.09 +0.09 ... 12.51 0.95 ExantasCap XAN .0 dd 2.05 –0.49 .275 41.90 14.33 GeneralMotors GM .0 7 22.63 –1.30 .38 115.48 44.30 Hilton HLT .0 27 68.54 –3.65 .15
78.23 33.52 Cohen&Steers CNS 2.6 24 59.50 –4.40 .39 10.00 9.60 dMY TechA DMYT ... ... 9.75 +0.15 ... 6.24 1.27 Express EXPR ... dd 1.67 –0.13 ... 53.20 5.52 Genesco GCO ... 4 15.33 –3.29 ... 18.92 4.67 HoeghLNG Ptrs HMLP 17.2 8 10.22 –0.88 .44
39.30 12.23 Colfax CFX ... dd 25.27 –1.81 ... 73.20 44.68 DolbyLab DLB 1.6 25 53.65 –4.43 .22 14.89 3.24 Exterran EXTN ... dd 4.80 –0.75 ... 23.84 2.58 GenesisEnergy GEL 9.4 26 6.41 –0.02 .15 30.61 6.57 HollyEnergy HEP 9.5 8 14.70 –0.40 .35
166.81 61.50 ColfaxUn CFXA 5.1 ... 113.20 –5.41 1.4375 184.95 118.20 DollarGeneral DG .8 27 182.02 +5.66 .36 124.46 72.70 ExtraSpaceSt EXR 4.4 25 81.81 –9.88 .90 1.86 0.58 GenesisHealthcare GEN ... 20 .59 –0.12 ... 58.88 18.48 HollyFrontier HFC 5.2 22 26.87 –4.34 .35
77.41 58.49 ColgatePalm CL 2.6 24 68.95 –0.42 .44 90.89 57.79 DominionEner D 4.8 37 78.22 –0.18 .94 77.93 30.11 ExxonMobil XOM 8.3 16 42.00 –4.18 .87 11.98 4.60 GenieEnergy GNE 4.2 97 8.13 +0.15 .085 247.36 140.63 HomeDepot HD 2.5 23 239.33 +4.90 1.50
11.95 9.46 CollierCreek CCH.UT ... cc 11.65 +0.67 ... 113.82 75.93 DominionEnerUn DCUE 7.3 ... 99.50 –0.07 1.8125 45.20 19.41 Genpact G 1.2 19 32.71 –2.95 .0975 29.44 19.38 HondaMotor HMC 3.8 9 22.94 –1.03 .2613
11.10 9.84 CollierCreek CCH ... cc 10.73 +0.26 ... 387.85 220.90 Domino's DPZ .8 36 376.04 +6.93 .78 108.58 49.68 GenuineParts GPC 4.3 18 73.12 –3.32 .79 184.06 101.08 Honeywell HON 2.9 14 125.41 –11.50 .90
2.10 1.15 CollierCreekWt CCH.WT ... ... 1.89 +0.41 ... 44.76 18.40 Domtar UFS .0 cc 19.35 –4.31 .455 F 4.93 2.50 GenworthFin GNW ... 22 2.70 –0.38 ... 48.15 30.48 HoraceMannEdu HMN 3.7 8 32.52 –2.88 .30
6.14 1.33 ColonyCapital CLNY .0 dd 1.52 –0.50 .11 58.32 31.08 Donaldson DCI 2.0 21 42.13 –2.52 .21 22.53 5.44 GeoPark GPRK 2.1 dd 7.99 –0.75 .0413 5.79 1.20 HorizonGlobal HZN ... dd 1.46 –0.39 ...
16.36 2.46 ColonyCredRlEst CLNC .0 dd 3.81 –1.42 .10 14.77 4.04 DonnelleyFin DFIN ... 5 6.68 –1.19 ... 40.33 14.38 FB Financial FBK 1.8 10 20.18 –2.04 .09 5.34 1.65 Gerdau GGB 2.4 8 1.90 –0.39 .0168 51.53 37.00 HormelFoods HRL 1.9 27 47.92 +0.68 .2325
22.72 7.63 ColumbiaProperty CXP 7.3 dd 11.48 –1.96 .21 16.68 6.08 DorianLPG LPG ... 6 7.53 –1.02 ... 66.82 29.01 FBL Financial FFG 5.9 9 33.88 –4.58 1.50 33.75 16.36 GettyRealty GTY 6.3 19 23.41 –4.02 .37 62.54 25.51 DR Horton DHI 1.5 9 47.21 –2.38 .175
74.54 24.28 Comerica CMA 9.1 6 30.04 –3.85 .68 56.89 24.12 DouglasDynamics PLOW 3.8 17 29.28 –2.76 .28 12.46 6.31 FGL Holdings FG .4 dd 10.31 –0.04 .01 10.00 9.87 GigCapital3Un GIK.UT ... ... 9.91 –0.09 ... 19.43 7.86 HostHotels HST 8.0 10 10.06 –1.00 .20
53.66 27.54 ComfortSystems FIX 1.4 10 30.61 –2.58 .105 45.59 23.16 DouglasEmmett DEI 4.4 12 25.34 –4.18 .28 2.97 0.85 FGL Wt FG.WT ... ... 2.12 –0.43 ... 10.07 9.60 GigCapital2 GIX ... cc 9.95 –0.05 ... 63.52 41.80 HoulihanLokey HLI 2.0 22 62.03 +0.70 .31
May 18, 2020 BARRON’S M15

New York Stock Exchange Composite List


52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. NYSE CUMULATIVE DAILY BREADTH vs DJIA
32.90 5.12 Hovnanian HOV ... dd 11.14 –1.14 ... 20.53 7.45 KeyCorp KEY 7.6 7 9.72 –1.56 .185 16.06 6.30 MagnaChipSem MX ... dd 9.92 –1.52 ...
135.42 35.10 HowardHughes HHC ... dd 42.58 –12.13 ... 110.00 71.03 KeysightTechs KEYS ... 27 94.78 –5.91 ... 13.29 3.23 MagnoliaOil MGY ... dd 5.49 +0.48 ...
27.87 9.25 HowmetAerospace HWM .0 10 10.77 –1.85 .0163 88.99 45.96 KilroyRealty KRC 3.8 28 51.49 –9.01 .485 45.10 14.11 MainStreetCap MAIN 8.6 dd 28.71 +1.80 .205 Watch Your Step: NYSE Composite breadth fell for the first time in
16.82 7.27 Huami HMI ... 8 10.46 –3.04 ... 18.60 3.51 KimbellRoyalty KRP 21.6 dd 6.31 –0.23 .17 15.35 1.00 Mallinckrodt MNK ... dd 3.13 +0.08 ...
25.84 11.69 HuanengPower HNP 4.5 22 14.76 +0.73 .7645 149.23 110.66 KimberlyClark KMB 3.1 20 138.64 +0.13 1.07 20.48 12.06 ManchesterUnited MANU 1.1 95 16.05 –0.04 .09 three weeks and the S&P 500 suffered its worst weekly drop since
155.00 85.62 Hubbell HUBB 3.2 15 113.59 –8.88 .91 21.86 7.45 KimcoRealty KIM .0 12 9.15 –1.75 .28 18.55 7.24 Manitowoc MTW ... 4 8.16 –0.78 ...
207.98 90.84 HubSpot HUBS ... dd 183.62 –0.63 ... 22.58 9.42 KinderMorgan KMI 7.1 26 14.84 –0.51 .2625 3.94 0.99 Manning&Napier MN .0 38 2.71 –0.61 .02 March. Losing stocks outpaced winners by 5 to 1.
5.74 1.23 HudbayMinerals HBM .6 dd 2.23 –0.27 .0074 2.95 1.26 KingswayFin KFS ... dd 1.95 +0.21 ... 100.99 49.57 Manpower MAN 3.4 9 64.75 –7.09 1.09 BREADTH DJIA
15.87 2.26 Hudson HUD ... 52 4.52 –1.49 ... 7.47 2.72 KinrossGold KGC ... 12 7.44 +0.42 ... 21.23 8.62 ManulifeFin MFC 7.0 7 11.37 –0.90 .1979
38.81 16.14 HudsonPacProp HPP 5.0 34 19.89 –3.57 .25
398.82 208.25 Humana HUM .6 20 398.22 +20.72 .625
92.30
51.08
32.76
18.02
Kirby
KirklandLakeGold
KEX ... dd 47.47 –4.75 ...
KL 1.2 14 40.97 –2.06 .06
16.02
69.65
3.02
15.26
MarathonOil
MarathonPetrol
MRO
MPC
.0
7.7
18
dd
5.61
30.30
–0.17
–2.73
.05
.58
554000 29500
3.50 0.86 HuntCosFin HCFT 15.0 8 2.00 +0.07 .075 19.77 6.87 KiteRealty KRG 15.4 dd 8.26 –2.10 .3175 38.24 21.90 Marcus&Millichap MMI ... 14 25.85 –2.71 ...
279.71 147.14 HuntingIngalls HII 2.4 12 170.54 –10.04 1.03 40.46 27.03 Knight-Swift KNX .8 23 37.76 +0.03 .08 37.64 6.95 Marcus MCS .0 17 10.89 –1.82 .17
24.90 12.23 Huntsman HUN 4.4 22 14.83 –0.87 .1625 28.30 7.74 Knoll KNL 1.6 8 9.79 –1.49 .04 18.43 6.77 MarineProducts MPX 3.4 13 9.47 –0.25 .08 536400 27400
94.98 24.02 HyattHotels H .0 8 47.08 –6.01 .20 20.97 8.67 KnotOffshore KNOP 16.0 7 13.03 –0.40 .52 23.15 7.25 MarineMax HZO ... 9 16.16 +0.54 ... s
30.25

.
65.41 HysterYaleMatls HY 3.8 12 33.19 –4.19 .3175 22.79 11.10 Knowles KN ... 29 12.99 –1.53 ... 1347.64 710.52 Markel MKL ... dd 831.55 –38.16 ... BREADTH 538,646
64.63 10.89 Kohl's KSS .0 4 17.54 –0.66 .704 131.27 30.10 MarriottVacations VAC .0 24 75.78 –6.72 .54
518800 25300
I

ly
50.78 30.50 KoninklijkePhil PHG ... 26 41.24 –2.07 ... 119.88 74.33 Marsh&McLen MMC 1.7 30 104.47 +0.49 .455 s
43.24 12.91 KontoorBrands KTB .0 10 13.84 –4.22 .56 281.82 135.08 MartinMarietta MLM 1.3 18 168.07 –8.52 .55
44.75 8.25 Koppers KOP ... 5 11.95 –3.55 ... 50.06 27.04 Masco MAS 1.3 27 42.72 +0.58 .135 DJIA
51.74 21.79 IAA IAA ... 26 35.73 –2.98 ...
15.42 6.86 ICICI Bank IBN .3 21 8.46 –0.56 .0282
12.30 6.28 KoreaElcPwr KEP ... dd 8.77 –0.32 ... 89.21
73.71
34.88
22.51
MasoniteIntl
MasTec
DOOR
MTZ
...
...
20
7
57.00
33.12
–7.56
–3.38
...
...
501200 23200
48.81 21.45 KornFerry KFY 1.6 9 25.78 –2.91 .10
5.50 2.68 ICL Group ICL 4.8 10 3.11 –0.56 .023 7.55 0.50 KosmosEnergy KOS 11.5 dd 1.57 +0.08 .0452 347.25 199.99 Mastercard MA .6 36 278.94 –3.50 .40
114.01 69.05 IDACORP IDA 3.2 19 84.91 –7.07 .67 35.00 4.45 Kraton KRA ... 1 10.98 –3.67 ... 20.75 1.11 MatadorRscs MTDR ... 4 7.22 –0.39 ...

on
11.84 4.81 IDT IDT ... cc
31
5.63 –0.15 ... 36.84 20.70 Kroger KR 2.0 16 32.51 –0.83 .16 68.75 26.15 Materion MTRN .9 34 50.52 –1.24 .115 483600 21100
81.65 44.81 IHS Markit INFO 1.0 66.56 –0.51 .17 16.00 6.81 KronosWorldwide KRO 8.7 11 8.23 –1.21 .18 42.16 23.75 Matson MATX 3.5 15 24.92 –3.21 .22
12.44 4.52 ING Groep ING 11.7 4 5.26 –0.23 .2687 13.62 8.50 MauiLand MLP ... dd 10.28 –0.09 ...
21.10 6.38 Invesco IVZ 9.3 7 6.70 –1.28 .155 .01
10.73 1.13 IONGeophysical IO ... dd 2.17 –0.47 ... L 21.45
82.02
5.79
46.42
MaxarTech
Maximus
MAXR
MMS
.4
1.7
5
20
9.40
65.46
–1.89
–3.26 .28 466000 19000
169.14 81.79 IQVIA IQV ... cc 134.20 –3.45 ... 26.20 7.79 MaxLinear MXL ... dd 15.63 –1.17 ... J J A S O N D J F M A M
10.74 2.77 IRSA IRS ... dd 3.28 +0.17 ... 10.60 2.01 LAIX LAIX ... dd 3.48 +0.20 ... 16.95 3.89 MayvilleEngg MEC ... dd 5.16 –0.97 ...
75.56 35.41 ITT ITT 1.4 13 48.51 –2.83 .169 12.16 1.75 LatamAirlines LTM ... 9 2.76 –0.41 ... 180.18 112.23 McCormick MKC 1.4 34 177.98 +13.95 .62 In generating this chart, we subtract each day's NYSE composite declines from that day's advances. The resultant total is

us ,
4.17 1.44 IamGold IAG ... dd 3.88 +0.16 ... 28.02 8.00 L Brands LB .0 dd 10.86 –1.36 .30 179.80 113.12 McCormickVtg MKC.V 1.4 34 179.80 +16.94 .62
178.14 104.56 IDEX IEX 1.3 27 148.42 –6.28 .50 added to the next day's total, and so on. When all five days' numbers are added together, this produces the weekly figure we
116.51 55.29 LCI Inds LCII 3.0 16 86.62 –0.90 .65 221.93 124.23 McDonalds MCD 2.9 23 173.81 –7.42 1.25 plot. Dec. 31, 1985 =1000.

l
190.85 115.94 IllinoisToolWks ITW 2.7 20 155.68 –5.33 1.07 7.82 3.64 LG Display LPL ... dd 4.06 –0.38 ... 2.14 0.53 McEwenMining MUX ... dd .93 –0.05 ...
23.53 6.01 Imax IMAX ... dd 11.36 –0.79 ... 10.00 8.55 LGLS ysAcqn DFNS ... ... 9.73 –0.08 ...

e
172.18 112.60 McKesson MCK 1.2 dd 136.45 +0.48 .41

al a
57.20 1.08 IndependenceContr ICD ... dd 5.71 –0.44 ... 10.71 9.00 LGL Systems Un DFNS.UT ... ... 10.00 –0.02 ... 3.43 1.28 Mechel MTL ... 13 1.60 –0.10 ...
43.60 22.00 Independence IHC 1.6 53 27.82 –0.57 .22 0.59 0.44 LGLSysAcqnWt DFNS.WT ... ... .59 +0.09 ... 44.72 16.04 Medallia MDLA ... dd 24.67 +0.94 ...
16.85 6.86 IndepRealty IRT 7.9 19 9.08 –0.80 .18 52-Week Tick Div 52-Week Tick Div
51.97 27.04 Line LN ... dd 49.57 –0.05 ... 24.29 12.35 MedicalProp MPW 6.7 20 16.03 –1.87 .27
57.00 28.04 IndustrsBachoco IBA 2.2 9 33.61 –1.43 .439 6.76 1.05 LSB Inds LXU ... dd 1.10 –0.50 ...
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
148.72 49.03 Medifast MED 4.9 15 91.37 –4.25 1.13
12.08 6.76 Infosys INFY 2.8 16 8.70 –0.47 .1125

ci on
53.04 24.49 LTC Properties LTC 7.1 10 32.20 –3.08 .19 3.06 0.35 MedleyCapital MCC ... dd .58 +0.08 ... 9.99 3.26 NeoPhotonics NPTN ... cc 7.67 –1.14 ... 21.87 5.93 OrionEngCarbons OEC .0 5 7.06 –1.55 .20
38.96 17.01 IngersollRand IR ... 65 26.42 –2.75 ... 230.99 142.01 L3HarrisTech LHX 1.9 25 176.78 –4.17 .85 3.65 0.28 MedleyMgmt MDLY ... dd .33 ... ... 10.31 1.38 Nesco NSCO ... dd 2.06 –0.48 ... 5.99 1.53 OrionGroup ORN ... 12 2.21 –0.07 ...
108.20 24.92 Ingevity NGVT ... 9 45.83 –2.61 ... 37.48 15.61 La-Z-Boy LZB 2.5 14 22.77 –1.44 .14 28.66 7.37 Mednax MD ... dd 13.42 –1.20 ... 1.70 0.10 NescoWt NSCO.WT ... ... .15 –0.02 ... 89.21 52.65 Orix IX 2.4 5 57.85 –0.84 1.8612
99.51 59.11 Ingredion INGR 3.2 14 78.13 –5.98 .63 196.36 98.02 LabCpAm LH ... 52 167.43 +0.17 ... 122.15 72.13 Medtronic MDT 2.3 24 93.89 –5.14 .54 148.05 57.50 Nevro NVRO ... dd 117.66 –7.23 ... 87.07 55.22 OrmatTech ORA .7 38 65.45 +2.36 .11
139.53 40.21 InnovativeIndProp IIPR 4.6 31 74.02 –1.49 1.00 18.97 2.65 LadderCapital LADR 20.3 9 6.69 –1.49 .34 10.68 9.87 MegalithFinAcqn MFAC ... 81 10.40 +0.04 ... 10.83 7.00 NewFrontierHlth NFH ... dd 8.30 +0.25 ... 95.62 46.72 Oshkosh OSK 2.0 9 61.01 –5.64 .30
117.21 39.34 Inphi IPHI ... dd 105.11 –5.67 ... 96.32 39.06 LambWeston LW 1.8 16 52.09 –9.45 .23 10.94 10.11 MegalithFinUn MFAC.UT ... cc 10.50 +0.34 ... 1.95 0.61 NewFrontierWt NFH.WT ... ... 1.41 +0.06 ... 13.43 4.65 OsiskoGoldRoyal OR 1.4 dd 10.34 +0.77 .0355
144.92 22.59 Insperity NSP 3.6 13 44.80 –9.52 .40 15.52 5.16 Lannett LCI ... dd 6.76 –0.54 ... 0.58 0.10 MegalithFinWt MFAC.WT ... ... .34 +0.14 ... 6.00 0.94 NewHome NWHM ... dd 2.55 +0.09 ... 10.50 9.40 OspreyTechUn SFTW.UT ... ... 10.05 +0.05 ...
95.00 40.53 InspireMedical INSP ... dd 75.53 +4.09 ... 3.45 0.33 LaredoPetrol LPI ... dd .78 –0.21 ... 92.64 65.25 Merck MRK 3.1 20 79.78 +3.38 .61 51.20 21.14 NewJerseyRscs NJR 4.2 15 30.07 –5.24 .3125 10.33 9.11 OspreyTechA SFTW ... ... 9.60 –0.13 ...
80.25 29.02 InstalledBldg IBP ... 20 50.34 –5.00 ... 74.29 33.30 LasVegasSands LVS .0 16 44.76 –6.18 .79 65.22 33.45 MercuryGeneral MCY 6.6 47 37.97 +2.15 .63 14.45 4.62 NewMountainFin NMFC 15.2 dd 7.91 –0.04 .30 1.05 0.51 OspreyTechWt SFTW.WT ... ... .56 –0.06 ...
99.95 46.01 IntegerHoldings ITGR ... 24 73.45 –3.01 ... 44.95 20.94 Lazard LAZ 7.4 12 25.57 –1.13 .47 58.25 10.01 Meredith MDP .0 dd 11.57 –3.23 .595 142.38 80.18 NewOrientalEduc EDU ... 46 117.58 –10.07 ... 54.17 38.00 OtisWorldwide OTIS 1.6 ... 48.89 –4.06 .20

er s
27.29 0.33 Intelsat I ... dd .40 –0.66 ... 7.89 1.03 Leaf LEAF ... dd 1.90 +0.26 ... 76.83 25.24 MeritageHomes MTH ... 8 56.86 –2.64 ... 101.82 33.49 NewRelic NEWR ... dd 63.89 +5.34 ... 31.20 7.07 OutfrontMedia OUT .0 13 12.60 –2.78 .38
101.93 63.51 ICE ICE 1.3 25 93.47 –0.05 .30 143.50 63.20 Lear LEA .0 9 95.46 –5.91 .77 27.18 10.91 Meritor MTOR ... 3 17.66 –1.96 ... 17.66 2.91 NewResidInvt NRZ 3.4 dd 5.91 –0.69 .05 2.81 1.46 OverseasShip OSG ... 6 1.95 –0.52 ...
71.02 25.39 InterContinentl IHG 1.0 19 39.76 –5.60 .399 0.71
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3.21 LeeEnterprises LEE ... 5 .75 –0.02 ... 13.05 3.88 MesaRoyalty MTR 12.2 6 5.70 –0.15 .0507 8.35 1.72 NewSeniorInvt SNR 11.2 dd 2.32 –0.58 .065 34.28 2.10 Ovintiv OVV 5.9 3 6.34 +0.54 .0938
47.46 22.14 IntercorpFinSvcs IFS 7.0 8 25.10 +0.12 1.75 11.33 9.50 LegacyAcqn LGC ... cc 10.37 –0.03 ... 31.50 9.76 MesabiTrust MSB 17.2 6 13.59 –0.82 .56 13.79 8.19 NY CmntyBcp NYCB 7.6 11 8.90 –1.10 .17 9.69 2.43 Owens&Minor OMI .1 dd 6.83 +0.08 .0025
158.75
152.95
90.56
92.14
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5.6
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116.98
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21.76
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27.39
31.72
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505.16
26.13
304.65
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56.11 31.38 IntlFlavorsUn IFFT 6.4 ... 46.74 –1.56 .75 55.42 22.03 Leggett&Platt LEG 6.0 11 26.61 –3.19 .40 7 68.47 30.32 Newmont NEM 1.5 16 67.90 +3.35 .25 80.55 30.37 OxfordIndustries OXM 2.7 9 37.16 –4.17 .25
51.09 15.52 MetropolitanBk MCB ... 21.90 –2.59 ...
16.25 3.59 IntlGameTech IGT 11.5 dd 6.93 –0.66 .20 125.84 68.00 Leidos LDOS 1.4 24 96.82 –5.88 .34 32 dd
873.51 579.40 MettlerToledo MTD ... 698.70 –20.87 ... 8.08 0.65 NewparkResources NR ... 1.58 –0.02 ...
47.64 26.38 IntlPaper IP 6.6 19 31.05 –3.30 .5125
31.39
10.27
14.89
9.30
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21.30
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2.69
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27.25
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11.1
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38
5.01
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25.20 11.63 Interpublic IPG 6.6 15.37 –1.95 .255
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56.32 18.87 Lennar B LEN.B 1.3 6 38.32 –2.39 .125 59.93 27.28 MineralsTechs MTX .5 11 41.40 –3.36 .05 283.35 174.80 NextEraEnergy NEE 2.5 32 227.85 –1.88 1.40 34.91 5.19 PBF Energy PBF .0 3 9.09 –1.54 .30
3.87 0.60 IntrepidPotash IPI ... ... .95 –0.11 ... 298.49 163.40 LennoxIntl LII 1.7 20 180.92 –10.56 .77 22.00 3.06 PBF Logistics PBFX 23.9 5 8.70 +0.53 .52
16.95 2.77 MistrasGroup MG ... 17 3.59 –0.85 ... 56.74 35.40 NextEraEnergyUn NEE.PRO 5.0 ... 47.19 –0.21 .609
11.63 3.90 Invacare IVC .8 dd 5.89 ... .0125 10.79 9.22 LeoHoldings LHC ... dd 10.32 +0.01 ... 25.19 3.55 PG&E PCG ... dd 11.33 –0.26 ...
5.54 3.32 MitsubishiUFJ MUFG 4.7 9 3.81 –0.15 .1147 50.00 33.92 NextEraEnergyUn NEE.PRP 6.6 ... 41.90 –0.25 .6599
18.30 1.82 InvescoMtg IVR 74.6 1 2.68 –0.07 .50 1.65 0.16 LeoHldgsWt LHC.WT ... ... .62 –0.03 ... dd 18.48 6.88 PGT Innovations PGTI ... 13 11.33 +0.60 ...
11 17.50 6.64 MiXTelematics MIXT 2.5 10 8.03 –1.15 .0677 61.87 29.01 NextEraEnergy NEP 4.5 46.72 –3.80 .555
85.24 43.58 InvRlEst IRET 4.5 61.54 –0.78 .70 23.74 9.09 LeviStrauss LEVI 3.4 12 12.09 –0.75 .08 54.26 23.63 PJT Partners PJT .4 25 47.68 –0.97 .05
dd 3.20 1.96 MizuhoFin MFG ... 33 2.25 –0.04 ... 9.68 1.00 NexTierOilfield NEX ... dd 2.42 –0.27 ...
28.75 7.42 Invitae NVTA ... 16.48 –0.68 ... 11.82 7.86 LexingtonRealty LXP 4.8 8 8.77 –1.59 .105 26.28 15.91 PLDT PHI 4.4 12 23.66 –0.55 .6935
cc 11.00 6.20 MobileTeleSys MBT 8.5 9 8.55 –0.21 .3457 24.69 11.62 NielsenHoldings NLSN 1.9 dd 12.71 –1.44 .06
32.70 15.64 InvitatHomes INVH 2.5 24.10 –0.83 .15 161.79 79.41 PNC Fin PNC 4.7 9 97.25 –7.78 1.15
34.49 21.00 IronMountain IRM 11.0 21 22.42 –2.15 .6185
16.79 2.17 LibertyOilfield LBRT .0 29 4.34 –0.37 .05 35.84 15.00 ModelN MODN ... dd 32.43 +0.59 ... 105.62 60.00 Nike NKE 1.1 32 86.99 –3.47 .245
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

119.61 67.31 LifeStorage LSI 5.1 15 84.18 –8.57 1.07 14.96 2.84 ModineMfg MOD ... 17 3.54 –0.66 ... 22.49 0.38 NineEnergy NINE ... dd 1.71 +0.30 ... 56.14 27.08 PNM Resources PNM 3.3 69 37.21 –2.14 .3075
17.50 5.48 iStar STAR 4.4 3 9.02 –0.81 .10 1.58 0.58 LightInTheBox LITB ... dd .79 –0.01 ... 54.53 26.27 POSCO PKX 3.9 7 34.27 –3.02 1.0612
12.82 3.20 ItauCorpBanca ITCB ... 8 3.50 –0.66 ... 41.27 22.11 Moelis MC 3.6 14 28.45 –2.15 .255 30.67 19.56 NiSource NI 3.8 45 22.37 –0.90 .21
164.90 101.36 EliLilly LLY 1.9 26 159.23 +5.72 .74 156.60 56.62 MohawkInds MHK ... 8 76.58 –8.28 ... 47.87 20.42 NoahHoldings NOAH ... 13 26.22 –0.70 ... 134.36 69.77 PPG Ind PPG 2.3 18 86.92 –5.06 .51
10.01 3.48 ItauUnibanco ITUB 3.5 5 3.75 –0.23 .003 .415
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67.17 16.11 LincolnNational LNC 4.9 10 32.75 –3.90 .40 187.83 102.85 MolinaHealthcare MOH ... 16 181.42 +5.87 ... 2.34 0.15 Noble NE ... dd .17 –0.05 ... 36.83 18.12 PPL PPL 6.8 10 24.51 –1.60
227.85 146.71 Linde LIN 2.1 42 182.59 –5.82 .963 80.00 42.00 MolsonCoorsA TAP.A 3.6 dd 63.53 +2.58 .57 5.77 2.34 Nokia NOK 5.0 ... 3.45 –0.13 .0558 17.26 8.50 PQ Group PQG ... 19 10.84 –0.74 ...
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15.53 8.42 MonmouthRealEst MNR 5.9 dd 11.50 –1.59 .17 5.41 3.05 NomuraHoldings NMR 3.9 3.73 –0.37 .137
12.01 3.03 J Alexander's JAX ... 6 3.73 –0.80 ... 16.46 4.18 LionsGate A LGF.A ... dd 7.43 –0.56 ... 10.65 1.99 MontageRscs MR ... 3 4.61 –1.12 ... 33.70 8.92 Norbord OSB 3.9 dd 16.40 –1.55 .0356 112.06 28.40 PVH PVH .0 7 40.21 –5.81 .0375
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42.36 21.88 JBG SMITH Prop JBGS 3.3 45 27.17 –5.41 .225 15.51 3.87 LionsGate B LGF.B ... dd 6.98 –0.44 ... 287.25 164.19 Moody's MCO .9 31 251.31 –0.44 .56 9.00 1.66 NordicAmTankers NAT 4.8 dd 5.03 –0.09 .14 2.24 0.15 PacificCoastOil ROYT 46.6 1 .29 –0.02 .0038
27.00 6.06 JELD-WEN JELD ... 27 12.38 –0.60 ... 165.27 55.74 LithiaMotors LAD 1.2 9 103.87 –9.69 .30 96.50 32.49 Moog A MOG.A .0 7 40.83 –7.96 .25 43.37 12.27 Nordstrom JWN .0 5 16.37 –1.66 .37 15.35 0.35 PacificDrilling PACD ... dd .44 –0.04 ...
4.71 0.31 J.Jill JILL ... dd .47 +0.06 ... 6.03 1.92 LithiumAmericas LAC ... 7 3.40 +0.02 ... 95.95 33.58 Moog B MOG.B .0 8 45.00 –7.00 .25 219.88 112.62 NorfolkSouthern NSC 2.3 17 160.36 –14.39 .94 114.78 71.05 PackagingCpAm PKG 3.5 13 90.92 –7.22 .79
4.09 2.15 JMP JMP .0 dd 2.65 ... .04 76.60 21.70 LiveNationEnt LYV ... dd 40.06 –1.90 ... 57.57 27.20 MorganStanley MS 3.8 8 37.29 –2.79 .35 13.17 4.11 NorthAmConstr NOA 2.3 4 5.00 –0.55 .0285 59.82 12.33 PagerDuty PD ... dd 25.72 +1.15 ...
141.10 76.91 JPMorganChase JPM 4.2 10 85.90 –6.80 .90 10.01 9.61 LiveOakAcqnUn LOAK.UT ... ... 9.87 –0.02 ... 25.71 6.50 Mosaic MOS 2.0 dd 10.08 –1.83 .05 7.60 2.19 NoEuroOil NRT 14.6 6 3.90 –0.35 .11 53.43 13.58 PagSeguroDig PAGS ... 23 24.65 –3.98 ...
44.20 17.63 Jabil JBL 1.1 33 28.03 –0.44 .08 12.29 3.95 Livent LTHM ... 25 5.28 –1.46 ... 187.49 120.77 MotorolaSol MSI 2.0 25 129.07 –2.20 .64 385.01 263.31 NorthropGrum NOC 1.6 24 321.63 –6.02 1.32 251.11 125.47 PaloAltoNtwks PANW ... dd 222.83 +8.87 ...
104.00 59.29 JacobsEngg J 1.1 dd 72.11 –7.86 .19 56.84 23.44 LiveRamp RAMP ... dd 37.89 –0.06 ... 34.60 8.12 Movado MOV .0 5 9.96 +0.18 .20 77.26 50.50 NorthwestNat NWN 3.2 27 59.23 –5.93 .4775 36.41 8.72 PampaEnergia PAM ... 1 10.93 +0.18 ...
22.13 8.98 JamesHardie JHX .0 26 13.93 –0.15 .10 3.58 1.27 LloydsBanking LYG 4.2 8 1.33 –0.18 .0556 34.11 16.78 MuellerIndustries MLI 1.8 11 22.63 –3.38 .10 80.52 45.06 Northwestern NWE 4.4 15 54.25 –3.78 .60 15.29 3.02 PanhandleOil&Gas PHX 1.1 dd 3.77 –0.40 .01
27.50 11.81 JanusHenderson JHG 8.2 47 17.64 –1.64 .36 442.53 266.11 LockheedMartin LMT 2.7 16 360.40 –18.00 2.40 12.71 6.64 MuellerWater MWA 2.6 12 8.06 –0.87 .0525 59.78 7.03 NorwegCruise NCLH ... dd 10.92 –1.51 ... 25.69 5.72 ParPacific PARR ... dd 7.79 –1.98 ...
10.32 10.10 JawsAcquisition JWS.UT ... ... 10.25 +0.25 ... 56.88 27.33 Loews L .8 dd 29.81 –1.21 .0625 28.12 4.50 MurphyOil MUR 4.4 3 11.31 –0.42 .125 99.84 69.18 Novartis NVS 2.4 17 84.02 –0.91 3.0874 35.10 9.64 ParTechnology PAR ... dd 21.01 –0.10 ...
24.03 11.20 JefferiesFin JEF 4.8 4 12.49 –1.61 .15 12.90 3.01 LomaNegra LOMA ... 7 3.89 +0.36 ... 121.24 78.75 MurphyUSA MUSA ... 15 111.82 –2.28 ... 65.88 46.75 NovoNordisk NVO 1.4 26 63.91 +1.15 .4452 15.11 6.42 ParamountGroup PGRE 5.4 dd 7.39 –1.46 .10
21.98 8.83 JerniganCap JCAP 8.1 dd 11.33 –1.71 .23 34.35 12.97 LouisianaPacific LPX 2.9 cc 19.81 –2.09 .145 19.55 6.91 MyersIndustries MYE 4.5 13 12.08 –0.11 .135 52.86 12.31 NuSkinEnts NUS 4.4 13 33.93 –1.91 .375 19.29 9.14 ParkAerospace PKE 3.4 2 11.80 –1.59 .10
5.24 0.60 JianpuTech JT ... dd .67 –0.26 ... 126.73 60.00 Lowe's LOW 1.9 21 113.78 –0.45 .55 19.58 4.14 MyovantSciences MYOV ... dd 12.22 –0.44 ... 58.70 27.53 Nucor NUE 4.2 15 38.07 –4.13 .4025 30.71 3.99 ParkHotels PK .0 dd 7.31 –1.41 .45
28.84 11.42 JinkoSolar JKS ... 6 14.53 –1.29 ... 2.65 0.46 Luby's LUB ... dd .72 –0.11 ... 30.06 4.98 NuSTAREnergy NS 12.4 dd 12.93 +0.62 .40 215.94 93.00 ParkerHannifin PH 2.3 15 153.29 –7.71 .88
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127.97 56.17 JohnBeanTech JBT .6 15 66.38 –7.16 .10 13.46 3.77 LumberLiqu LL ... 21 7.00 –0.50 ... 55.34 23.85 Nutrien NTR 5.7 20 31.69 –3.82 .45 21.03 3.92 ParsleyEnergy PE 1.8 dd 8.75 –0.88 .05
157.00 109.16 J&J JNJ 2.7 23 150.44 +1.74 1.01 26.25 10.27 Luxfer LXFR 4.1 26 12.22 –1.62 .125 28.75 10.54 nVentElectric NVT 4.1 16 17.05 –1.91 .175 45.40 24.67 Parsons PSN ... 30 38.79 –0.03 ...
44.82 22.78 JohnsonControls JCI 3.7 cc 28.46 –1.34 .26 26.99 4.79 Lydall LDL ... dd 9.79 –0.93 ... 8.53 0.26 PartyCity PRTY ... dd .48 –0.10 ...
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28.28 2.15 JumiaTech JMIA ... ... 4.02 –0.55 ... 35.87 10.55 NCR NCR ... 5 16.33 –3.30 ... 27.86 2.51 PeabodyEnergy BTU .0 dd 2.94 –0.76 .145
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10.59 9.50 JuniperIndustrial JIH.UT ... ... 10.04 –0.06 ... 15.71 1.15 NGL Energy NGL 16.6 dd 4.81 –0.59 .20 11.51 Pearson PSO 4.6 12 5.22 –0.46
10.50 9.10 JuniperIndlA JIH ... ... 9.63 –0.01 ... 5.65 1.19 NIO NIO ... dd 3.37 –0.40 ... 24.95 8.63 OFGBancorp OFG 2.7 21 10.34 –1.86 .07 31.18 5.39 PebblebrookHotel PEB .0 11 10.17 –1.18 .01
27.57 15.20 JuniperNetworks JNPR 3.5 24 22.95 –0.73 .20 5.45 2.28 NL Industries NL ... 11 2.91 –0.25 ... 46.43 23.01 OGE Energy OGE 5.4 dd 28.53 –2.52 .3875 40.65 10.58 PembinaPipeline PBA 7.7 12 23.35 +0.50 .1493
3.37 0.88 JupaiHoldings JP ... dd 1.07 –0.05 ... 174.93 85.09 M&T Bank MTB 4.9 7 89.12 –15.75 1.10 15.33 4.05 NOW DNOW ... dd 6.06 –0.03 ... 17.86 4.31 O-I Glass OI .0 dd 6.32 –1.54 .05 1.26 0.14 PenneyJC JCP ... dd .24 +0.07 ...
4.42 0.35 JustEnergy JE ... dd .39 –0.05 ... 10.90 4.93 MBIA MBI ... dd 6.21 –1.31 ... 41.78 19.54 NRG Energy NRG 3.7 2 32.60 –0.17 .30 96.97 63.67 ONE Gas OGS 2.9 22 75.24 –5.67 .54 7.36 0.80 PA Reit PEI 83.2 dd 1.01 –0.09 .21
48.99 15.75 MDC Holdings MDC 4.9 7 26.92 –2.93 .33 4071.13 2043.01 NVR NVR ... 13 2795.06 –324.61 ... 78.48 12.16 ONEOK OKE 11.5 17 32.39 +1.06 .935 39.57 13.14 PennyMacFin PFSI 1.7 4 28.85 –1.38 .12
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32.22 15.00 MDU Rscs MDU 4.2 12 19.86 –2.02 .2075 188.75 9.79 NaborsIndustries NBR 11.8 dd 17.00 +2.88 .50 10.19 9.40 OaktreeAcqn OAC ... ... 9.93 –0.06 ... 23.79 3.50 PennyMacMtg PMT 11.2 dd 8.94 –1.14 .25
K 8.09 0.32 MFA Financial MFA .0 2 1.50 –0.13 .20 10.75 3.66 NamTaiProperty NTP ... dd 4.06 –0.72 ... 1.95 0.60 OaktreeAcqnWt OAC.WT ... ... 1.08 –0.17 ... 53.81 19.99 PenskeAuto PAG .0 6 30.61 –5.39 .42
15.24 4.34 MGIC Investment MTG 3.6 4 6.70 –0.43 .06 37.97 20.25 NatlBankHoldings NBHC 3.5 9 23.10 –2.25 .20 54.05 9.00 OccidentalPetrol OXY 3.2 dd 13.82 –1.20 .79 47.43 22.01 Pentair PNR 2.3 15 33.49 –1.61 .19
28.61 9.41 KAR Auction KAR 6.4 14 11.83 –1.33 .19 34.37 11.43 MGMGrowthProp MGP 8.2 70 22.88 –1.78 .475 57.57 31.58 NationalFuelGas NFG 4.4 38 39.96 –2.24 .435 21.29 2.01 OceaneeringIntl OII ... dd 4.71 –0.01 ... 194.93 121.80 Penumbra PEN ... cc 171.14 –7.93 ...
42.90 20.93 KB Fin KB 5.7 4 25.51 –1.41 1.6631 34.64 5.90 MGM Resorts MGM .1 2 13.85 –1.74 .0025 69.08 44.29 NationalGrid NGG 5.5 20 55.74 –1.83 1.0673 2.23 0.28 OcwenFinancial OCN ... dd .60 –0.08 ... 54.49 7.41 PerformanceFood PFGC ... 22 21.29 –2.91 ...
40.51 9.82 KB Home KBH 1.5 8 24.71 –3.83 .09 48.02 9.62 MI Homes MHO ... 5 25.76 –2.01 ... 91.12 31.37 NatlHealthInv NHI 9.4 11 46.74 –5.96 1.1025 2.18 0.35 Oi OIBR.C ... dd .48 –0.06 ... 102.46 62.91 PerkinElmer PKI .3 46 92.86 +0.38 .07
31.92 12.00 KBR KBR 2.1 47 18.87 –1.56 .10 5.67 0.88 MOGU MOGU ... dd 1.05 –0.03 ... 25.81 8.00 NatlOilwell NOV 1.7 dd 11.52 –1.67 .05 38.80 27.51 OilDriAmerica ODC 2.9 15 33.91 –2.82 .25 6.32 2.38 PermianBasin PBT 14.0 7 3.27 +0.22 .023
34.14 15.55 KKR KKR 2.2 dd 24.73 –1.93 .135 32.65 6.87 MPLX MPLX 15.0 dd 18.15 +0.43 .6875 102.30 66.60 NatlPrestoInds NPK 1.3 13 79.61 –2.62 5.00 19.71 1.52 OilStatesIntl OIS ... dd 2.88 –0.41 ... 3.28 0.67 PermianvilleRT PVL 22.0 4 1.35 +0.06 .029
22.03 6.84 KKR RealEstFin KREF 12.5 26 13.81 –2.39 .43 17.67 3.31 MRC Global MRC ... 71 4.57 –0.29 ... 59.26 24.04 NatlRetailProp NNN 7.3 19 28.11 –4.91 .515 24.10 11.88 OldRepublic ORI 5.9 cc 14.14 –1.61 .21 9.35 1.00 PermRock PRT 31.6 3 1.90 –0.05 .015
12.59 6.66 KT KT ... 9 9.87 +0.16 ... 142.34 83.57 MSA Safety MSA 1.5 29 114.84 –7.57 .43 38.22 19.34 NatlStorage NSA 5.4 dd 24.49 –5.15 .33 22.91 8.76 Olin OLN 7.2 dd 11.10 –1.12 .20 63.86 40.01 Perrigo PRGO 1.7 38 52.76 +0.12 .225
32.98 15.06 K12 LRN ... 42 23.73 +0.76 ... 356.66 206.82 MSCI MSCI .8 55 341.22 +7.64 .68 23.90 7.93 Natura&Co NTCO ... cc 10.94 –1.50 ... 45.22 13.33 OmegaHealthcare OHI 10.2 17 26.31 –1.27 .67 29.88 14.03 Perspecta PRSP 1.1 38 21.99 –0.24 .06
114.05 52.71 Kadant KAI 1.1 19 87.62 +0.93 .24 79.87 44.93 MSC Industrial MSM 5.0 13 60.32 –0.25 .75 16.73 2.62 NaturalGasSvcs NGS ... dd 5.72 –0.35 ... 85.05 46.37 Omnicom OMC 5.1 8 50.90 –4.21 .65 58.94 27.74 PetroChina PTR 5.1 9 32.84 –2.18 .4059
5.50 1.63 Kadmon KDMN ... dd 4.28 –0.10 ... 22.55 8.52 MSG Networks MSGN ... 5 11.99 +0.23 ... 16.39 5.41 NaturalGrocers NGVC 1.9 22 14.53 –0.98 .07 4.75 0.54 OnDeckCapital ONDK ... dd .64 –0.27 ... 16.95 4.01 PetroleoBrasil PBR 3.1 4 6.10 –0.76 .0931
1.59 0.17 KaleyraWt KLR.WT ... ... .90 +0.30 ... 10.45 3.00 MVC Capital MVC 10.8 5 6.31 –0.38 .17 41.83 8.50 NaturalResPtrs NRP .0 dd 12.60 –0.03 .45 31.78 9.71 OneLiberty OLP 13.0 13 13.80 –2.55 .45 15.67 4.16 PetroleoBrasilA PBR.A 6.3 4 5.91 –0.60 .098
68.24 29.38 Kaman KAMN 2.5 13 32.54 –6.53 .20 8.63 1.76 MV Oil MVO 27.7 4 3.30 +0.01 .205 3.94 0.37 Natuzzi NTZ ... 0 .67 –0.03 ... 16.60 9.02 OneConnectFinTech OCFT ... dd 15.09 +1.77 ... 44.56 27.88 Pfizer PFE 4.0 14 37.76 +0.54 .38
178.59 92.86 KSCitySouthern KSU 1.2 22 133.85 –2.78 .40 42.05 4.81 Macerich MAC 31.4 7 6.36 –0.48 .50 6.85 1.20 Nautilus NLS ... dd 6.18 +0.74 ... 48.92 12.21 OneMain OMF 6.5 4 20.21 –2.25 .33 90.17 56.01 PhilipMorris PM 6.9 14 67.78 –4.22 1.17
71.05 51.34 Kellogg K 3.6 21 64.07 +0.39 .57 24.88 12.90 Mack-Cali CLI 5.8 dd 13.71 –2.08 .20 13.99 3.80 NavigatorHldgs NVGS ... dd 5.47 –0.69 ... 8.69 3.75 OneSmartIntl ONE ... 36 4.42 –0.54 ... 119.92 40.04 Phillips66 PSX 5.1 cc 70.93 –6.13 .90
27.61 15.87 Kemet KEM .7 39 27.04 ... .05 45.93 12.50 MacquarieInfr MIC .0 24 27.43 –1.83 1.00 11.52 2.09 NaviosMaritime NNA 24.1 dd 4.98 –0.39 .30 42.50 20.32 OntoInnovation ONTO ... dd 30.79 –2.49 ... 65.22 19.00 Phillips66Ptrs PSXP 8.1 10 42.63 –1.49 .875
91.40 53.81 Kemper KMPR 2.1 9 58.11 –7.02 .30 23.40 4.38 Macy's M .0 3 5.31 –0.06 .3775 8.10 1.30 NaviosMaritime NM ... dd 1.88 –0.17 ... 15.84 7.45 Ooma OOMA ... dd 11.30 –0.40 ... 4.07 1.15 PhoenixNewMedia FENG .0 1 1.32 –0.10 1.3712
38.73 14.45 Kennametal KMT 3.6 29 22.47 –2.10 .20 100.00 58.67 MSG Entertainment MSGE ... ... 78.49 –1.31 ... 21.30 4.08 NaviosMaritime NMM 19.5 dd 6.16 –1.16 .30 31.82 14.21 Oppenheimer A OPY 2.5 5 19.50 –0.39 .12 13.90 5.42 PhoenixTree DNK ... dd 8.00 +1.50 ...
23.50 10.98 KennedyWilson KW 6.9 8 12.80 –1.80 .22 225.62 130.12 MSG Sports MSGS ... dd 155.88 –16.77 ... 38.00 15.01 NavistarIntl NAV ... 13 23.41 –1.23 ... 60.50 39.71 Oracle ORCL 1.8 17 52.92 –0.65 .24 34.85 16.01 Phreesia PHR ... dd 26.19 –1.34 ...
23.05 10.56 KenonHoldings KEN 15.3 dd 20.09 –0.58 1.21 67.75 22.02 MagellanMid MMP 9.8 9 41.84 –1.11 1.0275 77.55 33.44 Neenah NP 4.2 13 44.79 –4.42 .47 16.64 9.93 Orange ORAN 5.6 12 10.91 –0.64 .4505 20.78 11.01 PhysiciansRealty DOC 6.0 38 15.23 –0.70 .23
32.00 18.98 KeurigDrPepper KDP 2.3 32 26.30 –0.04 .15 57.09 22.75 MagnaIntl MGA 4.4 12 36.72 –2.97 .40 69.97 36.70 Nelnet NNI 1.8 30 44.41 –0.70 .20 6.94 1.53 OrchidIslandCap ORC 16.9 dd 3.91 +0.01 .055 24.78 12.86 PiedmontOfficeA PDM 6.2 9 13.60 –3.42 .21
M16 BARRON’S May 18, 2020

New York Stock Exchange Composite List


52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
29.80 12.02 PingIdentity PING ... dd 23.95 –1.57 ... 82.74 49.55 RoyalBkCanada RY ... 9 58.74 –2.59 ... 23.38 15.32 St.Joe JOE ... 45 17.64 –0.51 ... 84.26 52.07 Toro TTC 1.6 24 63.16 –1.18 .25 3.86 0.48 VertivWt VRT.WT ... ... 3.17 +0.07 ...
105.51 60.05 PinnacleWest PNW 4.4 15 71.42 –2.45 .7825 7.05 2.45 RoyalBkScotland RBS .0 4 2.57 –0.33 .1296 55.85 33.94 StandardMotor SMP .0 16 36.92 –3.07 .25 59.55 33.74 TorontoDomBk TD 5.8 8 38.95 –2.01 .5554 72.27 11.25 Viad VVI 2.7 15 14.65 –6.42 .10
36.83 10.10 Pinterest PINS ... dd 18.24 –1.55 ... 135.32 19.25 RoyalCaribbean RCL .0 44 37.45 –2.47 .78 81.69 37.50 StandexInt SXI 2.0 18 45.00 –3.55 .22 10.08 9.50 TortoiseAcqn SHLL ... cc 9.95 +0.01 ... 27.63 3.16 VinceHolding VNCE ... 27 5.50 +0.19 ...
159.01 48.62 PioneerNatRscs PXD 2.7 20 82.86 –7.13 .55 66.48 21.26 RoyalDutchA RDS.A 3.6 8 30.13 –3.78 .32 173.67 70.00 StanleyBlackDck SWK 2.6 18 107.84 –9.49 .69 10.38 9.50 TortoiseAcqn SHLL.UT ... ... 10.02 +0.04 ... 18.95 6.17 Vipshop VIPS ... 20 16.85 –0.33 ...
87.45 31.95 PiperSandler PIPR 1.5 17 52.18 +0.26 .20 67.45 19.19 RoyalDutchB RDS.B 4.5 7 28.60 –3.43 .32 112.04 50.68 StanleyB&D Un SWT 7.3 ... 72.96 –6.43 1.3125 0.75 0.15 TortoiseAcqnWt SHLL.WT ... ... .25 +0.02 ... 42.49 6.90 VirginGalactic SPCE ... dd 15.62 –4.56 ...
5.50 1.67 PitneyBowes PBI 9.5 dd 2.11 –0.43 .05 13.11 4.09 RubiconProject RUBI ... dd 5.12 –1.22 ... 31.94 20.22 Stantec STN 1.5 22 28.53 –1.62 .1095 56.91 22.13 Total TOT ... 8 33.03 –3.39 ... 214.17 133.93 Visa V .7 34 183.49 –1.60 .30
10.35 9.38 PivotalInvtII PIC.UT ... ... 10.05 –0.15 ... 60.55 22.62 RyderSystem R 7.5 dd 29.90 –5.59 .56 10.25 6.11 StarGroup SGU 7.1 14 7.43 –0.19 .1325 10.34 3.54 TownsquareMedia TSQ 6.9 dd 4.34 –0.10 .075 23.25 11.23 Vishay VSH 2.7 18 14.19 –2.78 .095
10.08 9.50 PivotalInvII PIC ... ... 9.95 ... ... 12.54 3.76 RyersonHolding RYI ... 2 4.00 –0.70 ... 7.99 3.01 Starrett A SCX ... 5 3.02 –0.35 ... 145.41 108.01 ToyotaMotor TM 3.1 7 116.89 –6.21 1.8299 41.90 16.56 VishayPrecision VPG ... 16 20.14 –2.82 ...
25.26 3.00 PlainsAllAmPipe PAA 8.5 dd 8.45 +0.07 .18 91.57 13.25 RymanHospitality RHP .0 18 24.96 –6.45 .95 8.93 2.75 Startek SRT ... dd 3.20 –0.50 ... 118.10 70.00 TraneTech TT 2.7 16 77.21 –7.18 .53 11.03 1.80 VistaOil&Gas VIST ... dd 3.30 –0.09 ...
25.69 3.04 PlainsGP PAGP 8.2 dd 8.78 –0.03 .18 26.33 7.59 StarwoodProp STWD 16.5 9 11.63 –2.38 .48 8.50 3.63 Transalta TAC 2.3 14 5.31 –0.51 .0301 10.80 4.29 VistaOutdoor VSTO ... dd 7.68 +0.64 ...
88.77
47.46
23.77
4.60
PlanetFitness
Plantronics
PLNT
PLT
...
.0
44
dd
52.32
11.40
–7.90
–3.06
...
.15 S 85.89
14.09
42.10
4.31
StateStreet
SteelPartners
STT
SPLP
3.8
... dd
9 54.41
4.51
–5.81
–0.49
.52
...
41.50
673.51
16.00
200.06
TrancntlRlty
TransDigm
TCI
TDG
...
.0
dd
22
17.90
325.00
–2.33
–27.61
...
32.50
27.96
2.56
11.30
0.61
VistraEnergy
VistraEnergyWt
VST
VST.WTA
2.9
...
12
...
18.57
.61
–0.33
–0.23
.135
...
21.59 0.70 PlayAGS AGS ... dd 3.43 –0.65 ... 23.02 7.02 Steelcase SCS 2.9 6 9.72 –1.42 .07 7.83 0.76 Transocean RIG ... dd 1.40 +0.01 ... 32.00 8.51 VivintSmartHome VVNT ... dd 11.98 +0.40 ...
21.50 7.79 PlymouthIndREIT PLYM 12.7 dd 11.83 –2.16 .375 140.67 90.90 SAP SAP 1.1 36 113.21 –3.54 1.7119 105.87 69.33 Stepan SCL 1.2 20 89.47 –5.01 .275 16.07 3.72 TransportadGas TGS ... 2 5.18 +0.48 ... 3.34 0.37 VivintSmartHmWt VVNT.WT ... ... 1.32 +0.12 ...
104.37 37.35 Polaris PII 3.4 17 73.95 +1.02 .62 312.94 186.06 S&P Global SPGI .9 32 303.14 +5.49 .67 168.98 105.69 Steris STE 1.0 33 151.32 +3.07 .37 101.16 52.50 TransUnion TRU .4 42 75.62 –3.49 .075 12.99 3.17 VivintSolar VSLR ... dd 6.10 –0.48 ...
10.25 9.50 SC Health SCPE ... cc 9.95 ... ...

.
37.33 8.69 PolyOne POL 3.8 13 21.24 –1.62 .2025 22.17 7.01 SterlingBancorp STL 2.9 6 9.82 –1.98 .07 155.09 76.99 Travelers TRV 3.8 10 90.31 –7.03 .85 206.38 86.00 VMware VMW ... 9 134.48 –5.83 ...
63.08 37.83 PortlandGenElec POR 3.8 16 40.77 –4.54 .385 1.35 0.81 SC Health Wt SCPE.WT ... ... .98 ... ... 44.14 20.26 StewartInfo STC 4.2 8 28.86 –0.27 .30 10.54 4.23 TrecoraResources TREC ... dd 5.52 ... ... 34.57 15.89 VoceraComm VCRA ... dd 18.21 –0.37 ...
dd 10.48 9.25 SCVX SCVX.UT ... ... 10.13 +0.08 ... 69.10 31.13 StifelFinancial SF 1.6 8 42.04 –3.04 .17 68.85 27.64 VornadoRealty VNO 7.5 2 35.32 –4.09 .66

ly
112.89 68.97 PostHoldings POST ... 84.88 –4.76 ... 23.48 11.31 Tredegar TG 3.5 75 13.83 –2.25 .12
19.48 10.84 PostalRealty PSTL 3.6 dd 16.10 –0.20 .20 10.00 9.20 SCVX SCVX ... ... 9.74 –0.14 ... 31.98 14.67 STMicroelec STM .9 21 23.64 –1.81 .06 60.38 33.50 TreeHouseFoods THS ... dd 52.00 –1.49 ... 2.37 0.58 voxeljet VJET ... dd .90 ... ...
2.18 0.27 PrecisionDrilling PDS ... dd .52 –0.04 ... 0.75 0.33 SCVX Wt SCVX.WT ... ... .75 ... ... 2.77 0.46 StoneMor STON ... dd .64 +0.07 ... 118.72 56.22 Trex TREX ... 43 114.95 –0.14 ... 63.81 29.75 VoyaFinancial VOYA 1.5 8 40.77 –4.12 .15
16.93 5.27 PrefApartment APTS 10.4 dd 6.71 –0.99 .175 51.42 22.23 Seacor CKH ... 23 24.19 –2.90 ... 34.46 13.87 Stoneridge SRI ... 9 16.92 –2.41 ... 10.79 9.38 TrineAcqnUn TRNE.UT ... cc 10.24 –0.11 ... 152.49 65.56 VulcanMatls VMC 1.4 21 96.07 –5.04 .34
46.12 27.40 PrestigeCnsHlth PBH ... 14 40.02 –0.22 ... 15.17 1.78 SeacorMarine SMHI ... dd 1.87 –0.54 ... 226.30 124.54 Stryker SYK 1.3 32 180.27 –11.81 .575 10.15 9.40 TrineAcqn TRNE ... cc 9.94 –0.01 ...
15.27
13.83
138.05
4.05
61.20
PretiumResources
Primerica
PVG
PRI
...
1.6
39
12
8.99
101.21
+0.45
–7.51
...
.40
15.10
45.39
6.33
21.25
SFL
SINOPEC
SFL
SHI
14.7
12.6
...
9
9.55
25.57
–1.08
–0.85
.35
3.718
21.22
60.06 38.44
StudioCity
SturmRuger
MSC
RGR
...
1.3
28
30
15.50
58.25
–1.00
–1.77
...
.35
1.13
76.92
0.35
27.79
TrineAcqnWt
TriNet
TRNE.WT
TNET
...
...
...
13
.60
44.80
–0.05
–6.80
...
... W

on
16.00 6.33 PrimoWater PRMW 2.4 dd 10.08 –1.23 .06 15.85 3.60 SITE Centers SITC .0 14 4.65 –1.01 .20 24.89 8.64 SuburbanPropane SPH 18.0 23 13.33 –0.65 .60 24.64 14.53 TrinityIndustries TRN 4.2 8 18.19 –0.81 .19
42.03 12.67 ProAssurance PRA 1.5 dd 13.34 –2.61 .05 74.99 45.60 SJW Group SJW 2.4 77 53.45 –5.29 .32 7.56 4.49 SumitomoMits SMFG 5.6 5 5.09 –0.09 .1655 50.14 14.16 Trinseo TSE 9.2 40 17.40 –3.10 .40 136.45 117.20 WABCO WBC ... 37 136.45 +2.50 ...
128.09 94.34 Procter&Gamble PG 2.8 65 114.61 –1.34 .7907 24.97 14.07 SK Telecom SKM 3.9 16 18.41 –0.41 .8103 12.59 2.32 SummitHotelProp INN .0 12 4.67 –1.27 .18 27.64 9.13 Triple-S Mgmt GTS .0 13 16.42 +1.08 .00 6.10 1.07 W&T Offshore WTI ... 5 2.64 –0.15 ...
84.96 62.18 Progressive PGR .5 13 76.21 +1.94 .10 96.39 35.16 SLGreenRealty SLG 9.3 10 37.97 –10.54 .295 25.22 7.51 SummitMaterials SUM ... 16 11.88 –1.97 ... 17.17 2.80 TriplePtVent TPVG 17.5 12 8.25 +0.15 .36 109.53 68.01 WEC Energy WEC 3.0 23 84.80 –0.88 .6325
99.79 59.82 Prologis PLD 2.8 32 83.28 –6.69 .58 15.75 0.90 SM Energy SM .7 dd 3.03 –0.57 .01 8.27 0.50 SummitMidstream SMLP .0 dd .74 –0.11 .125 40.81 19.80 TritonIntl TRTN 7.4 7 28.08 –2.45 .52 236.52 71.12 WEX WEX ... 80 120.50 –13.11 ...
24.10 1.36 ProPetro PUMP ... 3 4.26 –0.46 ... 53.76 25.50 SPX SPXC ... 16 34.59 –3.98 ... 173.98 95.34 SunComms SUI 2.5 cc 125.09 –9.08 .79 29.38 3.02 TriumphGroup TGI 3.4 dd 4.73 –1.27 .04 75.86 34.26 WNS WNS ... 18 40.14 –8.05 ...
21.00 7.26 ProSightGlobal PROS ... 13 9.40 –0.43 ... 49.94 15.74 SPX FLOW FLOW ... dd 27.99 –4.19 ... 50.13 24.37 SunLifeFinancial SLF 4.9 11 32.19 –2.61 .3915 13.12 3.97 Tronox TROX 4.9 dd 5.74 –1.33 .07 93.62 38.62 W.P.Carey WPC 7.6 31 54.63 –7.96 1.04
75.22 42.02 ProsperityBcshs PB 3.3 12 55.90 –4.14 .46 33.48 17.54 STAG Indl STAG 6.2 32 23.16 –2.65 .12 9.17 2.33 SunCokeEnergy SXC 9.3 dd 2.58 –0.99 .06 24.98 12.02 TrueBlue TBI ... dd 13.98 –0.61 ... 70.80 27.18 WPP WPP 8.2 12 33.91 –4.12 1.3892

us ,
119.80 63.19 ProtoLabs PRLB ... 46 106.41 +2.61 ... 40.96 13.00 StoreCapital STOR 8.2 13 17.15 –2.83 .35 34.56 9.61 SuncorEnergy SU 3.7 dd 16.15 –0.95 .1495 56.92 24.01 TruistFinl TFC 5.7 9 31.35 –4.89 .45 14.43 1.94 WPX Energy WPX ... dd 5.36 –0.67 ...
25.86 9.05 ProvidentFinSvcs PFS 8.0 8 11.55 –1.88 .23 49.76 23.02 SabineRoyalty SBR 11.0 9 26.06 –0.30 .1517 3.01 0.68 SunlandsTech STG ... dd 1.76 –0.65 ... 4.77 1.70 TsakosEnergy TNP 8.2 dd 2.45 –0.41 .05 16.70 6.26 WabashNational WNC 4.2 dd 7.67 –0.75 .08

l
103.56 38.62 PrudentialFin PRU 8.3 7 52.93 –6.05 1.10 2.38 0.74 SafeBulkers SB ... 20 .86 –0.12 ... 20.87 6.12 SunnovaEnergy NOVA ... dd 14.12 +0.18 ... 31.04 5.79 TufinSoftware TUFN ... dd 8.91 –1.28 ... 81.75 35.07 Wabtec WAB .9 23 52.36 –4.96 .12
41 12.91 4.43 SafeguardSci SFE .0 7 5.98 –0.75 1.00 34.09 10.46 Sunoco SUN 14.0 dd 23.67 –0.17 .8255 18.33 9.87 Waddell&ReedFin WDR 7.8 9 12.85 –1.20 .25

e
44.84 15.68 Prudential PUK 3.6 25.60 –2.73 .5194 23.07 1.15 Tupperware TUP .0 dd 2.57 –0.33 .27

al a
63.88 34.75 PublicServiceEnt PEG 4.3 16 45.46 –3.31 .49 66.70 26.24 Safehold SAFE 1.3 51 48.35 –3.12 .156 14.49 5.75 SunstoneHotelInv SHO .0 dd 7.39 –1.08 .05 6.31 4.36 TurkcellIletism TKC 5.5 9 4.64 –0.08 .0395 79.74 24.55 Walker&Dunlop WD 4.0 6 36.02 –3.99 .36
266.76 155.37 PublicStorage PSA 4.5 24 175.97 –14.37 2.00 27.05 11.61 SailPointTechs SAIL ... dd 20.66 –0.31 ... 26.70 0.70 SuperiorEnergy SPN ... dd 1.24 –0.22 ... 57.06 14.09 TurningPoint TPB .9 42 21.52 –2.35 .05 133.38 99.91 Walmart WMT 1.7 24 125.94 +3.00 .54
47.37 17.12 PulteGroup PHM 1.7 7 27.72 –2.16 .12 195.72 115.29 Salesforce.com CRM ... cc 171.33 –4.57 ... 4.83 0.90 SuperiorIndsIntl SUP .0 dd 1.19 –0.24 .09 dd 28.39 9.46 WarriorMetCoal HCC 1.5 3 13.13 –1.47 .05
1.33 0.30 TurquoiseHill TRQ ... .54 +0.03 ...
20.97 7.93 PureStorage PSTG ... dd 14.29 –1.22 ... 21.98 6.28 SallyBeauty SBH ... 6 9.85 –0.64 ... 9.95 9.85 SustOppsAcqnUn SOAC.UT ... ... 9.87 –0.08 ... dd 5.02 0.56 WashingtonPrime WPG .0 dd .63 –0.09 .125
19.48 2.61 TutorPerini TPC ... 7.18 –1.31 ...
4.25 1.39 SanJuanBasin SJT 5.3 18 2.58 +0.03 .0322 10.84 4.43 Suzano SUZ ... dd 7.58 –0.74 ... 32.22 18.01 WashingtonREIT WRE 6.4 31 18.85 –3.28 .30

ci on
11.58 3.62 Puxin NEW ... dd 6.23 –1.37 ... 197.15 68.06 Twilio TWLO ... dd 189.22 +9.53 ...
19.83 1.43 PyxusIntl PYX ... dd 2.76 –0.16 ... 9.05 0.70 SandRidgeEnergy SD ... dd 1.49 –0.39 ... 19.00 10.30 Switch SWCH .7 cc 17.94 +0.49 .0294 32.30 7.22 TwinRiver TRWH .0 22 15.45 –0.80 .10
105.17 70.87 WasteConnections WCN .8 41 90.30 –2.37 .185
10.15 3.46 PzenaInvtMgmt PZN 2.8 15 4.32 –0.92 .03 2.12 0.25 SandRidgePermian PER 69.7 1 .45 –0.01 .08 11.28 9.60 SwitchbackEner SBE.UT ... ... 10.25 +0.25 ... 18 126.79 85.34 WasteMgt WM 2.3 24 95.93 –5.04 .545
45.86 20.00 Twitter TWTR ... 29.00 –0.93 ... 22
8.17 0.26 QEP Resources QEP 11.0 0 .73 –0.11 .02 8.69 3.32 SandstormGold SAND ... cc 8.55 +0.56 ... 10.12 9.38 SwitchbackEnerA SBE ... ... 9.85 ... ... dd 245.68 154.39 Waters WAT ... 178.46 –8.52 ...
15.85 2.25 TwoHarbors TWO 29.1 4.29 –0.26 .05
68.80 42.64 QTS Realty QTS 3.0 dd 63.32 –1.90 .47 27.75 9.74 SantanderCons SC 6.1 7 14.40 –1.39 .22 0.96 0.30 SwitchbackEnerWt SBE.WT ... ... .85 –0.05 ... 354.93 205.90 TylerTech TYL ... 86 354.75 +24.52 ...
186.87 132.97 Watsco WSO 4.5 25 158.13 –4.39 1.775
28.70 5.94 SaratogaInvt SAR .0 2 13.74 +0.49 .56 38.18 12.15 SynchronyFin SYF 5.3 4 16.54 –2.08 .22 181.50 139.00 Watsco B WSO.B 4.6 25 154.35 –7.90 1.775
93.90 47.17 Q2Holdings QTWO ... dd 80.08 –2.72 ... 94.24 42.57 TysonFoods TSN 2.9 11 58.21 –2.18 .42 114.45 69.02 WattsWater WTS 1.2 19 73.87 –6.97 .23
43.39 25.04 Qiagen QGEN ... dd 42.06 –0.77 ... 30.34 1.25 Sasol SSL ... dd 4.22 –0.46 ... 153.07 52.06 Synnex SNX .0 9 91.45 +0.11 .40
58.49 23.58 SaulCenters BFS 7.8 17 27.06 –4.31 .53 40.32 10.91 SynovusFin SNV 8.2 5 16.02 –3.71 .33 197.06 21.70 Wayfair W ... dd 173.10 –14.95 ...
12.12
209.05
2.00
108.14
QuadGraphics
QuakerChemical
QUAD
KWR
.0
1.0
dd
dd
2.65
159.15
–0.72
+5.89
.15
.385 41.40 11.87 Schlumberger SLB 3.1 dd 15.95 –2.10 .125 85.98
26.57
26.00
14.00
Sysco
Systemax
SYY
SYX
3.8
3.1
18
15
47.62
18.18
–5.67
–1.84
.45
.14
U 54.04
9.86
18.16
1.03
WebsterFin
Weidai
WBS
WEI
7.3
...
6
1
22.03
1.41
–3.85
+0.06
.40
...
20.42 7.90 QuanexBldg NX 3.1 dd 10.21 –1.90 .08 24.38 15.36 SchneiderNatl SNDR 1.2 24 21.03 –0.60 .065

er s
44.09 23.77 QuantaServices PWR .6 14 31.34 –3.02 .05 51.65 28.00 SchwabC SCHW 2.2 13 32.56 –3.95 .18 13.49 7.48 UBS Group UBS ... 7 9.26 –0.69 ... 32.17 12.21 WeingartenRealty WRI 4.6 6 15.63 –2.05 .18
9.21 1.21 Qudian QD ... 1 1.65 –0.10 ... 46.65
96.80
20.00
45.45
SchweitzerMaud
ScienceApplicat
SWM
SAIC
6.5
1.8 22
9 27.12
83.01
–3.29
–1.36
.44
.37
T 51.25
54.48
29.20
21.75
UDR
UGI
UDR
UGI
4.1
4.6
62
16
34.76
28.39
–3.58
–2.50
.36
.33
59.39
19.81
32.44
3.17
WeisMarkets
Welbilt
WMK
WBT
2.3
...
18
15
55.01
4.70
–0.83
–0.65
.31
...
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

125.00 73.02 QuestDiag DGX 2.0 19 111.08 –1.14 .56


4.04 0.59 QuintanaEnergy QES ... dd .68 –0.11 ... 72.05 13.75 ScorpioBulkers SALT 1.4 dd 14.60 –5.46 .05 16.64 8.63 UMH Prop UMH 6.6 dd 10.99 –1.86 .18 54.75 22.00 WellsFargo WFC 8.7 8 23.36 –2.07 .51
59.76 30.78 TAL Education TAL ... cc 54.00 –0.80 ... 40 .61
11.99 4.55 QuotientTech QUOT ... dd 5.68 –0.41 ... 40.45
142.90
12.35
76.50
m er
ScorpioTankers
ScottsMiracleGro
STNG
SMG
2.4
1.7
dd
24
16.79
139.56
–2.64
–0.26
.10
.58 57.92
44.65
32.37
18.00
TC Energy
TC PipeLines
TRP
TCP
5.2
7.9
13
9
44.51
32.82
–1.56
–0.61
.5778
.65
65.76
19.00
39.33
3.52
Unitil
USA Compression
UTL
USAC
3.3
22.3
20
dd
44.92
9.41
–5.05
+0.47
.375
.525
93.17
61.32
214.98
24.27
13.52
113.04
Welltower
WescoIntl
WestPharmSvcs
WELL
WCC
WST
6.0
...
.3
5
62
40.65
25.68
214.17
–3.90
–2.04
+14.16
...
.16
R
15.56 6.04 ScullyRoyalty SRL ... dd 7.01 –1.13 ... 51.20 23.91 US Cellular USM ... 17 28.32 –2.61 ...
28.85 8.86 SculptorCapMgmt SCU 14.3 dd 10.34 –0.81 .53 101.00 48.62 TE Connectivity TEL 2.7 34 70.04 –6.71 .48 58.94 20.90 WestAllianceBcp WAL 3.4 6 29.27 –5.12 .25
18.31 9.61 Tegna TGNA 2.8 7 10.13 –0.69 .07 11.95 1.00 USD Partners USDP 43.7 dd 2.78 –0.10 .111
64.39 24.59 Sea SE ... dd 61.96 –0.53 ... 43.10 8.32 US Foods USFD ... 21 17.15 –2.47 ... 11.33 1.37 WesternAssetMort WMC .0 dd 2.10 –0.19 .31
27.26 16.81 RELX RELX 2.7 22 21.92 –1.22 .164 16.55 5.25 SeabridgeGold SA ... dd 15.65 +1.15 ... 20.91 13.54 Telus TU 5.2 15 15.96 –0.44 .2058 31.99 2.90 WesternMidstrm WES 29.7 10 7.32 +0.16 .311
26.38 9.59 Ternium TX ... 5 13.05 –1.33 ... 148.48 45.13 US PhysTherapy USPH 1.9 28 67.75 –3.41 .32
40.78 14.40 RE/MAX RMAX 3.9 17 22.47 –3.86 .22 7.50 0.38 SeaDrill SDRL ... dd .45 –0.08 ... 14.83 0.79 US Silica SLCA .0 dd 1.85 –0.36 .02 28.45 17.39 WesternUnion WU 4.8 7 18.57 –1.36 .225
dd 13 36.65 15.24 TFI Intl TFII 2.8 9 26.37 –0.69 .1993 75.65 28.99 WestlakeChem WLK 2.7 10 38.53 –4.99 .2625
14.99 3.50 REV REVG .0 4.82 –0.44 .05 45.86 17.06 SealedAir SEE 2.2 28.76 –0.88 .16
m rp
20.32 10.29 TIM Part TSU 3.6 6 10.48 –1.05 .1259 6.52 2.65 US Xpress USX ... dd 3.67 –0.46 ...
256.27 73.14 RH RH ... 17 154.63 –5.32 ... 36.96 6.75 SeaWorldEnt SEAS ... 16 13.80 –1.20 ... 47.08 13.71 Uber UBER ... dd 32.47 –0.32 ... 26.48 10.31 WestlakeChemPtrs WLKP 10.7 10 17.59 –1.66 .4714
64.95 32.72 TJX TJX .0 18 47.17 –1.34 .23 20.56 7.98 WestpacBanking WBK 12.1 7 9.84 –0.37 .551
99.93 66.02 RLI RLI 1.4 49 68.99 –5.04 .24 12.75 2.22 SelectEnergySvcs WTTR ... dd 4.19 –1.07 ... dd 199.91 107.22 Ubiquiti UI .7 32 172.97 –15.65 .30
32 12 21.30 2.45 TPG RE Fin TRTX 28.1 6.13 –1.33 .43 44.39 21.50 WestRock WRK 3.3 7 24.21 –2.79 .20
18.88 3.88 RLJ Lodging RLJ .5 8.46 –0.63 .01 28.61 10.00 SelectMedical SEM ... 14.24 –1.18 ... 18.63 5.89 TRI Pointe TPH ... 7 11.24 –0.81 ... 6.68 1.97 UltraparPart UGP 3.8 26 2.42 –0.06 .0546
10.68 9.60 RMG Acqn RMG.UT ... cc 10.10 –0.58 ... 161.87 88.00 SempraEnergy SRE 3.5 15 119.20 –5.03 1.045 27.72 7.15 UnderArmour A UAA ... dd 7.71 –2.27 ... 35.74 10.50 Westwood WHG .0 23 17.83 –2.77 .43
7.48 0.89 TailoredBrands TLRD .0 70 .89 –0.20 .18 31.58 13.10 Weyerhaeuser WY .0 36 17.33 –2.52 .34
10.50 9.03 RMGAcqn RMG ... cc 9.95 –0.06 ... 54.72 18.25 SensataTechs ST ... 26 33.28 –3.43 ... 60.64 37.18 TaiwanSemi TSM 2.5 23 49.80 –3.11 .3304 24.55 6.37 UnderArmour C UA ... dd 6.91 –2.03 ...
0.98 0.40 RMG Acqn Wt RMG.WT ... ... .45 +0.03 ... 75.21 38.24 SensientTech SXT 3.5 27 43.98 –3.85 .39 27.85 7.48 Unifi UFI ... dd 12.12 +0.26 ... 45.70 18.66 WheatonPrecMet WPM .9 cc 45.64 +2.26 .10
20.93 12.43 TakedaPharm TAK 3.4 dd 18.59 +0.94 .4111 163.64 64.00 Whirlpool WHR 4.4 8 108.80 –3.80 1.20
9.56 1.72 RPC RES ... dd 2.92 –0.44 ... 7.59 1.68 SequansComms SQNS ... dd 4.99 –0.54 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

31.34 5.00 TalosEnergy TALO ... 2 10.48 –1.57 ... 217.90 121.89 Unifirst UNF .6 17 159.23 –7.86 .25
77.47 42.85 RPM RPM 2.2 26 66.71 –2.12 .36 46.03 5.00 SeritageGrowth SRG ... dd 6.92 –1.24 ... 63.62 42.00 Unilever UN 3.2 20 48.29 –0.50 .4445 1168.21 629.21 WhiteMtnIns WTM .1 dd 881.17 –26.17 1.00
18.72 4.05 Tanger SKT .0 dd 5.75 –0.82 .3575 14.65 4.71 WhitestoneREIT WSR 8.2 10 5.11 –1.09 .035
15.18 4.62 RPTRealty RPT .0 6 5.09 –1.14 .22 52.89 33.93 ServiceCorp SCI 2.1 18 35.56 –2.95 .19 32.44 10.18 Tapestry TPR .0 dd 12.20 –2.68 .3375 64.84 44.06 Unilever UL 3.5 21 51.21 –0.67 .4445
.97 24.49 0.25 WhitingPetrol WLL ... dd .94 –0.13 ...
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4.83 0.72 RR Donnelley RRD .0 dd 1.05 –0.16 .03 58.78 17.63 ServiceMaster SERV ... 51 26.91 –2.80 ... 43.47 3.66 TargaResources TRGP 2.7 dd 15.03 +1.23 .10 188.96 105.08 UnionPacific UNP 2.6 18 151.24 –7.02
2.45 0.14 RTW Retail RTW ... dd .37 +0.01 ... 388.50 213.99 ServiceNow NOW ... cc 370.46 –6.80 ... 18.13 6.39 Unisys UIS ... dd 10.19 –1.25 ... 8.49 2.95 WideOpenWest WOW ... 15 5.29 –0.17 ...
130.24 70.09 Target TGT 2.2 19 120.94 +5.11 .66 50.05 30.42 Wiley A JW.A 3.8 14 35.46 –2.88 .34
7.84 2.22 RYBEducation RYB ... dd 2.58 –0.17 ... 105.84 30.01 ShakeShack SHAK ... 95 48.84 –6.17 ... 102.28 56.07 TaroPharm TARO ... 10 65.47 –2.76 ... 11.72 0.14 Unit UNT ... dd .24 –0.03 ...
5.00 0.65 RaMedicalSys RMED ... dd .78 –0.37 ... 21.00 12.20 ShawComm B SJR 5.3 15 15.87 –0.63 .0707 2.85 1.87 UnitedMicro UMC 2.6 20 2.52 –0.05 .0938 49.41 30.44 Wiley B JW.B 3.8 14 35.33 –1.17 .34
14.03 3.92 TataMotors TTM ... dd 5.48 –0.07 ... 29.06 8.41 Williams WMB 8.5 cc 18.76 –0.71 .40
26.32 9.53 RadianGroup RDN 3.6 5 13.92 –0.84 .125 22.70 5.70 ShellMidstream SHLX 13.7 8 13.08 +0.92 .46 53.40 26.24 TaubmanCtrs TCO 7.0 dd 38.53 –5.69 .675 23.38 5.00 UnitedNatFoods UNFI ... dd 18.32 +6.36 ...
F

30.86 9.40 Rafael RFL ... dd 12.84 –1.55 ... 599.95 325.43 SherwinWilliams SHW .9 33 568.38 +18.70 1.34 18 77.00 26.01 Williams-Sonoma WSM 2.9 15 66.52 –1.79 .48
28.47 6.39 TaylorMorrison TMHC ... 9 14.73 –1.01 ... 125.31 82.00 UPS B UPS 4.4 91.03 –3.80 1.01
128.29 59.82 RalphLauren RL 4.2 8 65.38 –6.70 .6875 40.00 17.09 ShinhanFin SHG 4.9 2 23.46 –1.13 1.3575 8 63.45 16.94 Winnebago WGO .9 16 50.58 –1.23 .11
19.00 3.75 Team TISI ... dd 4.30 –0.98 ... 170.04 58.85 UnitedRentals URI ... 118.57 –1.01 ...
4.63 2.52 Wipro WIT ... 12 2.91 –0.18 ...
9.45 1.61 RangeResources RRC .0 dd 4.91 –1.27 .02 774.79 262.17 Shopify SHOP ... dd 767.00 +58.03 ... 28.57 4.49 TechnipFMC FTI 2.0 dd 6.52 –1.40 .13 61.11 28.36 US Bancorp USB 5.5 8 30.68 –4.07 .42
8.11 2.49 RangerEnergySvcs RNGR ... 19 3.57 –0.19 ... 45.98 28.76 Shutterstock SSTK 1.9 77 36.65 –0.60 .17 34.70 12.19 WolverineWwide WWW 2.3 15 17.76 –2.24 .10
23.30 5.60 TeckRscsB TECK 1.6 dd 8.80 –0.34 .0354 15.90 4.54 US Steel X .6 dd 7.17 –1.37 .01
10.27 4.32 Ranpak PACK ... dd 6.65 –1.09 ... 13.27 3.16 Sibanye-Stillwater SBSW ... dd 7.87 +0.09 ... 38.26 15.54 WooriFin WF ... 4 18.98 –1.56 ...
5.76 2.04 Teekay TK ... dd 2.86 –0.56 ... 306.71 187.72 UnitedHealth UNH 1.5 20 290.96 +3.96 1.08 dd
1.56 0.51 RanpakWt PACK.WT ... ... 1.34 –0.18 ... 31.44 5.60 SignetJewelers SIG 16.4 9 9.03 –2.06 .37 64.11 22.01 Workiva WK ... 40.58 –1.77 ...
16.74 7.00 TeekayLNG un TGP 9.4 7 10.68 –0.53 .25 24.77 6.40 Univar UNVR ... cc 12.53 –2.52 ...
102.45 54.21 RaymondJames RJF 2.4 9 61.04 –5.79 .37 16.92 1.50 SilverBowRscs SBOW ... 1 4.06 –0.45 ... 44.37 20.04 WorldFuelSvcs INT 1.9 8 21.07 –3.19 .10
26.92 7.68 TeekayTankers TNK ... 13 16.28 –2.02 ... 63.18 37.04 Universal UVV 7.3 12 41.39 –3.59 .76 33
8.42 0.90 RayonierAdvMatls RYAM .0 dd 1.84 –0.13 .07 16.95 7.60 SilvergateCapital SI ... 13 14.25 +0.25 ... 81.91 29.10 WW Ent WWE 1.2 41.64 –4.42 .12
18.89 12.12 TejonRanch TRC ... 35 13.19 –0.68 ... 132.41 54.54 UniversalHealth UHT 3.4 58 81.38 –18.66 .685 44.69 19.28 WorthingtonInds WOR 4.0 14 24.22 –2.36 .24
33.10 15.96 Rayonier RYN 5.1 46 21.26 –3.92 .27 175.72 42.25 SimonProperty SPG 16.3 8 51.32 –6.70 2.10 203.85 53.46 TeladocHealth TDOC ... dd 184.23 +7.73 ... 157.79 65.20 UniversalHealthB UHS .0 11 92.63 –9.43 .20
93.45 40.71 RaytheonTech RTX 3.6 11 52.73 –5.94 .475 88.25 47.02 SimpsonMfg SSD 1.3 21 68.95 –5.86 .23 53.13 13.74 WyndhamDest WYND 8.6 8 23.35 –2.06 .50
18.55 6.57 TelecomArgentina TEO 16.5 dd 7.55 +0.44 .2888 30.79 14.20 UnivInsurance UVE 3.8 23 16.94 –1.69 .16 63.66 14.50 WyndhamHtls WH .8 25 41.16 –2.34 .08
16.90 3.92 ReadyCapital RC 29.8 dd 5.37 –0.74 .40 119.42 53.29 SiteOneLandscape SITE ... 45 88.75 –1.25 ... 398.99 195.34 TeledyneTech TDY ... 29 315.07 –17.65 ... 9.76 2.75 UnvlTechInst UTI ... 19 6.37 –0.87 ...
13.88 2.09 Realogy RLGY .0 dd 3.94 –0.64 .09 59.52 8.75 SixFlags SIX .0 10 19.11 –2.08 .25 398.65 221.27 Teleflex TFX .4 29 335.69 –4.61 .34 35.48 9.58 UnumGroup UNM 8.2 3 13.98 –1.54 .285
84.92
8.26
38.00
1.16
RealtyIncome
RedLionHotels RLH
O 5.6
...
34
dd
49.99
1.54
–4.87
–0.14
.233
...
44.50
37.03
17.06
10.82
SkechersUSA
SkylineChamp
SKX
SKY
...
...
13
19
24.91
20.38
–3.09
–1.44
...
...
14.68 7.75 TelefonicaBras VIV 7.7 10 7.86 –0.60 .2348 21.74 6.98 UrbanEdgeProp UE .0 8 8.36 –1.59 .22 XYZ
8.55 3.75 Telefonica TEF 7.5 22 4.59 –0.02 .2219 19.87 8.30 UrstadtBiddle UBP 10.5 17 9.52 –1.23 .25
18.01 2.14 RedwoodTrust RWT 34.5 dd 3.71 –0.49 .32 42.00 15.10 SlackTech WORK ... dd 31.33 +0.17 ... 31.48 16.06 TelekmIndonesia TLK 3.0 14 20.67 –0.63 .7724 24.88 10.05 UrstadtProp A UBA 9.7 21 11.54 –2.21 .28 5.85 0.76 XFinancial XYF ... ... .76 –0.14 ...
90.19 51.99 RegalBeloit RBC 1.7 15 69.61 –6.07 .30 57.88 30.91 Smartsheet SMAR ... dd 52.87 –3.55 ... 34.00 14.05 Telephone&Data TDS 3.9 16 17.56 –1.40 .17 90.94 43.01 UsanaHealth USNA ... 18 82.22 –5.77 ... 100.18 38.47 XPO Logistics XPO ... 18 64.32 –4.08 ...
34.93 10.33 RegionalMgmt RM ... 6 15.63 +0.67 ... 52.61 33.81 SmithAO AOS 2.4 20 40.41 –4.38 .24 100.39 22.00 TempurSealy TPX ... 13 53.65 –3.33 ... 22.59 6.15 XeniaHotels XHR .0 cc 7.35 –1.68 .275
17.54 6.94 RegionsFin RF 6.7 7 9.19 –1.13 .155 52.26 26.07 Smith&Nephew SNN 1.9 28 37.79 –2.85 .462 28.15 9.10 Tenaris TS 4.3 9 12.61 –1.26 .26
V 39.47 14.22 Xerox XRX 6.7 6 14.89 –3.24 .25
n-

23.27 4.22 Regis RGS ... dd 8.85 –2.25 ... 128.43 91.88 Smucker SJM 3.1 21 114.73 –1.35 .88 16.74 9.22 TencentMusic TME ... 35 11.96 +0.93 ... 4.54 1.93 XinyuanRealEst XIN 15.4 2 2.53 –0.12 .10
169.26 55.39 ReinsGrp RGA 3.4 9 82.91 –12.10 .70 19.76 7.89 Snap SNAP ... dd 17.10 –1.13 ... 39.37 10.00 TenetHealthcare THC ... dd 17.16 –2.37 ... 89.34 54.62 Xylem XYL 1.8 29 58.19 –4.81 .26
122.17 70.57 RelianceSteel RS 2.9 10 87.55 –5.32 .625 172.61 90.72 SnapOn SNA 3.5 10 122.95 –4.38 1.08 87.06 46.64 Tennant TNC 1.7 21 51.92 –4.36 .22 10.18 3.56 VEREIT VER 12.2 dd 4.51 –0.97 .1375 38.61 15.28 Yeti YETI ... 41 26.93 –2.16 ...
202.68 113.27 RenaissanceRe RNR .9 20 159.62 –0.75 .35 10.50 10.05 SocialCapHedII IPOC.UT ... ... 10.35 +0.14 ... 16.29 2.21 Tenneco TEN ... dd 4.48 –0.85 ... 100.25 45.07 VF VFC 3.7 16 51.96 –6.27 .48 18.73 2.25 YPF YPF 5.3 dd 4.14 +0.09 .1396
2.09 0.85 ReneSola SOL ... dd .92 –0.07 ... 10.65 10.10 SocialCapHedIII IPOB.UT ... ... 10.52 +0.18 ... 37.62 17.62 Teradata TDC ... 14 19.58 –4.00 ... 28.75 9.85 VICI Prop VICI 7.8 18 15.30 –1.79 .2975 5.33 1.78 YamanaGold AUY 1.2 18 5.29 +0.05 .0125
4.35 0.45 Renren RENN ... 1 1.86 +0.42 ... 33.67 15.20 SOQUIMICH SQM 3.2 21 21.88 –1.27 .1494 33.49 11.54 Terex TEX .0 10 13.79 –0.72 .12 5.88 1.48 VOC Energy VOC 29.4 3 1.80 +0.02 .03 39.37 12.89 Yelp YELP ... 63 19.51 –3.94 ...
10.48 9.49 ReplayAcqn RPLA ... 85 9.96 –0.02 ... 5.80 3.00 Sogou SOGO ... 16 3.51 +0.02 ... 62.31 42.12 TerrenoRealty TRNO 2.4 58 45.84 –5.99 .27 2.60 0.70 VaalcoEnergy EGY ... dd .85 –0.03 ... 22.65 8.56 Yext YEXT ... dd 13.54 –0.65 ...
no

100.91 65.37 RepublicSvcs RSG 2.0 24 79.47 –1.84 .405 18.14 4.50 SolarisOilfield SOI 7.5 9 5.63 –1.34 .105 2.18 0.22 TetraTech TTI ... dd .41 –0.05 ... 255.37 125.00 VailResorts MTN .0 23 168.93 –9.11 1.76 17.44 2.83 YirenDigital YRD ... 2 3.69 –0.26 ...
22.83 3.72 ResideoTech REZI ... dd 5.51 –0.37 ... 21.66 11.50 SolarWinds SWI ... cc 16.58 –0.42 ... 13.76 6.07 TevaPharm TEVA ... dd 11.21 –0.08 ... 11.39 0.29 Valaris VAL ... dd .32 –0.07 ... 29.50 12.01 Youdao DAO ... dd 23.41 +2.08 ...
177.99 108.85 ResMed RMD 1.0 47 164.12 +1.37 .39 35.41 9.00 SonicAutomotive SAH 2.0 dd 20.44 –3.31 .10 879.25 295.05 TexasPacLand TPL 1.9 17 524.35 +2.80 6.00 14.19 6.49 Vale VALE ... dd 8.27 –0.25 ... 119.72 54.95 YumBrands YUM 2.2 24 84.90 –1.28 .47
7.33 1.14 ResoluteForest RFP ... dd 1.73 –0.37 ... 66.57 37.30 SonocoProducts SON 3.8 15 45.33 –4.29 .43 11.75 5.50 Textainer TGH ... 12 7.30 –1.55 ... 101.99 31.00 ValeroEnergy VLO 6.7 60 58.78 –7.14 .98 50.74 38.33 YumChina YUMC .0 33 47.15 –1.40 .12
79.46 25.08 RestaurantBrands QSR 4.0 22 51.42 –0.25 .52 73.86 47.29 Sony SNE ... 13 64.01 –1.50 ... 54.24 20.26 Textron TXT .3 8 24.20 –3.10 .02 3.17 0.76 Valhi VHI 9.8 5 .81 ... .02 34.21 17.12 ZTO Express ZTO .0 32 33.33 +2.18 .29
14.30 2.87 RetailPropofAmer RPAI .0 29 4.22 –1.14 .1656 34.48 19.62 SoJerseyInd SJI 4.6 26 25.83 –2.40 .295 346.89 250.21 ThermoFisherSci TMO .3 38 342.92 +9.91 .22 154.86 82.60 ValmontInds VMI 1.8 14 101.28 –9.66 .45 94.89 50.23 Zendesk ZEN ... dd 74.55 –3.32 ...
38.85 8.32 RetailValue RVI 18.6 6 11.01 –3.19 2.05 54.85 33.95 SouthJerseyIndsUn SJIU 8.5 ... 42.61 –3.22 .9063 27.73 12.62 Thermon THR ... 21 13.55 –1.78 ... 23.90 9.06 Valvoline VVV 2.8 14 16.33 –0.83 .113 161.11 74.37 ZimmerBiomet ZBH .9 62 112.39 –9.47 .24
27.46 8.68 Revlon REV ... dd 10.02 –2.73 ... 71.10 41.96 Southern SO 4.9 16 52.54 –2.87 .64 11.53 5.64 ThirdPointReins TPRE ... dd 6.99 –0.92 ... 30.82 6.86 Vapotherm VAPO ... dd 25.16 –1.85 ... 146.26 90.14 Zoetis ZTS .6 38 127.49 +2.02 .20
48.36 7.17 Revolve RVLV ... dd 13.41 +0.38 ... 57.75 36.39 SouthernUnSeriesA SOLN 7.1 ... 44.68 –1.71 .8438 82.50 52.23 ThomsonReuters TRI 2.3 20 66.40 –1.85 .38 150.06 89.62 VarianMed VAR ... 42 114.03 –4.67 ... 22.89 6.21 Zuora ZUO ... dd 10.58 –0.68 ...
98.79 33.81 RexAmerRes REX ... 48 56.84 –3.69 ... 44.82 23.43 SoCopper SCCO 2.4 19 32.81 –1.64 .20 89.45 32.30 ThorIndustries THO 2.2 19 71.53 –5.45 .40 14.42 7.92 VectorGroup VGR 7.4 21 10.86 –0.77 .20 52.75 16.80 Zymeworks ZYME ... dd 37.49 +2.00 ...
53.48 31.79 RexfordIndlRealty REXR 2.3 77 37.07 –3.77 .215 58.83 22.47 SouthwestAir LUV .0 7 23.87 –3.33 .18 12.56 5.20 3D Systems DDD ... dd 7.01 –0.84 ... 59.24 28.90 Vectrus VEC ... 14 43.66 –4.58 ...
35.64 18.87 Rexnord RXN 1.2 20 26.58 –1.21 .08 92.94 45.68 SouthwestGas SWX 3.3 20 68.76 –7.29 .57 1.47 10.45 3.24 Vedanta VEDL ... 4 4.84 +0.64 ...
NYSE ARCA
187.72 114.04 3M MMM 4.2 16 138.69 –9.82
290.50 110.34 RingCentral RNG ... dd 285.85 +19.12 ... 4.05 1.06 SouthwesternEner SWN ... dd 2.70 –0.50 ... 25.11 4.09 Tidewater TDW ... dd 4.13 –1.03 ... 202.76 118.11 VeevaSystems VEEV ... cc 200.43 +8.09 ...
64.02 35.35 RioTinto RIO 8.0 10 47.59 +0.64 2.31 10.31 9.75 SpartanEnergy SPAQ ... 70 10.23 +0.03 ... 3.73 0.50 TidewaterWtA TDW.WTA ... ... .67 –0.05 ... 14.90 2.24 VelocityFinl VEL ... 3 2.53 –0.51 ...
45.16 25.92 RitchieBros RBA 2.0 29 40.40 –3.91 .20 1.15 0.27 SpartanEnerWt SPAQ.WT ... ... .59 +0.01 ... 3.52 0.21 TidewaterWtB TDW.WTB ... ... .54 –0.16 ... 5.53 1.12 VenatorMaterials VNTR ... dd 1.27 –0.13 ... 15.46 6.53 EmpireStateReal250 FISK 6.3 ... 6.69 –1.56 .105
23.88 5.04 RiteAid RAD ... dd 12.81 –0.55 ... 66.19 19.59 SpectrumBrands SPB 4.3 dd 39.05 –4.98 .42 134.42 78.60 Tiffany TIF 1.8 28 127.01 –1.55 .58 75.40 13.35 Ventas VTR 11.3 13 27.97 –2.13 .7925 15.81 6.13 EmpireStateReal60 OGCP 6.5 ... 6.50 –1.38 .105
63.97 32.38 RobertHalf RHI 3.0 12 45.14 –2.24 .34 88.00 57.37 Spire SR 3.7 23 67.13 –6.33 .6225 12.75 3.46 Tilly's TLYS .0 6 4.35 –0.78 1.00 20.16 5.25 Veoneer VNE ... dd 8.88 –1.48 ... 15.89 6.07 EmpireStateRealES ESBA 6.3 ... 6.67 –1.44 .105
209.61 115.38 Rockwell ROK 2.1 33 197.87 +5.42 1.02 92.81 13.69 SpiritAeroSys SPR .2 9 18.30 –2.19 .01 58.78 22.26 Timken TKR 3.0 8 37.38 –1.50 .28 22.01 5.70 Veritiv VRTV ... dd 9.34 –0.31 ... 106.56 16.88 US Oil Fund USO ... ... 22.39 +0.92 ...
54.82 32.20 RogersComm B RCI 3.6 13 39.09 –1.84 .3519 55.21 7.01 SpiritAirlines SAVE ... 2 8.01 –2.55 ... 8.86 2.16 TimkenSteel TMST ... dd 2.87 –0.25 ... 62.22 48.84 Verizon VZ 4.5 12 54.71 –2.29 .615 21.98 5.91 USBrentOilFd BNO ... ... 8.63 +0.52 ...
183.34 75.72 Rogers ROG ... 56 96.43 –10.95 ... 54.63 18.37 SpiritRealtyCap SRC 9.6 22 26.14 –3.73 .625 5.05 1.05 TItanIntl TWI 1.8 dd 1.11 –0.07 .005 23.40 1.50 VermilionEnergy VET .0 dd 4.40 –0.37 .1742 33.82 8.19 USGasolineFd UGA ... ... 15.60 +0.30 ...
42.80 30.72 Rollins ROL .8 65 40.00 –2.29 .08 163.94 109.18 Spotify SPOT ... dd 158.83 +6.68 ... 49.31 13.28 Toll Bros TOL 1.8 7 24.86 –2.49 .11 21.87 9.61 Verso VRS 2.9 4 13.75 –0.38 .10 23.40 11.04 US NatGas UNG ... ... 11.29 –1.35 ...
395.00 240.00 RoperTech ROP .6 23 361.50 +3.14 .5125 19.10 9.83 SpragueRscs SRLP 20.0 8 13.35 –0.14 .6675 39.63 30.79 TootsieRoll TR 1.0 33 33.43 –2.99 .09 13.75 4.75 Vertiv VRT ... dd 11.45 +0.44 ... 10.39 7.10 US12mthNtlGas UNL ... ... 7.93 –0.43 ...
26.17 8.85 RosettaStone RST ... dd 17.05 –1.50 ... 87.25 32.33 Square SQ ... cc 80.26 +4.21 ... 125.66 54.83 TopBuild BLD ... 15 90.36 –8.58 ... 14.76 5.80 VertivUn VERT.UT ... cc 12.18 +0.40 ... 23.85 9.50 US12moOilFd USL ... ... 11.93 +0.31 ...
May 18, 2020 BARRON’S M17

Nasdaq Issues
Nasdaq Issues includes stocks traded on the Nasdaq Global Select and Nasdaq Global Market tiers. They are eligible for inclusion on the basis of SEC-approved market
value of publicly-held shares, trading volume, price and number of market-makers. FIVE-DAY NASDAQ COMPOSITE
52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. Banned: A Commerce Dept. ban on deals with China’s Huawei hurt
127.30 79.08 AnalogDevices ADI 2.4 31 101.80 –8.03 .62 4.14 0.65 Big5SportingGds BGFV .0 3 1.18 –0.08 .05 Qualcomm and semiconductor stocks like Applied Materials. The Nasdaq
A 79.09 10.00 AnaptysBio ANAB ... dd 18.82 +0.56 ... 31.62 13.23 Bilibili BILI ... dd 30.88 +1.88 ...
30.15 10.00 Andersons ANDE 6.2 dd 11.34 –3.26 .175 282.52 155.17 Bio-Techne TECH .5 57 267.31 –3.19 .32 Composite Index ended Friday at 9,015—down 1.2% for the week.
60.00 40.48 AAON AAON .7 39 47.75 –1.19 .16 22.09 7.48 AngioDynamics ANGO ... 8 10.00 –0.73 ... 7.54 1.38 BioCryst BCRX ... dd 5.29 +0.59 ...
53.70 21.56 ACADIA Pharm ACAD ... dd 50.83 +0.11 ... 75.72 22.01 AnikaTherap ANIK ... 17 30.20 –0.34 ... 7.21 2.85 BioDeliverySci BDSI ... dd 4.35 –0.73 ... Monday Tuesday Wednesday Thursday Friday
39.37 20.03 ACI Worldwide ACIW ... 42 24.34 –2.66 ... 12.18 5.22 AnPacBioMed ANPC ... ... 8.00 +0.49 ... 374.99 215.78 Biogen BIIB ... 10 316.60 +2.58 ...
10.14 4.07 AC Immune ACIU ... dd 7.45 –0.29 ... 45.04 16.85 ApellisPharm APLS ... dd 31.00 –0.52 ... 100.75 62.88 BioMarinPharm BMRN ... cc 93.74 –1.46 ... 9255
60.38 12.51 ACM Research ACMR ... 61 58.71 +12.05 ... 46.70 13.77 ApogeeEnt APOG 4.3 8 17.53 –3.54 .1875 105.00 12.53 BioNTech BNTX ... dd 49.49 +0.25 ...
5.48 1.45 ADMA Biologics ADMA ... dd 2.62 +0.21 ... 3.98 1.24 ApolloEnd APEN ... dd 2.09 –0.14 ... 66.39 42.00 BioSpecificsTech BSTC ... 17 57.30 +0.35 ...
19.65 6.25 AGNC Invt AGNC 11.6 dd 12.44 –0.27 .12 18.33 5.20 ApolloInv AINV 22.0 9 8.20 –0.58 .45 55.85 27.35 BioTelemetry BEAT ... 60 41.53 –5.41 ...
1.93 0.28 ALJ Regional ALJJ ... dd .32 –0.08 ... 148.07 81.01 AppFolio APPF ... cc 124.14 –1.22 ... 44.78 17.63 BlackDiamond BDTX ... dd 40.72 –1.55 ...
13.53 4.41 AMAG Pharm AMAG ... dd 6.86 –2.37 ... 63.77 29.07 Appian APPN ... dd 51.10 +1.65 ... 97.35 38.22 Blackbaud BLKB .0 cc 51.23 –2.60 .12 9120

.
57.04 19.62 AMC Networks AMCX ... 5 27.58 +1.55 ... 327.85 170.27 Apple AAPL 1.1 24 307.71 –2.42 .82 74.44 38.32 BlackLine BL ... dd 64.27 +0.30 ... (Prev Fri's
80.65 48.02 Amerisafe AMSF 1.9 13 55.84 –5.86 .27 10.42 2.29 AppliedGenetic AGTC ... dd 4.10 +0.02 ... 6.30 1.47 BlackRockCapInvt BKCC 15.8 dd 2.53 –0.19 .10 Close)

ly
17.56 7.47 A-MarkPrecMet AMRK ... 10 16.40 +1.13 ... 69.44 36.64 ApplMaterials AMAT 1.7 17 52.04 –1.77 .22 14.79 4.02 BlkRkTCPCap TCPC 17.2 dd 8.36 +0.04 .36
15.55 4.10 ANGI Homesvcs ANGI ... cc 9.68 +1.97 ... 15.98 5.00 AppliedOptoelec AAOI ... dd 8.15 –2.04 ... 24.29 4.54 BloominBrands BLMN 8.0 33 9.99 –1.21 .20 8985
86.96 28.28 ANI Pham ANIP ... dd 31.02 –3.36 ... 57.39 8.06 AppliedTherap APLT ... dd 44.00 –2.30 ... 32.80 8.66 Blucora BCOR ... dd 10.83 –2.10 ...
299.06 174.25 Ansys ANSS ... 53 253.93 –9.09 ... 53.11 15.10 ApreaTherap APRE ... ... 36.07 +1.07 ... 23.99 8.40 BlueBird BLBD ... 13 11.78 –1.04 ...
23.60 7.19 ARKRestaurants ARKR 10.1 8 9.86 –1.34 .25 5.25 1.60 Aptinyx APTX ... dd 3.57 –0.54 ... 143.98 38.95 bluebirdbio BLUE ... dd 56.66 –2.62 ...
319.22 186.31 ASML ASML .8 43 292.54 –11.86 1.2718 33.28 1.66 Aptorum APM ... ... 3.16 –0.04 ... 1.55 0.53 BlueknightEner BKEP 11.4 dd 1.40 –0.12 .04
3.24 0.61 ATA Creativity AACG ... dd .71 –0.04 ... 8.59 2.81 ApyxMedical APYX ... dd 3.61 +0.36 ... 102.98 43.29 BlueprintMed BPMC ... dd 63.58 +4.21 ... 8850

on
79.64 37.01 ATN Intl ATNI 1.3 dd 54.02 –3.31 .17 10.00 1.41 AquestiveTherap AQST ... dd 5.50 +0.35 ... 21.97 6.66 BoingoWireless WIFI ... dd 13.45 +0.52 ...
11.20 2.23 AveoPharma AVEO ... dd 8.67 +0.48 ... 15.62 3.34 Aravive ARAV ... dd 12.44 +0.70 ... 2094.00 1107.29 BookingHldgs BKNG ... 18 1384.31 –46.52 ...
29.32 9.76 AVROBIO AVRO ... dd 15.25 +0.88 ... 3.66 0.82 ArbutusBiopharma ABUS ... dd 2.10 +0.75 ... 13.08 5.18 BostonPrivFin BPFH 7.8 8 6.16 –1.03 .12
5.91 1.85 AXT AXTI ... dd 5.02 –0.49 ... 32.46 13.54 ArcBest ARCB 1.7 14 19.37 –2.13 .08 57.22 27.82 Bottomline EPAY ... dd 40.39 –5.42 ... +71.02 -189.79 -139.38 +80.55 +70.84
285.77 119.01 Abiomed ABMD ... 42 184.92 –2.15 ... 48.32 20.93 ArchCapital ACGL ... 7 22.98 –2.97 ... 12.53 5.10 Brainsway BWAY ... ... 7.91 –0.56 ... 8715
69.13 44.38 AcaciaComms ACIA ... 70 67.26 –1.52 ... 59.49 29.09 ArcoPlatform ARCE ... dd 51.16 –5.44 ... 34.25 17.17 BridgeBancorp BDGE 5.1 8 18.66 –1.95 .24 10 12 2 4pm 10 12 2 4pm 10 12 2 4pm 10 12 2 4pm 10 12 2 4pm
3.50 1.75 AcaciaResearch ACTG ... dd 2.24 –0.21 ... 51.20 5.75 ArcturusTherap ARCT ... dd 45.24 +6.01 ... 48.36 14.23 BridgeBioPharma BBIO ... dd 32.19 –1.85 ...
35.40 11.09 AcadiaHealthcare ACHC ... 19 24.72 –1.83 ... 40.88 17.10 ArcutisBiotherap ARQT ... ... 25.56 +1.06 ... 38.00 14.06 BridgfordFoods BRID ... 21 15.11 –1.99 ...

us ,
108.50 37.01 AcceleronPharma XLRN ... dd 102.11 +0.32 ... 8.82 2.10 Ardelyx ARDX ... dd 7.42 +0.04 ... 12.88 5.44 Brightcove BCOV ... dd 7.98 –0.13 ...
4.68 1.33 Accuray ARAY ... 73 1.91 –0.25 ... 64.48 32.95 ArenaPharm ARNA ... dd 47.26 –4.84 ... 48.25 12.05 BrighthouseFin BHF ... 1 26.68 –2.05 ... 52-Week Tick Div 52-Week Tick Div
19.33 7.90 AresCapital ARCC 12.0 dd 13.38 –0.19 .40 331.58 155.67 Broadcom AVGO 5.0 43 260.41 –14.62 3.25

l
3.02 0.70 AcelRxPharm ACRX ... dd 1.40 –0.15 ... High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
5.77 0.70 AclarisTherap ACRS ... dd 1.29 –0.13 ... 169.50 103.75 arGEN-X ARGX ... dd 156.84 +7.79 ... 20.58 7.10 BrookfieldProp BPY 15.1 8 8.78 –0.61 .3325
.3325

e
11.76 0.70 AcordaTherap ACOR ... dd .78 ... ... 38.31 20.79 ArrowFinancial AROW 4.1 10 25.58 –1.93 .26 20.77 7.15 BrookfieldPropREIT BPYU 15.2 dd 8.75 –0.80

al a
48.69 14.52 Cheesecake CAKE .0 9 18.52 –3.93 .36 28.81 10.63 CrineticsPharm CRNX ... dd 19.70 +1.88 ...
75.97 41.84 ActivisionBliz ATVI .6 36 73.92 +0.78 .41 73.72 18.82 ArrowheadPharm ARWR ... cc 35.85 +1.71 ... 16.96 8.13 BrooklineBcp BRKL 5.4 14 8.51 –1.00 .115 42.06 3.55 ChefsWarehouse CHEF ... 45 12.91 –0.73 ... 20.77 5.89 Criteo CRTO ... 7 9.36 –0.68 ...
7.78 1.90 AdamasPharm ADMS ... dd 2.56 –0.44 ... 39.60 30.01 ArtesianRscs A ARTNA 3.0 20 32.75 –2.90 .2496 50.35 21.19 Brooks Auto BRKS 1.1 82 37.54 –1.65 .10 59.20 6.16 ChemoCentryx CCXI ... dd 53.80 –0.59 ... 43.79 8.40 Crocs CROX ... 16 24.00 –1.01 ...
6.00 0.71 AdaptimmuneTher ADAP ... dd 4.65 +0.21 ... 61.57 15.19 Arvinas ARVN ... dd 45.28 –7.50 ... 54.49 30.78 Bruker BRKR .4 37 41.53 +2.70 .04 49.26 21.75 ChemungFinl CHMG 4.2 9 24.93 –0.67 .26 17.86 4.00 Cronos CRON ... 6 5.53 +0.11 ...
55.12 15.19 AdaptiveBiotech ADPT ... dd 38.04 +2.00 ... 27.30 0.91 AscenaRetail ASNA ... dd 1.04 –0.18 ... 41.41 22.20 BrynMawrBank BMTC 4.3 13 24.05 –3.15 .26 9.25 2.88 Chiasma CHMA ... dd 5.29 –0.17 ... 13.42 4.50 CrossCtyHlthcr CCRN ... dd 5.19 –0.56 ...
148.70

ci on
104.56 43.13 AddusHomeCare ADUS ... 57 83.83 +1.22 ... 90.06 AscendisPharma ASND ... dd 139.90 +2.39 ... 28.43 9.00 BuildersFirstSrc BLDR ... 10 16.09 –1.81 ... 10.63 4.66 ChickenSoupA CSSE ... dd 7.25 –1.20 ... 15.50 5.66 CrossFirstBkshs CFB ... 12 8.33 –1.13 ...
6.49 1.25 ADDvantage AEY ... dd 1.78 –0.43 ... 2.28 0.89 AsiaPacificWire APWC ... dd .96 –0.03 ... 26.64 9.17 BusFirstBcshs BFST 3.5 7 11.44 –0.64 .10 110.53 9.25 Children'sPlace PLCE .0 7 31.14 +1.15 .56 101.88 31.95 CrowdStrike CRWD ... dd 77.14 +0.44 ...
386.75 255.13 Adobe ADBE ... 55 365.30 –2.21 ... 8.18 0.35 AslanPharm ASLN ... dd 1.68 –0.07 ... 4.40 1.19 Chimerix CMRX ... dd 3.18 +0.25 ... 6.99 3.32 CumberlandPharm CPIX ... dd 3.68 –0.22 ...
16.99
4.04
4.80
0.90
Adtran
AduroBiotech
ADTN
ADRO
3.5
...
dd
dd
10.40
2.95
–0.98
+0.02
.09
...
10.27
142.89
3.58
73.07
AspenGroup
AspenTech
ASPU
AZPN
...
...
dd
28
7.03
93.76
–0.71
–6.77
...
... C 119.44
11.00
88.00
3.65
ChinaBiologic
ChinaFinance
CBPO
JRJC
...
...
30
dd
106.85
4.33
–2.97
–0.41
...
...
19.18
2.90
3.00
0.62
CumulusMedia
Curis
CMLS
CRIS
...
...
1
dd
3.33
.77
–0.72 ...
–0.12 ...
15.34 4.45 AdvEmissions ADES .0 5 4.85 –2.61 .25 25.07 8.13 AssemblyBiosci ASMB ... dd 21.02 +1.13 ... 5.18 0.34 ChinaIndex CIH ... 3 1.16 –0.19 ... 39.15 9.07 Cutera CUTR ... dd 12.24 –0.41 ...
78.49 33.38 AdvEnergyInds AEIS ... 33 58.38 –4.55 ... 3.63 0.55 AssertioTherap ASRT ... dd .81 +0.01 ... 13.15 8.42 Cadiz CDZI ... dd 10.49 –0.19 ... 148.74 69.51 CyberArkSoftware CYBR ... 72 95.54 –13.52 ...
11.82 5.65 AstaFunding ASFI ... 11 11.39 +0.05 ... 57.61 28.00 C&F Fin CFFI 4.7 6 32.37 +0.17 .38 2.53 0.63 ChinaXDPlastics CXDC ... 1 .91 –0.01 ...
59.27 26.03 AdvMicroDevices AMD ... cc 54.20 +1.01 ... 24.83 13.92 ChipMOSTechs IMOS ... 9 20.18 –1.34 ... 31.50 11.55 CyberOptics CYBE ... cc 28.54 –1.61 ...
3.17 0.21 Advaxis ADXS ... dd .73 +0.01 ... 46.37 25.17 AstecIndustries ASTE 1.2 29 36.50 –4.61 .11 30.95 16.25 CB FinSvcs CBFV 4.4 10 21.63 –2.60 .24 15.73 1.69 CyclerionTherap CYCN ... dd 3.85 –0.32 ...
44.34 6.99 Astronics ATRO ... dd 7.69 –1.09 ... 31.73 12.50 CBTX CBTX 2.4 9 16.60 –1.54 .10 167.53 52.90 ChurchillDowns CHDN .6 41 101.50 –8.54 .581
23.79 4.96 AdverumBiotech ADVM ... dd 18.10 –1.49 ... 29.45 7.28 Chuy's CHUY ... 39 14.11 –2.30 ... 13.10 1.21 CymaBayTherap CBAY ... dd 4.05 +2.27 ...
11.40 57.00 29.12

er s
23.65 Aegion AEGN ... dd 12.32 –1.87 ... 26.97 5.29 AstroNova ALOT .0 25 5.85 –1.16 .07 CDK Global CDK 1.7 cc 36.33 –4.45 .15 79.73 43.72 CyrusOne CONE 2.9 dd 69.35 –4.18 .50
24.75 4.52 AtaraBiotherap ATRA ... dd 10.77 +0.63 ... 146.09 73.39 CDW CDW 1.6 19 97.81 –10.73 .38 4.44 1.22 CidaraTherap CDTX ... dd 2.99 –0.23 ...
9.10 3.50 AegleaBioTherap AGLE ... dd 7.12 –1.13 ... 145.09 40.80 Cimpress CMPR ... 14 72.09 –3.15 ... 22.99 7.73 Cytokinetics CYTK ... dd 21.64 +5.89 ...
1.72 0.37 Aemetis AMTX ... dd .72 +0.02 ... 21.11 5.63 Athenex ATNX ... dd 10.55 +0.64 ... 36.79 20.45 CEVA CEVA ... cc 31.72 –1.91 ... 15.44
.51 118.19 46.07 CincinnatiFin CINF 4.9 cc 49.25 –6.48 .60 3.60 CytomXTherap CTMX ... dd 9.01 –5.23 ...
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

41.44 10.80 AeriePharm AERI ... dd 14.85 –0.42 ... 2.95 1.46 AtlanticAmerican AAME ... dd 1.87 +0.08 ... 91.23 56.94 CH Robinson CHRW 2.8 20 72.50 –1.30
20.21 8.89 AtlCapitalBcshs ACBI ... 18 9.95 –1.77 ... 69.31 6.27 CimComm CMCT 3.2 5 9.39 –0.73 .075 2.03 0.25 Cinedigm CIDM ... dd .65 +0.07 ...
72.70 45.00 AeroVironment AVAV ... 51 61.88 +0.61 ...
D
12.56
3.74
6.03
1.42
AestheticMed
Affimed
AIH
AFMD
...
... dd
9 8.00
2.36
–0.99
+0.10
...
...
40.20
32.50
18.55
17.74
m er
AtlUnionBkshs
AtlanticaYield
AUB
AY
5.1
7.0
10
77
19.80
23.34
–2.17
+0.04
.25
.41
8.86
225.36
1.62
131.80
CLPS
CME Group
CLPS
CME
...
1.9
55
27
1.91
181.07
–0.15
–0.46
...
.85
304.81
91.63
58.26
154.33
37.24
32.40
Cintas
CirrusLogic
CiscoSystems
CTAS
CRUS
CSCO
1.1
...
3.3
26
25
18
227.42
65.58
44.27
+9.21
–10.72
+1.28
2.55
...
.36
34.87 13.98 Afya AFYA ... 45 19.91 –1.49 ... 18.36 3.25 Atlanticus ATLC ... 8 13.74 –3.94 ... 33.78 13.25 CNB FinPA CCNE 4.8 6 14.24 –2.70 .17 13.49 2.02 DBV Tech DBVT ... dd 5.33 –0.69 ...
37.17 12.61 Agilysys AGYS ... dd 17.57 –1.15 ... 46.84 14.97 AtlasAir AAWW ... dd 35.47 –3.21 ... 58.19 21.96 CRA Intl CRAI 2.5 13 37.03 –3.26 .23 24.78 6.70 CitiTrends CTRN .0 8 11.53 –0.64 .08
12.75 5.26 CtznCmntyBcp CZWI 2.9 7 7.27 –0.89 .21 6.19 0.71 DIRTT Envl DRTT ... dd 1.02 –0.24 ...
54.68 27.77 AgiosPharm AGIO ... dd 46.29 +6.68 ... 14.14 5.00 AtlasTech ATCX ... dd 8.95 –1.73 ... 74.00 32.30 CRISPR Therap CRSP ... 81 61.09 +7.25 ... 44.48 17.09 DISH Network DISH ... 12 24.71 –1.02 ...
2.94 1.00 AgroFresh AGFS ... dd 2.68 +0.46 ... 1.40 0.38 AtlasTechWt ATCXW ... ... .42 –0.15 ... 58.69 36.33 CSG Systems CSGS 2.2 17 43.57 –3.59 .235 22.99 16.02 CitizensHolding CIZN 4.4 20 22.03 –0.01 .24
155.10 90.28 CitrixSystems CTXS 1.0 26 146.72 –4.26 .35 76.68 20.15 DMC Global BOOM .0 16 24.10 –1.77 .125
0.08 ... AgroFresh Wt AGFSW ... ... .01 –0.03 ... 190.21 107.00 Atlassian TEAM ... dd 186.50 +10.31 ... 3.98 0.35 CSI Compressco CCLP 10.4 dd .39 –0.08 .01
83.07 53.06 CityHolding CHCO 4.1 9 55.18 –8.40 .57 18.74 10.26 DSP Group DSPG ... dd 16.56 +0.05 ...
37.00 10.09 AimmuneTherap AIMT ... dd 16.34 –1.22 ... 29.35 9.51 Atreca BCEL ... dd 19.13 +1.30 ... 15.85 4.51 CSP CSPI 7.5 dd 8.02 –2.35 .15
m rp
15.03 7.84 Clarus CLAR 1.1 18 9.00 –0.99 .0249 43.94 10.44 DXP Ents DXPE ... 7 13.75 –2.30 ...
24.50 9.06 AirT AIRT ... 14 9.46 –1.58 ... 49.37 22.57 AtriCure ATRC ... dd 48.15 +3.09 ... 81.06 50.13 CSW Industrials CSWI .9 21 62.51 –4.04 .135
3.30 1.05 CleanEnerFuels CLNE ... 12 1.94 –0.17 ... 7.95 3.69 Daktronics DAKT 5.3 dd 3.79 –0.56 .05
0.30 0.03 AirT Wt AIRTW ... ... .07 ... ... 922.80 579.00 Atrion ATRI 1.0 33 635.99 –42.90 1.55 80.62 46.81 CSX CSX 1.7 15 62.00 –4.11 .26 72.15 27.55 Datadog DDOG ... dd 67.16 +15.43 ...
25.60 13.20 AirTransportSvcs ATSG ... dd 19.76 –1.82 ... 61.60 22.51 AuburnNatlBncp AUBN 2.1 20 49.50 +0.53 .255 22.23 14.92 CVB Fin CVBF 4.3 12 16.76 –2.68 .18 14.90 8.32 Clearfield CLFD ... 37 12.23 –0.67 ...
4.13 0.56 ClearsideBiomed CLSD ... dd 1.98 +0.14 ... 55.96 4.61 Dave&Buster's PLAY .0 3 9.75 –1.75 .16
108.25 73.19 AkamaiTech AKAM ... 33 98.09 –3.06 ... 34.95 9.00 AudioCodes AUDC .8 cc 31.87 –1.93 .13 19.63 5.51 CabalettaBio CABA ... ... 7.05 –0.61 ... 2.30 0.32 DAVIDsTEA DTEA ... dd .75 –0.03 ...
25.66 8.00 AkceaTherap AKCA ... dd 14.85 –0.63 ... 21.93 3.52 AuriniaPharm AUPH ... dd 17.16 –0.24 ... 169.13 85.26 CabotMicro CCMP 1.5 50 118.04 –17.59 .44 18.09 2.93 ClovisOncology CLVS ... dd 9.69 +0.67 ...
18.59 8.41 CoastalFinl CCB ... 12 12.49 –1.54 ... 2.93 0.84 DawsonGeophys DWSN ... dd 1.33 –0.15 ...
13.17 2.99 AkebiaTherap AKBA ... dd 12.42 +0.44 ... 8.95 1.50 AuroraMobile JG ... dd 1.83 –0.47 ... 83.58 51.39 CadenceDesign CDNS ... 23 82.07 –0.39 ... 71.11 19.88 DecipheraPharm DCPH ... dd 51.74 –2.97 ...
34.00 10.78 AkeroTherap AKRO ... dd 22.99 +0.98 ... 211.58 125.38 Autodesk ADSK ... cc 180.72 –3.57 ... 14.74 3.22 CaesarsEnt CZR ... dd 10.03 +0.33 ... 382.51 188.08 CocaColaCon COKE .4 65 227.01 –13.95 .25
30.41 12.39 DenaliTherap DNLI ... dd 22.65 –1.24 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

5.46 0.18 Akorn AKRX ... dd .29 +0.04 ... 23.80 3.00 AutolusTherap AUTL ... dd 10.75 +0.66 ... 17.85 7.65 Caesarstone CSTE .0 21 9.67 –1.28 .15 19.71 8.43 Codexis CDXS ... dd 11.10 –1.13 ...
23.60 10.62 CodorusValleyBncp CVLY 5.6 10 11.48 –1.47 .16 60.87 31.58 DentsplySirona XRAY 1.1 cc 37.71 –2.94 .10
62.02 32.00 Alarm.com ALRM ... 47 50.33 +0.28 ... 182.32 103.11 ADP ADP 2.7 23 134.85 –11.15 .91 46.65 30.74 Cal-MaineFoods CALM ... dd 43.90 –0.46 ... 47.43 24.35 Descartes DSGX ... 99 44.26 –1.11 ...
2.50 1.44 AlaskaCommSys ALSK .0 17 2.29 +0.04 .09 13.49 1.26 AvadelPharm AVDL ... dd 8.08 –1.28 ... 13.50 3.70 CalAmp CAMP ... dd 5.66 –1.26 ... 92.96 53.24 CogentComm CCOI 3.4 93 75.43 –3.71 .68
1.98 0.22 DestinationXL DXLG ... dd .38 ... ...
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35.93 13.64 Alector ALEC ... dd 27.70 +0.46 ... 15.27 7.10 AviatNetworks AVNW ... 24 12.44 +2.75 ... 100.58 48.31 CalavoGrowers CVGW 1.9 32 56.60 –1.34 1.10 59.14 35.20 Cognex CGNX .4 52 57.22 –0.30 .055
71.48 40.01 CognizantTech CTSH 1.8 16 50.18 –6.98 .22 3.09 2.02 Deswell DSWL 3.4 14 2.34 –0.01 .08
134.84 72.67 AlexionPharm ALXN ... 10 101.94 +4.60 ... 10.79 4.67 AvidTechnology AVID ... cc 5.08 –0.96 ... 21.00 9.11 CaliforniaBncp CALB ... 22 15.45 –1.05 ... 428.00 113.63 DexCom DXCM ... cc 417.73 +12.23 ...
38.25 22.55 Alico ALCO 1.3 6 28.12 –1.43 .09 52.98 6.35 AvisBudget CAR ... 4 11.88 –2.86 ... 8.18 2.45 CalitheraBiosci CALA ... dd 6.68 +0.03 ... 178.08 78.21 Coherent COHR ... cc 134.13 –6.07 ... 150.00 75.00 DiamondHillInvt DHIL .0 9 101.99 –5.12 9.00
330.72 127.88 AlignTech ALGN ... 9 203.67 –6.36 ... 46.41 17.85 Avnet AVT 3.3 dd 25.40 –3.48 .21 5.00 0.82 CalumetSpecialty CLMT ... dd 2.00 +0.01 ... 23.91 10.86 CoherusBioSci CHRS ... 9 16.62 –0.68 ... 114.14 14.55 DiamondbkEner FANG 3.9 dd 38.78 –3.30 .375
15.45 ... AlimeraSciences ALIM ... dd 5.39 –0.42 ... 3.75 2.02 Aware AWRE ... dd 2.94 +0.18 ... 15.55 2.40 Calyxt CLXT ... dd 4.28 –0.01 ... 26.43 8.89 Cohu COHU .0 dd 13.12 –1.98 .06 27.68 11.11 DicernaPharma DRNA ... dd 21.67 +0.83 ...
.175
F

25.74 11.98 Alkermes ALKS ... dd 15.27 +0.28 ... 29.24 12.99 AxcelisTechs ACLS ... 36 23.52 –2.73 ... 11.75 3.57 CambiumNtwks CMBM ... dd 4.11 –1.48 ... 30.24 13.26 CollectorsUniv CLCT 3.5 16 19.75 –0.45 18.99 6.18 DigiIntl DGII ... 49 10.43 –1.66 ...
139.99 30.32 Allakos ALLK ... dd 67.65 +4.83 ... 15.25 2.25 AxcellaHealth AXLA ... dd 3.97 –3.36 ... 48.48 25.74 CamdenNational CAC 4.7 8 27.99 –3.36 .33 25.59 10.01 CollegiumPharm COLL ... dd 22.03 +0.56 ... 66.50 9.92 Digimarc DMRC ... dd 15.61 –1.16 ...
38.95 20.88 AllegianceBcshs ABTX 1.8 11 22.35 –1.78 .10 90.10 49.80 AxonEnterprise AAXN ... dd 73.91 –12.22 ... 14.24 6.27 Camtek CAMT .0 21 11.72 +0.54 .17 92.07 33.93 ColliersIntl CIGI .2 18 46.49 –3.92 .05 8.84 2.25 Digirad DRAD ... dd 2.37 –0.58 ...
183.26 60.06 AllegiantTravel ALGT .0 9 75.51 +0.10 .70 43.37 15.25 AxonicsModul AXNX ... dd 35.81 +0.66 ... 13.00 2.53 Canaan CAN ... dd 4.39 –1.50 ... 17.40 8.70 ColonyBankcorp CBAN 3.9 11 10.25 –1.07 .10 22.50 11.43 DimeComBcshrs DCOM 4.3 14 12.97 –1.72 .14
6.30 0.53 AllenaPharm ALNA ... dd 1.81 –0.10 ... 8.52 1.41 AxovantGene AXGT ... dd 3.17 +0.17 ... 25.35 12.00 CanadianSolar CSIQ ... 6 17.05 –1.49 ... 41.40 19.11 ColumbiaBanking COLB 5.5 9 20.55 –3.60 .28 59.70 30.51 Diodes DIOD ... 16 43.70 –6.62 ...
19.00 2.70 AllianceResource ARLP .0 dd 2.84 –0.52 .40 109.94 13.64 AxsomeTherap AXSM ... dd 86.88 –1.09 ... 14.00 7.80 CanterburyPark CPHC .0 16 10.00 +0.01 .07 17.34 12.00 ColumbiaFin CLBK ... 31 12.86 –1.10 ... 103.00 24.80 DiscoveryB DISCB ... 14 39.74 –3.63 ...
60.28 37.66 AlliantEnergy LNT 3.3 18 45.95 –2.04 .38 16.50 14.63 AyalaPharm AYLA ... ... 15.00 –0.03 ... 15.07 6.98 CapitalBancorp CBNK ... 9 10.30 –1.20 ... 109.44 51.82 ColumbiaSportswr COLM .0 17 62.78 –4.87 .26 33.66 17.12 DiscoveryA DISCA ... 7 20.47 –0.62 ...
49.98 19.00 AlliedMotionTech AMOT .4 17 29.12 –1.29 .03 30.95 15.61 CapitalCityBank CCBG 3.2 10 17.33 –2.67 .14 43.09 19.20 ColumbusMcKinn CMCO 1.0 8 23.76 –2.97 .06 31.20 15.43 DiscoveryC DISCK ... 7 18.72 –0.64 ...
46.22 47.74 31.71 Comcast A CMCSA 2.6 14 35.92 –0.61 .23
13.05
17.43
6.44
AllogeneTherap
Allot
ALLO
ALLT
...
...
dd
dd
44.91
10.52
+13.50
–1.36
...
... B 14.20
22.90
5.18
7.39
CapitalProduct
CapitalSouthwest
CPLP
CSWC
19.5
12.7 17
6 7.18
12.71
–0.89
–0.09
.35
.10 71.92 45.51 CommerceBcshrs CBSH 2.0 17 54.22 –4.63 .27 9.91
2.09
2.00
0.34
DiversifiedHlthcr
DixieGroup
DHC
DXYN
1.6
...
dd
1
2.49
.68
–0.76
–0.08
.01
...
12.02 4.56 AllscriptsHlthcr MDRX ... dd 5.81 –0.59 ... 9.99 2.18 CapitalaFinance CPTA .0 dd 2.24 –0.39 .0833 8.43 1.24 CommVehicle CVGI ... 2 1.55 –0.54 ... 126.28 43.13 DocuSign DOCU ... dd 125.88 +9.32 ...
151.84 65.81 AlnylamPharm ALNY ... dd 139.28 +3.15 ... 5.72 1.51 BBQ Holdings BBQ ... 2 2.47 –0.23 ... 14.57 10.01 CapitolFedFin CFFN 3.1 21 10.98 –0.36 .085 18.95 5.50 CommScope COMM ... dd 8.78 –2.40 ... 3.49 0.78 Dogness DOGZ ... 20 1.09 –0.02 ...
14.50 5.82 Alpha&OmegaSem AOSL ... dd 9.64 –1.32 ... 14.96 8.34 BCB Bancorp BCBP 6.3 9 8.82 –0.82 .14 17.48 7.44 CapStarFin CSTR 2.0 10 9.95 –0.95 .05 9.90 2.66 CommsSystems JCS 1.5 6 5.20 –0.31 .02 119.71 60.20 DollarTree DLTR ... 22 75.07 –2.98 ...
1530.74 1008.87 Alphabet A GOOGL ... 28 1373.06 –11.28 ... 2.06 0.52 BCommunications BCOM ... dd 1.41 +0.11 ... 27.55 8.88 CaraTherap CARA ... dd 15.04 +0.87 ... 47.54 26.45 CmntyTrBcp CTBI 5.3 9 28.82 –3.19 .38 38.36 7.62 Domo DOMO ... dd 22.28 +1.46 ...
1532.11 1013.54 Alphabet C GOOG ... 28 1373.19 –15.18 ... 11.85 3.71 BELLUS Health BLU ... dd 10.93 +0.64 ... 55.22 26.00 CardiovascularSys CSII ... dd 34.58 –3.55 ... 11.86 5.27 CommWestBcshs CWBC 2.8 7 6.34 –0.72 .045 16.19 11.22 DonegalGroup A DGICA 4.5 14 13.48 –0.61 .15
7.93 2.19 Alphatec ATEC ... dd 4.20 –0.68 ... 6.15 2.07 BGC Partners BGCP 1.6 cc 2.56 –0.31 .01 107.50 19.21 Cardlytics CDLX ... dd 55.19 +4.53 ... 51.90 24.26 CommVaultSys CVLT ... dd 35.58 –9.37 ... 14.80 10.51 DonegalGroup B DGICB 4.6 13 11.50 –0.60 .1325
5.95 2.05 AlpineImmune ALPN ... dd 3.27 +0.28 ... 48.98 6.01 BJsRestaurants BJRI 3.0 13 17.42 –3.98 .13 47.41 15.71 Cardtronics CATM ... 18 19.06 –2.73 ... 16.31 2.73 Compugen CGEN ... dd 12.29 –3.12 ... 21.46 8.52 DorchesterMnls DMLP 17.4 8 10.63 –0.63 .4779
43.28 23.04 AltairEngg ALTR ... dd 32.25 –2.09 ... 31.67 13.38 BMC Stock BMCH ... 13 21.63 –0.55 ... 41.27 13.04 CareDx CDNA ... dd 29.93 +1.68 ... 35.78 16.93 ComputerPrograms CPSI 1.9 14 20.89 –2.52 .10 89.65 44.49 DormanProducts DORM ... 26 66.04 +3.46 ...
5.74 1.51 Altimmune ALT ... dd 4.48 +1.37 ... 88.28 34.57 BOK Fin BOKF 4.9 7 41.62 –7.65 .51 25.52 7.16 CareTrustREIT CTRE 6.1 31 16.28 –1.24 .25 6.48 2.86 ComputerTask CTG ... 12 4.06 –0.05 ... 11.88 6.11 DouYuIntl DOYU ... cc 7.60 +0.14 ...
n-

23.58 6.00 AltisourcePortf ASPS ... dd 8.31 –0.24 ... 18.50 8.35 BRP Group BRP ... ... 10.83 –0.21 ... 40.91 14.25 CarGurus CARG ... 62 23.02 –2.74 ... 10.95 1.43 comScore SCOR ... dd 2.39 –0.82 ... 29.40 9.76 DraftKings DKNG ... cc 29.23 +5.78 ...
38.43 12.00 AltraIndlMotion AIMC .6 dd 25.11 –3.01 .04 56.89 12.97 BRP DOOO .0 9 26.12 –3.49 .0762 34.98 15.21 Carlyle CG 5.3 dd 23.48 –1.07 .25 38.00 11.48 ComtechTel CMTL 2.6 16 15.67 –2.82 .10 17.60 0.80 DraftKingsWt DKNGW ... ... 17.26 +5.71 ...
5.42 0.47 AltusMidstream ALTM ... dd .54 –0.11 ... 30.17 12.94 B RileyFin RILY 5.8 dd 17.15 +0.14 .25 9.76 0.98 CarrolsRestr TAST ... dd 3.95 –0.27 ... 13.09 5.36 ConcertPharm CNCE ... dd 8.33 ... ... 26.20 14.55 Dropbox DBX ... dd 22.37 +0.49 ...
20.00 7.90 AmalgamBank AMAL 3.4 7 9.54 –1.07 .08 147.38 82.00 Baidu BIDU ... cc 99.86 +0.09 ... 24.25 6.44 CarterBk&Tr CARE .0 8 7.31 –1.06 .14 9.93 1.54 Conduent CNDT ... dd 1.81 –0.45 ... 17.09 2.82 DuluthHoldings DLTH ... 6 3.48 –0.71 ...
26.12 3.95 Amarin AMRN ... dd 7.73 +0.02 ... 113.93 78.30 Balchem BCPC .6 35 86.30 +0.30 .52 8.03 1.85 CasaSystems CASA ... dd 3.79 –0.27 ... 4.83 0.50 Conformis CFMS ... dd .92 –0.03 ... 84.74 38.51 Dunkin' DNKN .0 22 63.20 –2.80 .4025
2475.00 1626.03 Amazon.com AMZN ... cc 2409.78 +30.17 ... 14.20 3.44 BallardPower BLDP ... dd 9.59 –0.32 ... 56.14 34.35 CasellaWaste CWST ... 67 47.83 –0.87 ... 4.60 2.00 Conifer CNFR ... dd 2.74 –0.69 ...
26.50 8.86 ConnectOneBncp CNOB 3.1 6 11.48 –3.26 .09
E
73.59 36.02 Ambarella AMBA ... dd 52.20 –2.55 ... 63.96 26.00 BancFirst BANF 4.0 9 32.24 –3.91 .32 181.99 114.01 CaseysGenStores CASY .9 24 145.58 –6.24 .32
77.29 44.05 Amdocs DOX 2.2 17 60.31 –3.02 .3275 119.98 42.61 Bandwidth BAND ... dd 113.49 +5.46 ... 60.97 28.85 CassInfoSys CASS 3.1 17 34.40 –3.75 .27 27.57 2.83 Conn's CONN ... 3 5.37 –1.17 ...
no

218.44 106.65 Amedisys AMED ... 48 184.38 +4.34 ... 32.71 14.20 BankOZK OZK 5.5 8 19.67 –2.26 .27 39.77 15.26 CastleBiosci CSTL ... cc 37.45 +5.95 ... 7.51 3.24 ConsldComm CNSL ... cc 5.15 –0.51 ...
23.59 10.05 AmerantBancorpA AMTB ... 11 10.93 –0.92 ... 12.31 5.68 BankofCommerce BOCH 3.0 9 6.71 –0.82 .05 8.50 2.74 CatabasisPharm CATB ... dd 6.16 +0.10 ... 18.83 12.00 ConsldWater CWCO 2.5 24 13.45 –0.85 .085 11.51 2.88 ECMOHO MOHO ... 17 3.69 –0.31 ...
17.50 8.01 AmerantBancorpB AMTBB ... 9 8.80 –0.60 ... 32.25 17.51 BankofPrinceton BPRN 2.2 10 18.00 –2.07 .10 38.91 17.58 CathayGenBncp CATY 5.4 7 22.79 –3.43 .31 59.49 6.01 ConstellPharm CNST ... dd 43.60 –5.62 ... 5.39 1.46 EDAP TMS EDAP ... 35 2.13 –0.04 ...
426.50 222.34 Amerco UHAL .0 18 289.62 –11.67 .50 20.04 5.58 Bank7 BSVN 4.4 11 9.05 –1.70 .10 236.10 99.58 CavcoIndustries CVCO ... 17 151.71 –9.68 ... 20.79 11.96 ConstructionPtrs ROAD ... 19 14.89 –2.06 ... 17.73 9.70 ESSA Bancorp ESSA 3.5 10 12.41 –0.46 .11
8.18 3.76 AmerFirstMultifam ATAX 11.5 11 4.33 –0.37 .125 14.75 6.73 BankFinancial BFIN 5.2 11 7.65 +0.21 .10 9.84 3.53 CECO Env CECE ... 9 4.80 +0.01 ... 4.30 1.00 ConsumerPtfo CPSS ... 4 2.44 –0.32 ... 57.30 25.76 E*TRADE ETFC 1.5 11 38.33 –2.88 .14
34.99 8.25 AmerAirlines AAL .0 dd 9.04 –1.10 .10 30.00 12.07 BankwellFin BWFG 4.0 8 13.96 –0.58 .14 20.24 7.32 Cellectis CLLS ... dd 19.32 +4.24 ... 104.88 55.69 Copart CPRT ... 26 79.54 –4.25 ... 31.93 10.12 EVO Payments EVOP ... dd 19.38 –1.73 ...
15.18 4.20 AmericanFin AFIN 13.4 dd 6.34 –1.12 .0708 60.21 27.12 Banner BANR 5.4 8 30.24 –5.85 .41 18.99 10.98 CellularBiomed CBMG ... dd 14.42 +0.46 ... 40.95 20.94 Core-Mark CORE 2.0 19 24.60 –2.80 .12 4.95 2.00 EXFO EXFO ... dd 2.30 –0.11 ...
41.50 18.53 AmNtlBcsh AMNB 4.9 10 21.83 –3.46 .27 56.47 22.19 Baozun BZUN ... 39 26.53 –3.20 ... 20.67 4.10 Celyad CYAD ... dd 8.61 –0.81 ... 64.45 22.22 CornerstoneOnDem CSOD ... dd 34.72 –2.03 ... 22.98 11.74 EagleBncpMT EBMT 2.4 8 15.89 –1.50 .095
126.97 63.93 AmericanNatlIns ANAT 4.7 13 69.57 –7.31 .82 95.64 27.25 BarrettBus BBSI 2.8 7 42.93 –4.33 .30 26.79 12.10 CenterStateBank CSFL 4.3 8 13.05 –2.61 .14 73.84 19.35 Cortexyme CRTX ... dd 55.01 +8.96 ... 5.74 1.27 EagleBulkShip EGLE ... dd 1.46 –0.24 ...
10.94 5.41 AmerOutdoor AOBC ... 38 10.00 +0.33 ... 18.24 4.25 BassettFurniture BSET .0 dd 5.37 –0.79 .125 28.71 7.80 Centogene CNTG ... ... 18.19 –0.81 ... 96.45 44.67 Corvel CRVL ... 20 49.59 –2.62 ... 64.94 33.80 EaglePharm EGRX ... cc 52.56 –2.46 ...
34.63 18.47 AmericanPubEdu APEI ... 44 31.74 +5.12 ... 24.89 10.08 BayCom BCML ... 8 10.68 –1.50 ... 5.03 1.80 CentralEurMedia CETV ... 13 3.97 –0.12 ... 8.10 1.01 CorvusPharm CRVS ... dd 3.51 +0.26 ... 51.88 22.55 EastWestBncp EWBC 3.5 7 31.83 –3.26 .275
16.43 8.00 AmRvrBksh AMRB 3.1 9 9.12 –1.12 .07 38.79 11.67 BeaconRoof BECN ... dd 20.55 –0.95 ... 36.41 22.40 CentralGarden CENT ... 23 35.01 –0.16 ... 746.70 496.11 CoStar CSGP ... 79 649.17 –8.25 ... 31.97 15.28 Eastern EML 2.6 7 16.61 –1.14 .11
19.82 9.05 AmerSoftware AMSWA 2.7 66 16.51 –0.10 .11 31.80 13.00 BeamTherap BEAM ... ... 21.41 +4.52 ... 33.64 20.51 CentralGardenA CENTA ... 21 32.32 –0.43 ... 325.26 233.05 Costco COST .9 35 299.21 –6.73 .70 42.86 26.02 eBay EBAY 1.5 7 42.11 –0.04 .16
11.86 4.40 AmerSupercond AMSC ... dd 5.84 –0.21 ... 4.15 1.28 BeasleyBroadcast BBGI 8.5 5 2.35 –0.09 .05 8.42 2.91 CenturyAluminum CENX ... dd 4.37 –0.47 ... 27.98 13.55 CountyBancorp ICBK 1.5 18 18.55 –2.16 .07 53.71 8.75 Ebix EBIX 1.7 6 17.44 –3.44 .075
117.70 35.30 AmericanWoodmark AMWD ... 10 49.62 –4.50 ... 17.79 3.43 BedBath BBBY .0 dd 5.79 –0.67 .17 93.49 51.40 CenturyBancorpA CNBKA .8 10 61.04 –5.63 .12 218.91 99.01 CoupaSoftware COUP ... dd 212.61 +18.73 ... 24.50 14.17 EchoGlobalLog ECHO ... 49 15.37 –2.13 ...
129.70 35.18 AmerCarMart CRMT ... 8 67.57 –4.96 ... 210.35 113.01 BeiGene BGNE ... dd 166.26 +9.45 ... 3.25 0.99 Ceragon CRNT ... dd 2.21 +0.03 ... 18.62 6.54 CovenantTranspt CVTI ... 17 7.89 –0.75 ... 45.15 25.21 EchoStar SATS ... dd 27.09 –3.62 ...
44.90 17.12 AmerisBancorp ABCB 3.1 8 19.36 –4.09 .15 19.55 6.08 BelFuse A BELFA 3.1 dd 7.69 –1.27 .06 29.36 11.39 Cerence CRNC ... ... 25.70 +3.55 ... 29.09 4.05 Covetrus CVET ... dd 12.18 +0.38 ... 34.37 14.01 EditasMedicine EDIT ... dd 26.28 +1.57 ...
4.30 2.36 AmeriServFin ASRV 3.4 9 2.94 –0.13 .025 21.50 6.30 BelFuse B BELFB 3.4 dd 8.24 –1.35 .07 80.90 53.08 Cerner CERN 1.1 40 65.11 –3.64 .18 18.36 5.75 Cowen COWN 1.4 dd 11.77 +0.22 .04 8.27 3.02 EducDev EDUC 3.5 8 5.72 +0.12 .05
244.99 166.68 Amgen AMGN 2.7 19 240.20 +5.38 1.60 30.80 3.32 BellicumPharm BLCM ... dd 6.11 –1.25 ... 6.50 2.71 Cerus CERS ... dd 5.24 –0.23 ... 180.93 53.61 CrackerBarrel CBRL .0 10 87.45 –7.45 1.30 16.24 7.84 EHang EH ... ... 11.37 –0.54 ...
13.39 6.25 AmicusTherap FOLD ... dd 11.60 –0.07 ... 33.38 6.09 Benefitfocus BNFT ... dd 9.13 –2.06 ... 17.57 6.18 ChangeHlthcr CHNG ... dd 10.64 –0.75 ... 17.19 7.11 CraftBrewAlliance BREW ... dd 15.02 –0.62 ... 152.19 52.71 eHealth EHTH ... 39 117.76 +1.58 ...
15.25 5.40 AmkorTech AMKR ... 11 9.39 –0.74 ... 35.00 15.60 BenefyttTech BFYT ... dd 20.97 –1.85 ... 63.29 30.71 ChangeHlthcrUn CHNGU 7.1 ... 42.19 –2.73 .75 498.06 199.00 CreditAcceptance CACC ... 9 313.87 –19.04 ... 66.56 24.50 EidosTherap EIDX ... dd 40.00 –2.98 ...
22.85 12.33 AmphastarPharm AMPH ... 17 18.18 –0.61 ... 11.72 1.82 Berry(bry) BRY .0 dd 3.68 –0.26 .12 82.52 15.00 ChartIndustries GTLS ... 21 32.00 –6.10 ... 64.95 27.77 Cree CREE ... dd 42.75 –3.90 ... 15.82 4.55 EigerBioPharma EIGR ... dd 12.12 +1.56 ...
7.96 3.55 AmtechSystems ASYS ... dd 4.92 –0.35 ... 239.71 48.18 BeyondMeat BYND ... dd 134.16 +0.65 ... 546.54 345.67 CharterComms CHTR ... 61 503.39 –11.89 ... 17.99 6.21 CrescentCapBDC CCAP 15.5 dd 10.60 –0.72 .41 47.25 14.00 89bio ETNB ... ... 27.67 –3.53 ...
5.26 1.40 Amyris AMRS ... dd 3.43 +0.75 ... 19.79 6.24 BicycleTherap BCYC ... dd 14.78 +0.55 ... 120.99 80.06 CheckPoint CHKP ... 19 104.75 –2.24 ... 11.39 2.32 Cresud CRESY ... ... 3.22 +0.01 ... 16.65 6.15 ElPolloLoco LOCO ... 18 13.03 –0.84 ...
M18 BARRON’S May 18, 2020

Nasdaq Issues
52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
167.75 110.00 ElbitSystems ESLT 1.3 25 132.10 –6.38 .44 27.49 5.75 Franchise FRG 7.1 25 14.18 –1.88 .25 34.13 15.80 HealthcareSvcs HCSG 3.6 22 22.39 –2.79 .2025 7.70 1.38 InvestcpCredit ICMB 17.5 dd 3.43 +0.03 .15 20.07 3.05 LogicBioTherap LOGC ... dd 6.08 –1.22 ...
70.74 6.02 EldoradoResorts ERI ... dd 23.21 +2.12 ... 61.49 41.25 FranklinElec FELE 1.4 22 45.53 –3.67 .155 88.78 34.40 HealthEquity HQY ... 81 52.43 –5.79 ... 12.74 6.31 InvestorsBancorp ISBC 6.3 10 7.62 –1.23 .12 54.43 31.37 LogitechIntl LOGI 1.4 20 53.01 +1.62 .7334
5.64 0.32 electroCore ECOR ... dd .90 –0.06 ... 6.48 0.73 FreightCarAmer RAIL ... dd 1.00 –0.34 ... 29.78 20.03 HealthStream HSTM ... 43 21.66 –1.58 ... 182.52 96.45 InvestorsTitle ITIC 1.5 13 119.90 –12.60 .44 86.63 62.02 LogMeIn LOGM 1.5 dd 85.32 +0.13 .325
120.19 85.69 ElectronicArts EA ... 12 118.13 +1.51 ... 12.43 5.95 FrequencyElec FEIM ... dd 7.90 –1.97 ... 22.71 15.65 HeartlandExp HTLD .4 23 19.02 –0.93 .02 73.09 39.32 IonisPharma IONS ... 51 53.07 –1.33 ... 3.70 0.36 LonestarRscs LONE ... dd .58 –0.09 ...
13.37 1.44 EloxxPharm ELOX ... dd 2.54 –0.43 ... 28.78 11.17 FrequencyTherap FREQ ... ... 19.47 +1.43 ... 51.85 25.26 HeartlandFinUSA HTLF 3.0 7 26.76 –5.67 .20 39.00 14.65 IovanceBiotherap IOVA ... dd 36.28 +0.17 ... 18.65 6.05 LoopIndustries LOOP ... dd 8.51 –1.04 ...
3.82 1.46 Emcore EMKR ... dd 2.96 –0.17 ... 81.29 35.95 Freshpet FRPT ... dd 72.72 –0.87 ... 34.41 17.99 Heidrick&Strug HSII 3.1 9 19.27 –2.75 .15 27.50 14.51 iQIYI IQ ... dd 17.95 +0.42 ... 42.77 13.68 LoralSpace LORL ... dd 16.92 –7.21 ...
101.27 38.40 EnantaPharma ENTA ... 49 55.20 +3.72 ... 53.30 30.06 frontdoor FTDR ... 24 42.34 +0.11 ... 198.59 104.02 HelenofTroy HELE ... 27 164.58 –3.29 ... 136.55 56.24 iRhythmTechs IRTC ... dd 131.18 +6.66 ... 41.14 4.00 Lovesac LOVE ... dd 13.78 +0.09 ...
40.16 15.27 EncoreCapital ECPG ... 9 31.00 –0.05 ... 1.80 0.30 FuelTech FTEK ... dd .94 +0.03 ... 49.49 29.03 HeliosTechnologies HLIO 1.2 36 30.00 –4.75 .09 5.69 1.22 Iridex IRIX ... dd 1.47 –0.30 ... 266.20 128.85 lululemon LULU ... 50 247.09 +9.10 ...
62.08 38.01 EncoreWire WIRE .2 14 43.50 –3.06 .02 3.00 0.13 FuelCell FCEL ... dd 1.84 –0.26 ... 15.34 8.00 HemisphereMedia HMTV ... dd 8.67 –0.28 ... 32.08 16.87 IridiumComm IRDM ... dd 20.84 –1.40 ... 93.23 40.28 Lumentum LITE ... 46 67.73 –13.48 ...
7.10 1.97 EndoIntl ENDP ... dd 3.81 –0.28 ... 22.96 4.37 FulcrumTherap FULC ... dd 16.69 +2.01 ... 73.99 41.85 HenrySchein HSIC ... 14 51.76 –2.27 ... 96.58 32.79 iRobot IRBT ... 41 62.92 –1.73 ... 40.21 17.35 Luminex LMNX 1.1 dd 33.79 +0.55 .09
8.14 0.60 Endologix ELGX ... dd .70 –0.18 ... 20.60 4.71 FulgentGenetics FLGT ... dd 16.39 –0.19 ... 13.14 6.04 HeritageCommerce HTBK 7.5 11 6.93 –1.25 .13 14.10 7.91 IronwoodPharm IRWD ... 21 11.13 +0.94 ... 32.40 6.74 LumosPharma LUMO ... dd 11.30 +1.15 ...
6.19 1.31 EnduranceIntl EIGI ... dd 2.46 –0.03 ... 18.00 8.91 FultonFin FULT 5.4 8 9.65 –1.31 .13 32.58 11.30 HeritageCrystal HCCI ... 20 13.85 –4.42 ... 7.65 1.40 IterumTherap ITRM ... dd 3.44 –0.04 ... 11.99 6.76 LutherBurbank LBC 2.6 11 8.77 –0.72 .0575
12.04 6.11 EnergyRecovery ERII ... 46 7.26 –0.92 ... 27.89 3.12 Funko FNKO ... 25 4.22 –0.51 ... 30.57 14.65 HeritageFin HFWA 5.1 9 15.77 –3.10 .20 88.32 40.48 Itron ITRI ... 37 55.73 –6.90 ... 68.33 14.56 Lyft LYFT ... dd 28.15 –4.58 ...
63.80 13.85 EnphaseEnergy ENPH ... 34 58.38 +1.10 ... 14.20 8.16 Futu FUTU ... 69 13.11 +1.13 ... 2.84 0.25 Hexindai HX ... dd .34 –0.04 ... 34.75 11.01 IturanLocation ITRN .0 58 14.30 –2.40 .24 22.00 14.00 LyraTherap LYRA ... ... 14.68 –0.53 ...
58.92 24.06 EnsignGroup ENSG .5 17 38.37 +0.98 .05 30.98 7.33 HibbettSports HIBB ... 10 15.08 –0.98 ...
213.99 94.58 EnstarGroup ESGR ... cc 125.66 –17.48 ...
G 5.10 1.70 HimaxTechs HIMX ... dd 3.09 –0.16 ...
J MN

.
9.25 1.75 EntasisTherap ETTX ... dd 2.46 –0.22 ... 216.82 125.55 HinghamSvg HIFS 1.2 10 143.06 –10.72 .42
59.05 33.75 Entegris ENTG .6 27 55.52 –1.18 .08 19.67 9.52 HollysysAuto HOLI 1.6 7 12.73 –1.69 .21
34.75 19.27 EnterpriseBncp EBTC 3.3 9 21.29 –1.19 .175 79.06 26.51 GCI LibertyA GLIBA ... 10 61.72 –2.13 ... 1.46 0.30 JAKKS Pacific JAKK ... dd .57 –0.11 ... 32.25 13.01 Macom Tech MTSI ... dd 28.18 –2.97 ...

ly
55.25 26.49 Hologic HOLX ... 23 51.93 –0.06 ...
48.81 21.70 EnterpriseFinSvcs EFSC 3.0 7 24.16 –4.61 .18 65.34 30.90 GDS Holdings GDS ... dd 62.03 –0.89 ... 40.80 18.57 HomeBancorp HBCP 4.1 9 21.26 –3.13 .22 196.84 105.67 J&JSnackFoods JJSF 1.9 28 120.96 –7.36 .575 3.44 1.01 MDC Partners MDCA ... dd 1.22 –0.06 ...
27.82 9.74 Epizyme EPZM ... dd 17.72 +0.41 ... 41.80 8.80 G1Therapeutics GTHX ... dd 16.23 +1.86 ... 21.04 9.71 HomeBancShares HOMB 4.2 9 12.37 –1.96 .13 51.01 25.48 JD.com JD ... 42 50.85 +4.07 ... 83.26 47.19 MGE Energy MGEE 2.4 23 59.74 –2.81 .3525
99.63 42.53 ePlus PLUS ... 13 67.78 –5.61 ... 96.50 21.49 GRAVITY GRVY ... 9 42.79 +1.59 ... 35.44 18.44 HomeStreet HMST 2.9 13 20.43 –3.49 .15 79.90 41.33 Joyy YY ... 8 54.85 –0.15 ... 69.90 21.64 MGP Ingredients MGPI 1.4 15 34.78 –3.87 .12
4.35 2.32 EpsilonEnergy EPSN ... 11 2.95 +0.05 ... 9.00 4.75 GSI Tech GSIT ... dd 7.05 –0.64 ... 27.79 11.75 HomeTrustBcshs HTBI 2.2 9 13.01 –1.50 .07 104.57 58.00 j2Global JCOM .0 20 72.36 –9.24 .455 122.30 66.87 MKS Instrum MKSI .9 26 92.47 –9.23 .20
7.76 2.20 Equillium EQ ... dd 2.98 –0.33 ... 188.76 67.98 GWPharm GWPH ... dd 116.02 +7.60 ... 24.00 11.05 HomologyMed FIXX ... dd 13.41 +0.72 ... 190.11 123.64 JackHenry JKHY .9 49 189.79 +7.00 .43 18.51 9.96 MSB Fin MSBF .0 14 11.25 –1.05 .22
715.75 471.80 Equinix EQIX 1.6 cc 658.66 –19.50 2.66 10.49 4.70 Gaia GAIA ... dd 8.97 +0.14 ... 29.74 12.30 HookerFurniture HOFT 4.6 10 13.86 –0.35 .16 93.12 16.81 JackintheBox JACK .0 30 66.35 +0.68 .40 7.75 3.25 MTBC MTBC ... dd 6.59 +0.20 ...
12.49 274.03 112.00 Galapagos GLPG ... 80 220.31 +3.19 ... 52.18 25.34 JamesRiver JRVR 3.9 dd 30.58 –2.93 .30 13.15

on
31.91 EquityBcshs EQBK ... 7 13.72 –2.38 ... 15.51 7.06 HopeBancorp HOPE 6.9 7 8.13 –1.30 .14 63.31 MTS Systems MTSC .0 12 13.62 –4.59 .30
270.23 130.20 ErieIndemnity A ERIE 2.3 29 164.48 –4.25 .965 19.50 5.58 GaleraTherap GRTX ... ... 11.00 –0.70 ... 19.48 7.42 HorizonBancorp HBNC 5.5 6 8.69 –2.16 .12 154.24 86.88 JazzPharma JAZZ ... 23 111.16 +0.72 ... 38.14 16.33 MYR Group MYRG ... 10 24.33 –2.77 ...
12.00 3.50 ErytechPharma ERYP ... dd 7.74 –1.01 ... 7.70 2.60 GamidaCell GMDA ... dd 6.34 +1.94 ... 13.78 4.51 HorizonTechFin HRZN 11.8 9 10.14 +0.39 .10 21.65 6.61 JetBlue JBLU ... 10 8.24 –0.85 ... 11.42 6.01 Macatawa MCBC 4.9 7 6.51 –0.56 .08
12.10 4.69 Escalade ESCA 5.7 14 8.79 +0.57 .125 50.99 13.04 Gaming&Leisure GLPI 8.9 15 26.96 –0.94 .60 47.20 22.69 HorizonTherap HZNP ... 17 47.07 +3.63 ... 19.74 1.60 Jiayin JFIN ... 2 1.92 –0.17 ... 29.50 4.04 Macrogenics MGNX ... dd 25.80 +5.46 ...
76.98 24.82 EsperionTherap ESPR ... dd 45.44 –1.13 ... 105.58 61.04 Garmin GRMN 2.9 15 78.03 –3.31 .57 7.02 1.03 HoughtonMifflin HMHC ... dd 1.13 –0.17 ... 84.42 48.76 JohnsonOutdoors JOUT 1.0 12 64.99 –4.11 .17 5.25 2.46 MagalSec MAGS ... 30 2.98 –0.02 ...
9.07 2.50 EtonPharm ETON ... dd 4.75 –0.80 ... 13.50 9.38 GencorIndustries GENC ... 38 11.02 –1.03 ... 6.12 1.67 HoustonWire HWCC ... 51 2.47 +0.13 ... 10.00 2.79 JounceTherap JNCE ... 4 4.59 –0.15 ... 81.04 30.60 MagellanHealth MGLN ... 23 68.60 +6.41 ...
85.84 29.95 Etsy ETSY ... cc 85.63 +4.92 ... 11.24 4.62 GeneralFin GFN ... 18 5.11 –0.19 ... 43.15 25.01 Huazhu HTHT ... 38 32.14 –1.07 ... 17.89 5.76 MagentaTherap MGTA ... dd 8.80 –1.96 ...
5.62
171.25
10.09
61.27
3.01
EuronetWorldwide
EveloBiosci
EEFT
EVLO
...
...
14
dd
81.77
4.37
–10.64
–0.71
...
...
24.85
29.13 16.24
Genfit
Genmab
GNFT
GMAB
...
...
dd
78
5.78
28.67
–15.36
+1.15
...
...
60.42
2.45
36.51
0.32
HubGroup
HudsonCapital
HUBG
HUSN
...
...
14
dd
39.20
.40
–6.28
–0.18
...
...
K 11.53
12.87
6.31
8.26
MagicSoftware
MagyarBancorp
MGIC
MGYR
3.4
...
22
24
9.20
10.00
–0.06
+0.90
.156
...

us ,
3.52 0.67 Ever-Glory EVK ... dd .69 –0.06 ... 13.49 3.36 GenMarkDiagn GNMK ... dd 11.60 –0.36 ... 15.00 6.06 HudsonGlobal HSON ... 70 9.00 –0.35 ... 10.69 4.57 Majesco MJCO ... 35 5.70 –0.13 ...
165.79 59.85 Everbridge EVBG ... dd 158.80 +4.93 ... 31.27 19.48 Gentex GNTX 2.0 15 24.29 –1.73 .12 14.80 4.83 HuizeHolding HUIZ ... cc 6.31 –0.94 ... 184.50 101.34 KLA KLAC 2.0 26 167.43 –4.07 .85 30.13 10.00 MakeMyTrip MMYT ... dd 13.31 –1.77 ...

l
53.87 10.38 EverQuote EVER ... dd 49.00 –1.38 ... 49.95 27.24 Gentherm THRM ... 30 37.62 –1.47 ... 122.29 75.29 JBHunt JBHT 1.1 21 98.14 –5.11 .27 28.25 0.51 KLX Energy KLXE ... dd 1.15 –0.14 ... 52.13 18.02 MalibuBoats MBUU ... 12 41.61 +2.21 ...
7.85 1.75 EverspinTech MRAM ... dd 5.55 +0.69 ... 17.66 4.61 GeospaceTech GEOS ... dd 5.97 –0.02 ... 11.64 6.36 KVH Inds KVHI ... dd 8.25 –1.31 ... 23.75 10.06 MalvernBancorp MLVF ... 10 10.55 –1.10 ...

e
15.63 6.82 HuntingtonBcshs HBAN 8.0 8 7.51 –1.15 .15 117.06 54.54 KaiserAlum KALU 4.6 15 58.84 –10.63 .67

al a
1.83 0.75 Evogene EVGN ... dd 1.02 –0.19 ... 36.17 23.54 GermanAmerBncp GABC 2.9 12 26.20 –2.47 .19 39.44 20.39 Hurco HURC 1.8 20 29.62 –1.53 .13 14.55 0.56 MammothEnergy TUSK ... dd 1.02 –0.08 ...
20.27 3.12 Evolus EOLS ... dd 3.74 –0.40 ... 1.79 0.75 Geron GERN ... dd 1.75 +0.44 ... 12.51 3.24 KalaPharm KALA ... dd 12.10 +0.80 ... 90.46 35.20 ManhattanAssoc MANH ... 54 72.32 –4.45 ...
56.58 30.60 GibraltarInds ROCK ... 18 39.22 –4.87 ... 70.91 35.15 HuronConsulting HURN ... dd 39.20 –5.93 ... 19.00 2.82 KaleidoBiosci KLDO ... dd 6.50 +0.12 ...
29.86 11.40 Exagen XGN ... dd 13.83 –1.90 ... 30.30 14.74 HutchisonChina HCM ... dd 22.38 +0.58 ... 18.03 6.49 Mannatech MTEX 4.3 5 11.64 +0.35 .125
27.80 13.67 Exelixis EXEL ... 28 25.76 –0.24 ... 34.42 2.96 GIIIApparel GIII ... 3 8.85 –1.73 ... 24.59 5.61 KalVistaPharm KALV ... dd 10.15 +0.03 ... 1.88 0.80 MannKind MNKD ... dd 1.22 –0.09 ...
10.76 4.70 GilatSatellite GILT ... 13 8.26 –0.30 ... 8.00 4.40 Kamada KMDA ... 9 7.48 –0.02 ...
I
51.18 29.28 Exelon EXC 4.3 13 35.29 –2.14 .3825 93.99 55.25 ManTechIntl MANT 1.9 23 68.15 –5.41 .32

ci on
79.78 40.61 ExlService EXLS ... 25 54.38 –7.07 ... 85.97 60.89 GileadSciences GILD 3.6 20 76.26 –1.23 .68 5.79 2.17 KandiTech KNDI ... dd 3.09 –0.33 ... 5.46 1.10 Marchex MCHX ... dd 1.36 –0.36 ...
9.53 3.55 ExOne XONE ... dd 7.53 +0.27 ... 46.51 26.66 GlacierBancorp GBCI 3.2 16 35.78 –3.14 .29 152.00 11.24 KarunaTherap KRTX ... dd 81.00 –1.32 ... 3.70 0.77 MarinSoftware MRIN ... dd 1.48 –0.19 ...
12.55 6.51 eXpWorld EXPI ... dd 8.38 –0.49 ... 10.69 4.04 GladstoneCap GLAD 12.5 dd 6.24 –0.09 .065 278.85 124.60 IAC/InterActive IAC ... cc 239.94 +5.07 ... 29.61 4.41 KaryopharmTherap KPTI ... dd 19.06 +0.13 ... 4.83 0.77 MarinusPharma MRNS ... dd 2.28 +0.30 ...
144.00 40.76 Expedia EXPE .0 18 66.76 –2.51 .34 23.98 7.59 GladstoneComm GOOD 10.2 dd 14.73 –1.98 .1252 95.24 47.75 ICF Intl ICFI 1.0 17 57.58 –6.77 .14 14.40 7.29 KearnyFinancial KRNY 4.1 16 7.87 –0.89 .08 9.17 1.33 MarkerTherap MRKR ... dd 2.31 –0.09 ...
81.64 52.55 ExpeditorsIntl EXPD 1.5 22 71.51 –3.32 .52 15.34 6.43 GladstoneInvt GAIN 8.0 dd 10.29 –0.83 .07 259.72 148.89 ICU Medical ICUI ... 46 185.96 –12.14 ... 28.91 10.13 KellyServices A KELYA .0 dd 11.84 –2.00 .075 517.93 275.50 MarketAxess MKTX .5 82 488.05 +3.73 .60
82.82 55.08 Exponent EXPO 1.2 40 64.52 –1.44 .19 14.46 9.61 GladstoneLand LAND 4.1 dd 13.00 –1.37 .0447 16.90 2.95 IDEAYA Bio IDYA ... dd 7.82 +0.96 ... 29.43 10.35 KellyServices B KELYB .0 dd 12.48 +0.08 .075 25.44 4.66 MarlinBusSvcs MRLN 7.6 9 7.38 –1.46 .14
18.29 5.35 ExtendedStayAmer STAY .4 39 10.59 –0.52 .01 87.54 39.95 GlbBloodTherap GBT ... dd 72.69 –4.56 ... 300.58 168.65 IdexxLab IDXX ... 59 294.38 +6.48 ... 8.27 4.40 KY FirstFedBncp KFFB 6.5 50 6.20 –0.26 .10 153.39 46.56 Marriott MAR .0 29 79.76 –7.41 .48
4.60 0.21 ExtractionOil XOG ... dd .29 –0.13 ... 34.65 22.17 GlobalIndemnity GBLI 4.3 60 23.25 –1.58 .25 9.57 5.00 IEC Elec IEC ... 15 8.00 +0.05 ... 32.75 19.10 KerosTherap KROS ... ... 28.60 +1.22 ... 25.66 16.01 MartenTransport MRTN .7 21 23.28 –1.52 .04
14.99 8.51 GlobalWaterRscs GWRS 2.7 cc 10.54 –0.78 .0241 27.78 13.73 IES Holdings IESC ... 13 21.21 –0.91 ... 22.84 6.96 KewauneeSci KEQU .0 dd 9.84 –0.30 .19 7.78 0.91 MartinMidstream MMLP 12.0 dd 2.09 –0.32 .0625
8.50 1.43 ExtremeNetworks EXTR ... dd 2.90 –0.47 ... 10.72 3.98 GluMobile GLUU ... dd 9.45 –0.80 ... 6.99 2.51 KeyTronic KTCC ... 11 4.21 –0.14 ...
2.69 0.70 EyePointPharm EYPT ... dd .80 –0.07 ... 74.13 16.10 IGM Biosci IGMS ... ... 59.00 +0.26 ... 28.86 16.45 MarvellTech MRVL .9 11 26.34 –0.51 .06

er s
13.44 1.82 GlycoMimetics GLYC ... dd 3.11 +0.13 ... 48.68 19.00 II-VI IIVI ... dd 40.01 +4.18 ... 20.87 2.18 KezarLifeSci KZR ... dd 5.17 –0.84 ... 258.00 128.36 Masimo MASI ... 67 248.82 +11.68 ...
10.20 3.41 Ezcorp EZPW ... dd 4.82 –0.70 ... 7.23 1.33 Gogo GOGO ... dd 1.83 +0.43 ... 42.64 20.60 Kforce KFRC 2.8 19 28.14 –2.81 .20
19.75 9.30 I-Mab IMAB ... ... 18.87 +2.52 ... 24.79 4.90 MasterCraftBoat MCFT ... dd 11.44 +0.56 ...
12.26 1.30 GolarLNGPartners GMLP 3.9 8 2.08 –0.33 .0202 18.49 9.78 KimballElec KE ... 11 11.83 –1.20 ...
F 95.32 44.74 MatchGroup MTCH ... 40 78.17 –1.82 ...
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

52.23 28.01 INTL FCStone INTL ... 8 38.99 –3.23 ... 22.40 8.19 KimballIntl B KBAL 3.5 9 10.28 –2.27 .09
20.94 4.54 GolarLNG GLNG .0 dd 5.45 –1.27 .15 166.49 98.04 IPG Photonics IPGP ... 49 146.18 –5.88 ... 22.00 10.65 Materialise MTLS ... cc 19.57 –0.75 ...
21.67 3.55 GoldenEnt GDEN ... dd 8.23 –0.56 ... 26.89 20.35 KingsoftCloud KC ... dd 23.10 –0.74 ...
64.99 35.15 FARO Tech FARO ... dd 51.17 –3.73 ... 6.92
18.85
2.52
8.94
m er
GoldenOcean
GolubCapital
GOGL
GBDC
10.6
10.7
12
dd
3.07
10.80
–0.20
...
.05
.29
22.24
37.85
5.06
13.01
IRSA Prop
i3Verticals
IRCP
IIIV
...
...
...
dd
5.10
25.81
–1.25
+1.08
...
... 22.77
137.38
5.01
80.93
KiniksaPharm
KinsaleCapital
KNSA
KNSL
...
.3
dd
60
21.46
133.02
+1.03
–2.62
...
.09
24.36
14.83
7.11
6.53
MatrixService
Mattel
MTRX
MAT
...
...
dd
dd
7.95
8.01
–1.67
–0.81
...
...
153.99 79.78 F5Networks FFIV ... 25 138.73 –10.29 ... 8.97 0.91 IVERICbio ISEE ... dd 3.69 –0.37 ... 5.00 0.56 Kirkland's KIRK ... dd .82 +0.02 ... 40.36 18.06 MatthewsIntl MATW 4.2 dd 20.04 –2.90 .21
60.89 30.00 FRP Holdings FRPH ... 25 39.77 –4.13 ... 17.20 4.09 Goodyear GT .0 dd 6.38 –0.84 .16 79.68 25.65 Iberiabank IBKC 5.1 6 35.02 –6.67 .47 65.73 41.93 MaximIntProducts MXIM 3.7 18 52.06 –2.06 .48
63.07 33.48 GooseheadIns GSHD ... cc 58.21 –3.29 ... 82.75 8.63 KodiakSciences KOD ... dd 56.62 –0.37 ...
224.20 137.10 Facebook FB ... 29 210.88 –1.47 ...
7.35 2.00 GoPro GPRO ... dd 3.81 +0.37 ... 79.37 34.00 IcahnEnterprises IEP 15.6 dd 51.32 +1.19 2.00 45.21 22.17 KornitDigital KRNT ... cc 30.31 –1.93 ... 83.95 44.32 McGrathRent MGRC 3.3 13 50.28 –2.61 .42
16.60 5.66 FangddNetwork DUO ... dd 9.67 –0.22 ... 39.83 13.68 Ichor ICHR ... 37 20.19 –3.09 ... 33.43 19.99 KraftHeinz KHC 5.5 19 29.20 –0.36 .40 7.40 1.29 MedallionFin MFIN ... dd 2.03 –0.17 ...
35.55 16.19 Fanhua FANH 6.3 37 18.68 –0.82 .30 27.15 7.52 GossamerBio GOSS ... dd 14.14 –0.78 ... 5.49 2.73 iClickInteract ICLK ... dd 5.05 +0.31 ... 13.12 2.79 MediciNova MNOV ... dd 5.54 +0.07 ...
21.67 5.94 FarmerBros FARM ... dd 7.48 –1.35 ... 132.72 57.89 GrandCanyonEduc LOPE ... 18 95.89 +3.48 ... 25.08 5.00 KratosDefense KTOS ... cc 15.64 –1.62 ... 4.65 1.44 MediWound MDWD ... 11 1.93 –0.04 ...
178.99 104.28 Icon ICLR ... 23 157.03 –1.85 ...
m rp
39.96 26.72 Fastenal FAST 2.6 28 38.92 –0.13 .25 9.05 2.25 GreatElmCap GECC 33.6 dd 2.96 –0.25 .083 66.85 22.02 KrystalBiotech KRYS ... dd 59.20 +1.18 ... 109.09 53.10 Medpace MEDP ... 29 84.36 +2.18 ...
4.44 1.31 GreatElmCap GEC ... dd 2.05 –0.03 ... 2.75 0.51 IconixBrand ICON ... dd .77 –0.18 ... 28.66 16.91 Kulicke&Soffa KLIC 2.3 41 20.90 –2.24 .12
32.39 12.59 FateTherap FATE ... dd 28.45 –0.39 ... 19.69 4.31 iHeartMedia IHRT ... 0 6.73 –0.27 ... 21.42 6.35 KuraOncology KURA ... dd 15.30 +0.45 ... 30.23 8.82 MeiraGTx MGTX ... dd 13.56 –0.77 ...
16.87 10.07 FedNat FNHC 3.2 21 11.28 –0.75 .09 11.96 6.75 GreatLakesDredge GLDD ... 7 7.78 –0.91 ... 380.76 196.78 Illumina ILMN ... 53 335.00 +25.13 ... 25.49 10.81 MelcoResorts MLCO 4.2 19 15.14 –1.60 .1651
64.48 32.23 GreatSouthernBncp GSBC 3.9 7 35.09 –4.88 .34 28.80 5.07 KuraSushiUSA KRUS ... cc 14.96 –1.19 ...
2.00 0.35 Ferroglobe GSM ... dd .69 +0.11 ...
16.49 3.77 GreenPlains GPRE .0 dd 6.29 –0.84 .12 30.00 13.40 Imara IMRA ... ... 27.25 +4.40 ... 7.48 1.00 MenloTherap MNLO ... dd 1.69 –0.26 ...
48.95 22.65 FibroGen FGEN ... dd 36.09 –0.33 ... 8.66 4.23 Immersion IMMR ... dd 6.45 –0.60 ... 805.84 422.22 MercadoLibre MELI ... dd 775.05 –9.47 ...
70.00 30.50 FidelityD&D FDBC 3.1 12 36.04 –0.46 .28 15.41
16.77
3.47
1.02
GreenPlainsPtrs
Greenlane
GPP
GNLN
10.0
... dd
3 4.81
2.61
–0.70
–0.36
.12
... 7.07 1.76 Immunogen IMGN ... dd 4.43 +0.52 ... L 37.32 18.64 MercantileBank MBWM 5.7 7 19.76 –2.84 .28
14.53 2.72 FiestaRestaurant FRGI ... dd 7.61 –0.11 ...
11.26 5.00 GreenlightCapRe GLRE ... dd 6.38 –0.21 ... 34.15 8.80 Immunomedics IMMU ... dd 33.96 +1.35 ... 16.55 6.42 MercerIntl MERC 3.3 dd 7.78 –0.93 .065
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

31.64 11.10 FifthThirdBncp FITB 6.7 7 16.12 –1.98 .27 3.10 0.53 Immutep IMMP ... dd 1.01 –0.01 ... 95.72 33.00 LGI Homes LGIH ... 9 71.35 +0.17 ... 96.29 52.24 MercurySystems MRCY ... 62 81.62 –9.03 ...
92.61 53.94 51job JOBS ... 55 59.82 –5.02 ... 13.40 3.05 GreenSky GSKY ... 9 3.65 –0.73 ... 40.24 11.47 Impinj PI ... dd 22.62 –2.11 ... 5.56 0.69 MereoBioPharma MREO ... dd 1.36 +0.14 ...
3.59 0.24 Gridsum GSUM ... dd .86 +0.13 ... 159.48 100.00 LHC Group LHCG ... 47 149.98 +15.19 ...
33.28 12.78 FinInstitutions FISI 7.2 6 14.37 –3.50 .26 104.81 62.48 Incyte INCY ... dd 96.12 +0.20 ... 36.63 13.31 LKQ LKQ ... 12 23.60 –2.68 ... 10.28 7.72 MeridaMergerCorp.I MCMJ ... ... 9.75 +0.12 ...
48.88 28.67 GriffinIndlRealty GRIF 1.3 49 37.82 –1.72 .50
co o

18.34 7.54 FireEye FEYE ... dd 11.33 –0.85 ... 87.11 50.45 IndependentBank INDB 3.3 12 56.28 –10.42 .46 99.60 32.01 LPL Financial LPLA 1.6 9 62.75 –3.39 .25 20.86 8.88 MeridianBancorp EBSB 3.2 8 9.97 –1.48 .08
41.34 17.32 FirstBancorpNC FBNC 3.4 7 21.26 –3.33 .18 25.73 13.40 Grifols GRFS 1.5 19 19.31 –0.44 .1642 18.58 5.51 MeridianBiosci VIVO ... 33 16.44 –1.05 ...
7.97 2.03 GrindrodShipping GRIN ... dd 2.24 –0.31 ... 23.93 9.19 IndepBankMI IBCP 6.8 6 11.82 –2.42 .20 7.30 2.50 LSI Inds LYTS 3.5 17 5.64 –0.47 .05
30.64 17.62 FirstBancorp FNLC 6.5 8 18.55 –2.60 .30 63.16 20.35 IndependentBank IBTX 3.7 6 27.07 –3.33 .25 15.90 8.95 LakeShoreBancorp LSBK 3.8 19 12.53 –0.45 .12 20.89 10.68 Meridian MRBK ... 10 16.48 –0.47 ...
35.88 15.27 FirstBancshares FBMS 2.3 7 17.68 –2.00 .10 12.96 5.42 GritstoneOncology GRTS ... dd 6.59 +0.13 ... 61.93 19.50 MeritMedical MMSI ... dd 39.62 –2.05 ...
47.57 27.75 GroceryOutlet GO ... cc 37.53 +0.82 ... 24.18 12.95 IndLogistics ILPT 8.3 21 15.89 –2.30 .33 17.63 8.31 LakelandBcp LBAI 5.2 7 9.62 –1.42 .125
11.82 6.00 FirstBank FRBA 1.8 11 6.80 –0.62 .03 3.75 0.48 Groupon GRPN ... dd 1.09 –0.08 ... 8.35 2.80 Infinera INFN ... dd 4.26 –1.81 ... 50.00 30.49 LakelandFin LKFN 3.3 11 36.45 –3.28 .30 7.09 1.49 MerrimackPharm MACK .0 dd 3.60 –0.27 1.4967
10.56
F

28.00 11.00 FirstBusey BUSE 5.8 9 15.26 –1.69 .22 67.07 20.55 GrAeroportuario OMAB 5.2 8 28.51 –2.98 1.6984 1.80 0.60 InfinityPharm INFI ... dd .99 –0.12 ... 28.00 9.70 LakelandInd LAKE ... 34 13.80 +0.69 ... 1.32 MersanaTherap MRSN ... dd 10.01 +0.20 ...
27.35 12.86 FirstBusFinSvcs FBIZ 4.8 6 13.80 –1.50 .165 34.16 20.02 GuarantyBcshrs GNTY 3.0 10 23.64 –1.79 .19 42.99 2.17 InflaRx IFRX ... dd 7.50 +0.17 ... 344.32 171.04 LamResearch LRCX 1.8 18 251.84 –13.56 1.15 20.95 10.19 Merus MRUS ... dd 14.61 –0.99 ...
542.12 276.08 FirstCitizBcshA FCNCA .5 9 330.87 –37.50 .40 26.93 12.70 GuarFedBcsh GFED 4.2 7 14.25 –1.30 .15 3.76 1.61 InfoSvcsGrp III ... 35 2.03 –0.60 ... 96.82 30.89 LamarAdv LAMR 6.8 16 59.20 –9.05 1.00 11.08 2.05 MesaAir MESA ... 4 3.13 –0.88 ...
34.37 18.06 FstCmntyBcsh FCBC 5.3 8 18.71 –3.35 .25 112.22 55.90 GuardantHealth GH ... dd 97.50 +9.35 ... 49.14 29.17 InglesMarkets IMKTA 1.5 9 43.37 –0.06 .165 166.31 114.55 LancasterColony LANC 1.9 29 145.44 –0.86 .70 271.46 181.21 MesaLab MLAB .3 cc 237.96 +3.76 .16
22.91 9.01 1stConstBncp FCCY 3.1 8 11.65 –1.17 .09 8.91 2.70 GulfIslandFab GIFI ... dd 2.82 –0.21 ... 58.76 13.06 InMode INMD ... 16 24.06 –1.82 ... 12.46 7.53 Landec LNDC ... dd 9.86 –0.87 ... 20.57 3.12 Mesoblast MESO ... dd 11.84 +0.45 ...
32.39 10.98 FirstDefiance FDEF 6.3 12 13.90 –2.52 .22 6.15 2.25 Gulf Resources GURE ... dd 4.35 –0.04 ... 8.24 3.30 InnatePharma IPHA ... dd 6.54 –1.21 ... 26.00 14.95 LandmarkBncp LARK 3.5 9 23.00 –2.16 .20 40.00 13.09 MetaFinancial CASH 1.3 5 15.62 –1.03 .05
26.19 10.83 FirstFinBncpOH FFBC 8.0 6 11.52 –2.96 .23 7.16 0.35 GulfportEnergy GPOR ... dd 1.62 –0.77 ... 5.81 0.87 InnerWorkings INWK ... dd 1.18 –0.25 ... 18.45 7.05 LandmarkInfrPtrs LMRK 8.9 ... 9.02 –0.80 .20 48.55 9.00 Methanex MEOH 1.1 22 13.98 –1.95 .0375
36.45 20.70 FirstFinBkshs FFIN 2.0 22 25.70 –1.61 .13 1.41 0.75 Innodata INOD ... dd 1.15 +0.14 ... 119.93 85.30 LandstarSystem LSTR .7 20 103.43 –3.80 .185 19.07 8.31 MetroCityBkshs MCBS 5.1 5 8.70 –0.75 .11
46.93 27.62 FirstFinIN THFF 3.3 8 31.33 –1.95 .52 107.85 56.71 Innospec IOSP 1.6 14 66.65 –6.85 .52 29.80 8.67 Lantheus LNTH ... 19 11.93 –0.97 ... 11.10 1.00 Michaels MIK ... 2 2.89 –0.28 ...
16.05
17.64
7.90
8.01
FirstFinNW
FirstFoundation
FFNW
FFWM
4.8
2.3
8
10
8.39
12.31
–0.90
–0.69
.10
.07
H 7.11 1.20 InnovSolSuprt ISSC ... 38 5.00 +0.76 ... 24.87 11.06 LatticeSemi LSCC ... 69 22.11 –1.35 ... 112.47
61.19
53.15
31.13
MicrochipTech
MicronTech
MCHP
MU
1.8
...
38
22
83.55
44.41
–6.15
–3.84
.3675
...
15.35 7.58 Innoviva INVA ... 8 13.94 +0.26 ... 21.66 7.30 LaureateEduc LAUR ... 7 8.51 –0.60 ...
22.38 11.29 FirstGuarBcshs FGBI 5.3 8 12.01 –1.22 .16 37.85 9.12 H&E Equipment HEES 8.1 14 13.50 –1.60 .275 76.89 31.21 Inogen INGN ... 60 37.64 –2.51 ... 58.28 24.52 LawsonProducts LAWS ... 18 30.00 –4.44 ... 190.70 119.01 Microsoft MSFT 1.1 30 183.16 –1.52 .51
31.25 13.56 FirstHawaiian FHB 7.4 7 13.98 –2.54 .26 20.71 9.11 HBT Finl HBT 5.5 ... 10.91 –0.53 .15 22.99 13.39 Inovalon INOV ... cc 16.08 –0.66 ... 3.18 0.57 LeapTherap LPTX ... dd 2.29 +0.12 ... 165.00 90.00 MicroStrategy MSTR ... 28 115.58 –9.09 ...
28.50 10.47 FirstInternetBncp INBK 1.8 5 13.17 –1.89 .06 43.93 21.69 HD Supply HDS ... 10 27.30 –2.26 ... 19.36 1.92 InovioPharma INO ... dd 13.43 +2.58 ... 17.50 8.50 LegacyHousing LEGH ... 10 11.79 +0.84 ... 1.82 0.15 MicroVision MVIS ... dd .84 +0.07 ...
43.83 24.50 FirstInterBanc FIBK 4.9 11 27.83 –4.25 .34 23.00 13.86 HMN Fin HMNF ... 9 14.24 –0.43 ... 15.15 3.61 Inseego INSG ... dd 9.76 –1.44 ... 38.64 18.76 LeMaitreVascular LMAT 1.6 28 24.30 –2.08 .095 29.88 15.50 MidPennBancorp MPB 4.0 9 17.89 –2.03 .18
42.48 21.18 FirstMerchants FRME 4.5 8 22.94 –3.72 .26 40.67 18.20 HMS Holdings HMSY ... 30 26.86 –1.52 ... 73.22 28.25 InsightEnt NSIT ... 11 45.20 –7.22 ... 434.94 135.72 LendingTree TREE ... cc 239.15 –5.23 ... 142.98 41.73 Middleby MIDD ... 9 60.59 –3.76 ...
36.25 18.60 FirstMidBcshs FMBH 3.5 9 23.17 –2.50 .40 14.37 5.80 Hookipa HOOK ... dd 9.45 –0.13 ... 34.94 12.09 Insmed INSM ... dd 25.46 +2.17 ... 26.69 13.45 LevelOneBncp LEVL 1.3 7 15.93 –2.82 .05 69.92 48.79 MiddlesexWater MSEX 1.7 29 60.22 –1.88 .2562
23.64 10.31 FirstMidwestBncp FMBI 5.1 7 10.97 –2.03 .14 18.90 9.50 HackettGroup HCKT 2.8 19 12.74 –1.38 .18 26.61 10.00 InsteelInds IIIN .8 55 15.17 –1.88 .03 6.72 1.13 LexiconPharm LXRX ... 3 1.88 –0.05 ... 29.50 12.49 MidlandStBncp MSBI 7.7 8 13.83 –2.27 .2675
18.25 8.77 FirstNWBncp FNWB 1.8 14 11.22 +0.27 .05 75.43 31.85 HailiangEduc HLG ... 27 45.27 –2.73 ... 228.79 101.22 Insulet PODD ... cc 203.98 –13.65 ... 16.93 6.98 LexinFintech LX ... 5 8.24 +0.55 ... 39.03 15.25 MidWestOneFin MOFG 5.4 8 16.39 –2.64 .22
n-

69.24 28.47 FirstSolar FSLR ... 98 39.37 –4.79 ... 31.92 17.94 HainCelestial HAIN ... dd 29.64 –0.09 ... 65.09 34.21 IntegraLifeSci IART ... cc 46.44 –5.81 ... 138.47 80.14 LibertyBroadbandA LBRDA ... cc 120.36 –4.27 ... 27.95 1.69 MilestonePharm MIST ... dd 3.16 –0.19 ...
53.42 26.07 1stSource SRCE 3.9 9 28.79 –4.08 .28 20.30 2.35 HallmarkFin HALL ... 2 2.74 –0.91 ... 69.29 42.86 Intel INTC 2.3 11 58.28 –1.39 .33 140.00 86.20 LibertyBroadbandC LBRDK ... cc 122.97 –4.14 ... 49.87 14.39 MillerHerman MLHR .0 6 20.62 –2.97 .21
24.99 11.00 FirstUnited FUNC 3.6 9 14.60 –0.35 .13 25.68 12.71 HalozymeTherap HALO ... dd 24.25 +0.64 ... 19.00 9.18 IntelliaTherap NTLA ... dd 17.66 +4.02 ... 28.62 15.24 LibertyGlobal A LBTYA ... cc 21.83 +0.09 ... 59.19 20.15 MillicomIntl TIGO 12.7 dd 20.86 –3.77 1.32
18.98 10.75 FirstWesternFin MYFW ... 13 12.70 –0.98 ... 74.01 36.27 HamiltonLane HLNE 1.7 36 63.14 –2.85 .275 10.54 1.91 Intellicheck IDN ... dd 6.73 –0.76 ... 58.31 15.98 LibertyGlobal B LBTYB ... cc 22.73 –10.30 ... 54.40 25.14 Mimecast MIME ... dd 36.74 –4.19 ...
106.80 60.04 FirstCash FCFS 1.6 19 68.13 –5.30 .27 44.42 14.32 HancockWhitney HWC 6.5 11 16.49 –3.83 .27 81.40 34.20 InterParfums IPAR .0 24 39.33 –5.13 .33 27.84 14.36 LibertyGlobal C LBTYK ... cc 21.36 –0.03 ... 2.64 1.45 Mind CTI MNDO 14.0 7 1.71 –0.04 .24
10.77 2.72 FirsthandTechVal SVVC ... dd 3.32 –0.13 ... 22.92 7.15 HanmiFinancial HAFC 6.1 12 7.81 –2.04 .12 58.50 33.70 InteractiveBrkrs IBKR 1.1 18 37.24 –3.89 .10 19.91 8.21 LibertyLatAmA LILA ... dd 9.08 –0.87 ... 13.66 4.01 MinervaNeurosci NERV ... dd 12.70 +1.21 ...
114.87 57.38 FirstService FSV .8 dd 81.23 –3.78 .165 11.20 6.45 HarborOneBncp HONE ... 20 7.55 –0.50 ... 125.00 47.57 InterceptPharm ICPT ... dd 84.61 –3.19 ... 19.95 8.02 LibertyLatAmC LILAK ... dd 8.88 –0.76 ... 132.59 66.01 MiratiTherap MRTX ... dd 103.37 +4.75 ...
125.05 73.50 Fiserv FISV ... 55 100.02 –4.76 ... 8.57 4.44 Harmonic HLIT ... dd 5.15 –0.63 ... 70.15 31.04 InterDigital IDCC 2.6 71 53.64 –6.13 .35 ... ... LibertyMediaRt LSXRV ... ... 5.86 ... ... 28.31 6.51 MirumPharm MIRM ... dd 17.23 +0.51 ...
no

137.97 47.53 FiveBelow FIVE ... 28 88.94 –1.56 ... 21.47 10.27 HarpoonTherap HARP ... dd 14.43 +0.91 ... 17.68 5.06 Interface TILE 3.5 dd 7.50 –1.53 .065 46.52 16.87 LibertyFormOne A FWONA ... dd 28.63 –0.61 ... 27.54 6.71 Misonix MSON ... dd 10.90 –0.66 ...
107.09 46.09 Five9 FIVN ... dd 106.21 +1.68 ... 3.50 1.39 HarvardBioSci HBIO ... dd 2.58 –0.19 ... 44.00 15.60 IntlBcshs IBOC 4.2 9 26.38 –2.65 .55 48.95 18.31 LibertyFormOne C FWONK ... dd 30.19 –0.52 ... 4.42 0.70 MitchamIndustries MIND ... dd .76 –0.17 ...
9.49 1.75 FivePrimeTherap FPRX ... dd 4.03 –0.09 ... 126.87 41.33 Hasbro HAS 4.2 20 64.80 –4.90 .68 31.46 5.97 IntersectENT XENT ... dd 11.31 –2.18 ... 30.16 13.59 LibertyBraves A BATRA ... dd 19.26 –2.24 ... 45.75 18.41 MobileMini MINI 4.4 17 27.75 –1.53 .303
14.00 5.36 Flex FLEX ... 54 9.29 –0.72 ... 31.34 7.55 HawaiianHoldings HA .0 13 11.16 –1.75 .12 7.68 3.17 Intevac IVAC ... 53 5.07 –0.32 ... 30.03 13.20 LibertyBraves C BATRK ... dd 18.69 –2.41 ... 7.79 2.94 MobileIron MOBL ... dd 4.41 –0.43 ...
22.98 5.01 FlexionTherap FLXN ... dd 8.54 –0.96 ... 47.94 26.82 Hawkins HWKN 2.8 13 33.73 –2.76 .2325 43.56 6.75 Intra-Cellular ITCI ... dd 22.09 +1.76 ... 51.11 22.54 LibertySirius A LSXMA ... 21 31.80 –1.38 ... 68.49 11.54 Moderna MRNA ... dd 66.69 +7.44 ...
21.31 7.81 Flexsteel FLXS 10.3 dd 8.53 –0.38 .22 27.75 13.45 HawthornBcsh HWBK 3.0 8 16.04 –0.96 .12 28.31 9.84 Intricon IIN ... dd 11.42 –0.82 ... 50.89 24.49 LibertySirius B LSXMB ... 21 32.75 –2.27 ... 35.13 9.51 MomentaPharm MNTA ... dd 31.09 –1.67 ...
59.44 23.85 FlirSystems FLIR 1.5 48 44.24 –3.86 .17 39.04 17.61 HaynesIntl HAYN 4.0 16 22.05 –0.77 .22 306.89 187.68 Intuit INTU .7 46 284.39 +4.03 .53 51.36 23.01 LibertySirius C LSXMK ... 20 31.44 –1.45 ... 40.87 19.23 Momo MOMO .0 11 20.73 –1.76 .76
6.12 1.02 Fluent FLNT ... dd 1.66 –0.55 ... 27.62 12.25 Headhunter HHR 4.4 38 16.75 –0.15 .50 619.00 360.50 IntuitiveSurgical ISRG ... 45 520.41 –17.36 ... 134.00 2.10 LibertyTripAdvB LTRPB ... dd 30.02 –4.98 ... 57.57 12.83 MonarchCasino MCRI ... 21 30.34 –3.55 ...
14.30 1.17 Fluidigm FLDM ... dd 4.81 +0.59 ... 49.85 17.48 HealthCatalyst HCAT ... dd 28.67 +0.83 ... 26.46 8.49 Investar ISTR 2.2 8 10.97 –1.43 .06 12.88 0.86 LibertyTripAdvA LTRPA ... dd 1.58 –0.25 ... 59.96 41.19 Mondelez MDLZ 2.3 20 49.96 –0.94 .285
22.97 8.86 FlushingFin FFIC 8.7 8 9.69 –2.01 .21 10.20 3.26 LifetimeBrands LCUT 4.1 dd 4.17 –0.75 .0425 6.70 1.15 MoneyGram MGI ... dd 1.60 –0.02 ...
34.96 12.17 FocusFinPtrs FOCS ... cc 22.50 –2.25 ... 4.75 1.43 LifewayFoods LWAY ... 85 2.47 –0.16 ... 199.25 93.81 MongoDB MDB ... dd 196.28 +19.79 ...
40.06 20.66 ForescoutTechs FSCT ... dd 29.52 –2.70 ... 122.08 57.24 LigandPharm LGND ... dd 98.75 –4.29 ... 219.58 114.84 MonolithicPower MPWR 1.0 75 193.01 –18.26 .50
28.58 14.20 FormFactor FORM ... 36 23.24 –2.04 ... 7.00 2.20 LimelightNetworks LLNW ... dd 5.17 +0.06 ... 89.62 37.09 Monro MNRO 1.7 22 51.27 –3.11 .22
75.23
50.51
36.75
22.45
FormulaSys
ForresterResearch
FORTY
FORR
1.0
...
28
cc
67.70
28.96
+3.31
–5.44
.3245
...
NOTICE TO READERS: 38.74
21.94
5.25
10.60
LiminalBioSci
Limoneira
LMNL
LMNR
...
2.5
dd
dd
7.75
12.06
–0.38
–1.41
...
.075
70.52
166.59
50.06
102.59
MonsterBev
Morningstar
MNST
MORN
...
.8
32
44
66.01
145.10
+0.23
+1.98
...
.30
15.42
144.03
3.45
68.87
Forterra
Fortinet
FRTA
FTNT
...
...
cc
67
7.85
143.43
–0.57
+6.59
...
...
Sign up for the Weekly Market Lab Newsletter: barrons.com/newsletters 2.99
98.32
1.51
59.30
LincolnEduc
LincolnElectric
LINC
LECO
...
2.7
12
16
2.80
73.09
+0.30
–5.60
...
.49
33.50
37.96
9.90
18.21
Morphic
MorphoSys
MORF
MOR
...
...
dd
dd
15.64
32.46
+0.10
+2.05
...
...
72.09 39.59 ForwardAir FWRD 1.7 16 42.86 –5.58 .18 8.34 3.01 LiquiditySvcs LQDT ... dd 4.96 +0.17 ... 24.60 10.43 MotorcarParts MPAA ... dd 13.79 –0.36 ...
14.12 2.73 Fossil FOSL ... dd 2.88 –0.68 ... 196.00 103.63 Littelfuse LFUS 1.4 27 139.57 –7.07 .48 4.85 1.78 MustangBio MBIO ... dd 2.74 –0.05 ...
27.80
39.74
7.96
19.81
FosterLB
FoxA
FSTR
FOXA
...
1.8
3
12
10.84
26.06
–1.19
+0.06
...
.23
Please visit the new Market Lab home page on barrons.com under Data. 87.45
20.46
33.40
7.57
LivaNova
LiveOakBcshs
LIVN
LOB
...
1.0
dd
63
47.66
12.08
–3.87
–1.50
...
.03
23.11
122.49
12.75
42.65
Mylan
MyoKardia
MYL
MYOK
...
...
cc
dd
15.16
121.69
–2.41
+60.60
...
...
38.84
86.91
19.13
34.58
FoxB
FoxFactory
FOX
FOXF
1.8
...
12
26
25.50
56.10
–0.23
–0.67
.23
...
www.barrons.com/market-data/market-lab 45.21
63.55
14.08
15.12
LivePerson
LivongoHealth
LPSN
LVGO
...
...
dd
dd
37.96
59.32
+4.86
+5.36
...
...
48.40
34.91
9.24
13.33
MyriadGenetics
Napco Security
MYGN
NSSC
...
...
dd
27
14.73
22.00
+0.11
–0.99
...
...
21.95 1.70 Francesca's FRAN ... dd 2.50 +0.07 ... 15.25 4.17 Lizhi LIZI ... ... 4.54 –0.26 ... 41.50 26.32 NBT Bancorp NBTB 3.9 12 27.54 –4.02 .27
May 18, 2020 BARRON’S M19

Nasdaq Issues
52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
3.96 0.31 NCS Multistage NCSM ... dd .46 –0.10 ... 6.76 2.04 OxfordSquare OXSQ 35.7 dd 2.25 –0.29 .067 21.90 10.61 RBB Bancorp RBB 2.1 7 11.46 –1.51 .06 2.60 0.37 SesenBio SESN ... dd .68 –0.13 ... 1.09 0.19 Teligent TLGT ... dd .45 –0.03 ...
23.39 8.81 NGM Biopharm NGM ... dd 22.08 +0.47 ... 41.37 13.26 OysterPtPharma OYST ... ... 29.50 –4.32 ... 185.06 77.63 RBC Bearings ROLL ... 22 110.20 –12.22 ... 59.93 29.61 ShenandoahTel SHEN .6 43 46.90 –1.84 .29 108.36 45.11 10xGenomics TXG ... dd 77.95 –5.01 ...
183.42 110.59 NICE NICE ... 60 172.21 –4.29 ... 27.79 6.52 RCI Hospitality RICK 1.7 11 9.31 –2.66 .04 6.41 0.75 ShilohIndustries SHLO ... dd .82 –0.12 ... 32.01 16.28 Tenable TENB ... dd 29.05 +0.81 ...
.10
25.80
35.79
15.48
8.06
NIC
NMI Holdings
EGOV
NMIH
1.6
...
30
5
22.42
12.63
–1.26
–1.82
.09
... PQR 4.17
55.23
1.02
20.03
RCM Tech
REGENXBIO
RCMT
RGNX
...
...
dd
dd
1.16
38.30
–0.36
–0.68
...
...
68.39
40.00
22.01
12.56
ShockwaveMed
ShoeCarnival
SWAV
SCVL
...
1.6
dd
7
42.31
21.22
+1.49
–3.03
...
.085
81.57
21.58
40.92
11.40
Teradyne
TerraFormPower
TER
TERP
.7
4.6
19
dd
56.89
17.57
–8.20
–0.78 .2014
10.15 1.35 NN NNBR .0 dd 3.02 +0.27 .07 8.89 3.31 RF Industries RFIL 1.5 18 5.28 –0.28 .02 17.90 7.63 ShoreBancshares SHBI 5.3 7 8.71 –0.77 .12 32.45 20.25 TerritBanc TBNK 4.0 11 22.90 –2.43 .23
139.59 58.41 NXP Semi NXPI 1.7 cc 90.45 –14.39 .375 71.56 22.00 PAM Transport PTSI ... dd 30.70 –7.74 ... 31.98 23.15 RGC Resources RGCO 2.9 17 24.14 –0.27 .175 9.71 1.00 Sientra SIEN ... dd 2.78 +0.38 ... 968.99 176.99 Tesla TSLA ... dd 799.17 –20.25 ...
2.77 0.49 NabrivaTherap NBRV ... dd .55 –0.06 ... 8.75 3.75 P&FIndustries PFIN 4.6 3 4.36 –0.03 .05 9.85 3.01 RISE Education REDU ... 8 3.06 –0.94 ... 30.15 13.05 SierraBancorp BSRR 4.9 7 16.36 –2.27 .20 19.64 4.12 TesscoTech TESS .0 dd 4.36 –1.83 .02
36.43 13.85 NanoStringTech NSTG ... dd 31.14 +0.24 ... 17.75 7.31 PCB Bancorp PCB 4.6 7 8.79 –0.58 .10 13.99 7.12 R1RCM RCM ... dd 9.47 –0.31 ... 58.80 8.55 SierraOncology SRRA ... dd 12.10 +0.03 ... 99.34 63.61 TetraTech TTEK 1.0 27 70.09 –1.98 .17
3.25 0.45 NantHealth NH ... dd 2.11 –0.55 ... 56.33 30.10 PCConnection CNXN .0 12 38.37 –2.80 .32 5.40 1.46 RTI Surgical RTIX ... dd 2.14 –0.15 ... 13.41 4.31 SierraWireless SWIR ... dd 7.92 –0.58 ... 20.60 0.56 TetraphasePharm TTPH ... dd 2.19 +0.17 ...
9.90 0.95 NantKwest NK ... dd 4.36 +0.13 ... 9.65 3.95 PC-Tel PCTI 3.4 35 6.46 +0.36 .055 29.97 10.32 RadiusHealth RDUS ... dd 13.45 –1.12 ... 148.64 68.98 SignatureBank SBNY 2.5 9 90.13 –12.92 .56 64.88 19.10 TexasCapBcshs TCBI ... 6 24.12 –3.70 ...
120.23 71.66 Nasdaq NDAQ 1.7 26 112.08 +4.49 .49 37.38 4.51 PDC Energy PDCE ... dd 11.13 –1.14 ... 23.45 5.81 RadNet RDNT ... cc 14.96 +0.53 ... 35.94 24.65 SilganHoldings SLGN 1.5 18 32.83 –0.95 .12 135.70 93.09 TexasInstruments TXN 3.3 21 108.24 –6.76 .90
49.22 16.87 Natera NTRA ... dd 45.23 +1.66 ... 18.41 8.61 PDF Solutions PDFS ... dd 15.64 –1.15 ... 26.98 16.02 Radware RDWR ... 49 22.96 –0.73 ... 37.60 20.93 Silicom SILC ... 30 31.99 –2.19 ... 72.49 25.15 TexasRoadhouse TXRH .0 23 45.48 –2.10 .36
82.18 39.01 Nathan's NATH 2.7 17 52.00 –6.01 .35 3.26 1.71 PDL Biopharm PDLI ... dd 3.18 +0.30 ... 6.95 1.75 RamacoRscs METC ... 4 2.06 +0.01 ... 122.90 65.09 SiliconLab SLAB ... cc 90.53 –9.71 ... 13.73 3.36 TheBancorp TBBK ... 7 5.86 –1.32 ...
58.10 35.71 NationalBeverage FIZZ ... 21 52.58 +0.60 ... 14.85 7.31 PDLCommBncp PDLB ... dd 7.66 –0.99 ... 16.98 9.01 Rambus RMBS ... dd 14.40 –0.84 ... 53.04 26.72 SiliconMotion SIMO 3.1 23 42.88 –1.21 .35 4.32 0.85 TherapeuticsMD TXMD ... dd 1.17 –0.10 ...
9.85 1.62 NatlCineMedia NCMI 10.7 6 2.61 –0.58 .07 11.70 6.41 PICO PICO ... 48 7.32 –1.06 ... 18.34 7.92 RandolphBancorp RNDB ... 19 9.32 –0.68 ... 51.50 20.84 SilkRoadMed SILK ... dd 39.16 +0.51 ... 31.54 15.18 TheravanceBio TBPH ... dd 27.41 –0.67 ...

.
25.39 11.82 NatlGeneral NGHC 1.2 6 17.31 –1.80 .05 33.23 10.61 PPD PPD ... ... 27.51 +0.07 ... 66.01 31.34 Rapid7 RPD ... dd 46.72 –2.06 ... 14.83 6.21 SilvercrestAsset SAMG 6.8 7 9.45 –1.15 .16 14.50 3.31 36Kr KRKR ... dd 3.86 –0.59 ...
47.89 20.42 NatlInstruments NATI 2.9 18 36.24 –1.79 .26 39.58 19.40 PRA Group PRAA ... 16 32.27 –2.12 ... 20.24 2.90 RattlerMidstrm RTLR 14.6 9 7.95 +0.15 .29 27.29 13.75 SimmonsFirstNat SFNC 4.6 6 14.74 –2.50 .17 19.00 6.37 360Finance QFIN ... 4 9.32 +0.82 ...
71.35 34.00 NatlResearch NRC 1.7 36 50.00 –7.40 .21 113.10 58.67 PRA HealthSci PRAH ... 25 91.99 +1.45 ... 38.00 16.01 RavenIndustries RAVN 2.7 20 19.35 –2.50 .13 59.58 10.58 SinclairBroadcast SBGI 5.1 10 15.58 –0.87 .20 51.03 2.43 Tilray TLRY ... dd 7.77 –0.01 ...

ly
39.88 11.70 NationalVision EYE ... 80 24.41 –2.00 ... 7.37 1.77 PRGX Global PRGX ... dd 3.75 +0.09 ... 2.10 0.32 RealNetworks RNWK ... dd 1.04 +0.15 ... 15.05 5.06 SiriusIntlIns SG ... dd 6.75 –0.73 ... 31.00 13.60 TimberlandBncp TSBK 4.8 6 16.67 –1.08 .20
298.00 120.55 NatlWesternLife NWLI .2 7 174.36 –3.34 .36 93.34 43.90 PTC PTC ... cc 65.00 –6.55 ... 67.25 36.91 RealPage RP ... cc 64.23 –2.00 ... 7.40 4.11 SiriusXM SIRI 1.0 23 5.34 –0.41 .0133 21.88 6.96 TitanMachinery TITN ... 14 8.62 –0.63 ...
13.05 4.75 NaturalAlt NAII ... 18 5.93 –0.46 ... 59.89 30.79 PTC Therap PTCT ... dd 48.83 +4.33 ... 30.05 5.00 RealReal REAL ... dd 12.51 –1.41 ... 36.46 15.42 SiTime SITM ... ... 25.08 –0.79 ... 26.07 1.92 TivityHealth TVTY ... dd 8.65 –1.60 ...
34.89 18.91 NatusMedical NTUS ... 59 21.40 –1.68 ... 83.41 49.11 Paccar PCAR 1.9 11 66.83 –2.79 .32 257.96 70.00 ReataPharm RETA ... dd 154.77 –7.46 ... 66.52 10.58 SkyWest SKYW 2.3 4 24.04 –5.41 .14 9.05 4.16 TiVo TIVO .0 dd 6.48 –0.64 .08
15.67 4.07 Navient NAVI 9.6 4 6.68 –1.09 .16 7.36 2.20 PacBiosciCA PACB ... dd 3.48 +0.09 ... 59.00 29.90 RedRiverBcshs RRBI .6 11 37.98 –0.12 .06 128.48 66.29 Skyworks SWKS 1.7 23 106.22 –5.00 .44 7.70 1.54 TizianaLifeSci TLSA ... ... 5.59 +2.01 ...
36.85 13.63 NektarTherap NKTR ... dd 22.02 +1.25 ... 8.49 2.95 PacificMercBncp PMBC ... 31 3.22 –0.74 ... 37.29 4.04 RedRobin RRGB ... dd 12.87 –1.42 ... 61.00 15.27 SleepNumber SNBR ... 9 29.76 –1.97 ... 9.27 0.42 Tocagen TOCA ... dd 1.18 +0.11 ...

on
79.83 48.91 Neogen NEOG ... 58 64.56 –1.94 ... 34.90 13.93 PacificPremBncp PPBI 5.9 7 16.90 –3.84 .25 27.91 2.76 RedRockResorts RRR 4.3 dd 9.20 –1.36 .10 3.93 0.55 SmartSand SND ... 1 .77 –0.03 ... 24.90 0.39 TonixPharm TNXP ... dd .69 –0.02 ...
14.82 2.19 NeoleukinTherap NLTX ... dd 13.24 –1.04 ... 51.35 27.46 PaciraBioSci PCRX ... dd 41.46 –0.61 ... 32.77 9.63 Redfin RDFN ... dd 24.24 –0.26 ... 21.10 3.64 SmileDirectClub SDC ... dd 6.86 –1.16 ... 48.86 6.80 Torm TRMD 1.3 3 7.55 –0.41 .10
2.15 0.60 NeosTherap NEOS ... dd .71 –0.11 ... 40.14 13.84 PacWestBancorp PACW 6.4 dd 15.55 –3.93 .25 9.12 3.26 RedHillBio RDHL ... dd 6.72 –0.18 ... 17.18 8.03 SoYoungIntl SY ... 62 10.98 +0.52 ... 25.80 12.13 TowerSemi TSEM ... 25 18.99 –1.11 ...
4.45 2.70 Net1UEPS UEPS ... dd 3.21 –0.35 ... 65.55 20.14 Palomar PLMR ... 38 57.85 –1.95 ... 70.26 31.80 RegencyCtrs REG 6.5 50 36.81 –5.15 .595 17.02 5.41 Sohu.com SOHU ... dd 7.98 ... ... 3.44 0.30 TownSports CLUB ... dd .40 –0.06 ...
70.37 34.66 NetApp NTAP 4.5 10 42.38 –2.52 .48 26.20 10.26 PanAmerSilver PAAS .8 cc 24.50 +2.14 .05 581.78 271.37 RegenPharm REGN ... 29 576.72 +13.32 ... 21.00 5.00 SolGelTech SLGL ... dd 7.45 –1.29 ... 29.02 15.03 TowneBank TOWN 4.4 9 16.34 –2.09 .18
375.98 209.01 Netease NTES 1.8 16 374.41 +14.64 1.0175 84.25 28.55 PapaJohn's PZZA 1.1 cc 81.90 +0.70 .225 36.94 18.22 Renasant RNST 4.3 10 20.46 –3.46 .22 21.35 7.42 SolarCapital SLRC 11.1 dd 14.81 –0.26 .41 114.25 63.89 TractorSupply TSCO 1.3 24 111.72 +4.51 .35
455.00 252.28 Netflix NFLX ... 92 454.19 +18.64 ... 5.89 2.50 ParatekPharma PRTK ... dd 4.31 –0.34 ... 31.51 9.90 RenewableEnergy REGI ... 2 24.02 –0.58 ... 18.29 6.30 SolarSeniorCap SUNS 10.4 dd 11.57 –0.56 .10 327.35 136.00 TradeDesk TTD ... cc 300.01 –15.49 ...
36.87 15.01 Netgear NTGR ... 90 23.75 –0.27 ... 36.24 10.78 Park-Ohio PKOH .0 5 12.60 –1.88 .125 31.14 11.69 Rent-A-Center RCII 4.8 6 24.01 +0.23 .29 143.73 52.03 SolarEdgeTech SEDG ... 36 120.44 +2.12 ... 61.60 33.23 Tradeweb TW .5 78 60.81 +2.63 .08
29.62 19.11 NetScout NTCT ... dd 23.53 –2.71 ... 6.46 2.90 PartnerComms PTNR ... cc 4.26 +0.04 ... 142.39 65.63 Repligen RGEN ... cc 140.48 +17.63 ... 13.58 1.96 SolidBiosci SLDB ... dd 2.85 +0.34 ... 13.59 2.87 TransActTechs TACT .0 dd 3.45 –0.80 .09

us ,
119.65 72.14 Neurocrine NBIX ... 63 116.50 +7.10 ... 23.25 8.09 PassageBio PASG ... ... 21.32 +1.00 ... 21.50 8.58 Replimune REPL ... dd 20.27 +1.26 ... 18.26 0.50 SonimTech SONM ... dd .78 –0.23 ... 34.18 16.50 Transcat TRNS ... 24 26.40 –1.87 ...
15.43 1.25 Neuronetics STIM ... dd 2.08 –0.22 ... 64.38 16.70 PatrickIndustries PATK 2.3 11 43.14 –1.95 .25 52.68 27.05 RepublicBcpKYA RBCAA 4.0 7 28.92 –3.00 .286 16.88 6.58 Sonos SONO ... dd 9.08 –1.40 ... 1.76 0.30 TransGlobeEner TGA .0 dd .50 –0.05 .035

l
19.50 7.01 NewFortressEner NFE ... dd 12.89 –0.40 ... 21.26 8.30 PatriotTransport PATI 7.1 dd 8.46 –0.38 3.00 5.20 1.80 RepublicFirstBncp FRBK ... dd 2.19 –0.24 ... 7.69 1.43 SotherlyHotels SOHO .0 dd 1.61 –0.22 .13 16.37 6.80 TranslateBio TBIO ... dd 16.09 +1.59 ...
6.47 0.98 NY Mortgage NYMT .0 3 1.66 –0.34 .20 25.70 12.93 Patterson PDCO 7.0 30 14.88 –1.47 .26 17.93 8.66 ResourcesConnect RGP 5.5 10 10.11 –0.77 .14 22.00 11.30 SouthPlainsFin SPFI 1.0 7 11.95 –0.98 .03 31.54 10.10 TransMedics TMDX ... dd 14.44 –2.14 ...

e
al a
20.99 10.44 NewellBrands NWL 7.9 dd 11.70 –0.71 .23 12.99 1.61 PattersonUTIEn PTEN 2.4 dd 3.27 –0.09 .02 11.96 0.86 resTORbio TORC ... dd 1.94 +0.03 ... 88.10 40.42 SouthState SSB 4.2 9 43.36 –9.23 .47 19.64 5.51 TravelCenters TA ... 3 9.29 –0.05 ...
13.85 2.49 Newmark NMRK 1.1 7 3.57 –0.61 .01 90.54 47.87 Paychex PAYX 3.9 21 63.43 –3.68 .62 19.18 5.84 RetailOppor ROIC 9.5 21 8.40 –0.99 .20 44.43 20.89 SouthernFirstBcsh SFST ... 8 24.84 –3.51 ... 20.23 3.04 Travelzoo TZOO ... 14 4.51 –0.48 ...
15.07 7.90 NewsCorp A NWSA 1.8 dd 10.87 –0.06 .10 150.73 66.98 Paylocity PCTY ... 91 113.59 –3.83 ... 21.95 8.98 Retrophin RTRX ... dd 15.43 +0.13 ... 39.05 17.30 SoMO Bancorp SMBC 2.9 7 20.91 –2.14 .15 6.86 1.63 TremontMortgage TRMT 2.1 2 1.88 –0.14 .01
15.36 7.88 NewsCorp B NWS 1.8 dd 11.01 –0.24 .10 147.20 82.07 PayPal PYPL ... 92 145.51 +0.55 ... 27.97 9.88 RevanceTherap RVNC ... dd 19.30 –0.79 ... 16.85 7.58 SoNtlBcpVA SONA 4.7 8 8.47 –1.47 .10 10.62 1.33 TreviTherap TRVI ... dd 2.81 +0.16 ...
23.99 7.59 NewtekBusSvcs NEWT 14.7 ... 14.86 +0.01 .44 31.72 11.15 PeapackGladFinl PGC 1.3 8 15.40 –2.64 .05 47.14 17.35 RevolutionMed RVMD ... ... 33.94 –3.30 ... 37.89 23.74 SouthsideBcshs SBSI 4.8 15 26.03 –3.18 .31 13.86 4.91 TribunePub TPCO .0 dd 9.14 –0.46 .25

ci on
133.25 43.37 NexstarMedia NXST 3.1 10 72.88 –5.46 .56 103.13 38.01 Pegasystems PEGA .1 dd 86.16 –3.84 .03 35.50 21.61 ReynoldsCnsmr REYN 1.7 27 34.47 +0.90 .15 11.71 5.25 SparkEnergy SPKE 11.2 31 6.47 –0.51 .1813 44.30 18.02 Tricida TCDA ... dd 30.98 +0.98 ...
109.00 13.86 NextCure NXTC ... dd 35.48 –2.50 ... 49.68 17.70 Peloton PTON ... dd 48.42 +5.42 ... 29.13 12.99 RhythmPharm RYTM ... dd 18.51 –1.02 ... 20.70 8.45 SpartanMotors SPAR .6 dd 15.99 –0.81 .05 41.42 23.05 TriCoBancshares TCBK 3.6 9 24.46 –4.15 .22
21.12 5.10 NextGenHlthcr NXGN ... 38 9.20 –0.91 ... 39.18 3.75 PennNational PENN ... dd 19.35 +0.92 ... 5.93 1.95 RibbonComms RBBN ... dd 3.28 –0.41 ... 19.48 8.82 SpartanNash SPTN 4.3 cc 17.77 –0.05 .1925 33.07 18.05 TriMas TRS ... 10 19.87 –3.13 ...
9.90 4.76 NicholasFin NICK ... dd 5.60 +0.18 ... 39.24 0.99 PennVirginia PVAC ... 0 6.25 –0.32 ... 6.32 3.10 RichardsonElec RELL 6.1 dd 3.95 –0.12 .06 10.57 1.74 SpectrumPharm SPPI ... dd 3.19 +0.48 ... 46.67 20.01 Trimble TRMB ... 17 35.40 –1.60 ...
14.88 5.21 9F JFU ... 10 5.90 –0.15 ... 35.99 6.15 Pennant PNTG ... cc 21.60 +2.51 ... 3.10 1.23 RigelPharm RIGL ... dd 1.77 –0.04 ... 14.38 5.25 SperoTherap SPRO ... dd 11.93 +0.15 ... 2.69 0.56 TrinityBiotech TRIB ... dd 1.50 –0.05 ...
10.10 5.33 NiuTech NIU ... cc 9.06 +0.12 ... 6.86 1.76 PennantPark PNNT 26.4 dd 2.73 –0.30 .18 11.34 0.77 RigNet RNET ... dd .84 –0.25 ... 23.48 8.96 SpiritofTexas STXB ... 8 10.29 –0.55 ... 40.91 20.10 Trip.com TCOM ... 15 24.00 –1.12 ...
23.72 9.04 nLIGHT LASR ... dd 21.38 +0.11 ... 36.27 18.72 PennsWoodsBncp PWOD 6.1 10 20.84 –2.48 .32 5.48 2.22 RiminiStreet RMNI ... dd 4.12 –0.37 ... 176.31 93.92 Splunk SPLK ... dd 156.19 +2.95 ... 48.47 13.73 TripAdvisor TRIP .0 27 15.66 –2.25 3.50
27.31 2.73 NobleEnergy NBL .9 dd 8.67 –1.36 .02 17.22 9.37 People'sUtdFin PBCT 6.7 8 10.68 –1.38 .18 8.70 4.05 RiverviewBncp RVSB 4.1 7 4.82 –0.47 .05 17.25 8.53 SpokHoldings SPOK 4.9 dd 10.22 –1.00 .125 26.43 7.59 TriStateCapital TSC ... 7 12.40 –1.31 ...
34.50 1.81 NobleMidstream NBLX 32.1 3 6.82 +0.57 .1875 39.28 17.91 PeoplesBncpOH PEBO 6.9 11 19.64 –2.89 .34 13.60 4.00 RiverviewFinl RIVE 5.1 10 5.86 –0.90 .075 8.90 3.41 SportsmansWrhs SPWH ... 17 8.08 +0.41 ... 43.15 19.03 TriumphBancorp TBK ... 14 21.18 –4.79 ...
9.06 3.14 Noodles NDLS ... dd 4.43 –0.45 ... 34.32 13.30 PeoplesBncpNC PEBK 4.1 7 14.50 –3.20 .15 27.59 9.01 RocketPharm RCKT ... dd 19.84 +2.23 ... 43.90 17.02 SpringWorks SWTX ... ... 37.41 +5.47 ... 5.38 1.30 trivago TRVG ... 24 1.45 –0.27 ...

er s
180.28 96.46 Nordson NDSN .9 28 162.47 –3.85 .38 53.88 29.01 PeoplesFinSvcs PFIS 4.1 10 34.70 –0.50 .36 5.10 1.31 RockwellMedical RMTI ... dd 2.03 –0.30 ... 26.84 13.00 SproutsFarmersMkt SFM ... 16 24.86 –0.32 ... 6.64 1.98 TrueCar TRUE ... dd 2.37 –0.39 ...
27.58 6.20 NortheastBank NBN .3 13 15.01 –1.23 .01 147.20 101.42 PepsiCo PEP 3.0 26 135.95 +1.72 1.0225 34.14 14.96 RockyBrands RCKY 3.0 9 18.62 –0.57 .14 42.73 22.84 StaarSurgical STAA ... cc 37.86 –0.16 ... 38.06 20.84 Trupanion TRUP ... dd 27.69 –2.25 ...
6.49 2.34 Perceptron PRCP ... dd 2.56 –0.59 ... 3.77 221.73 9.10 4.30 TrustcoBank TRST 5.0 9 5.43 –0.54 .0681
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

14.88 4.70 NorthernTechsIntl NTIC .0 23 7.29 –0.91 .065 9.75 RockyMtnChoc RMCF 12.0 12 3.99 –0.93 .12 32.54 Stamps.com STMP ... 58 195.21 –7.66 ...
110.48 60.67 NorthernTrust NTRS 3.9 11 71.13 –4.86 .70 22.50 7.11 PerdoceoEduc PRDO ... 14 14.76 +0.02 ... 176.55 58.22 Roku ROKU ... dd 112.93 –13.73 ... 12.09 3.86 StarBulkCarriers SBLK 4.5 dd 4.40 –0.56 .05 36.04 20.26 Trustmark TRMK 4.3 10 21.25 –3.60 .23
1.92 0.25 TuesdayMorning TUES ... dd .31 +0.01 ...
17.55
42.28
9.38
17.32
NorthfieldBanc
NorthrimBanCorp
NFBK
NRIM
4.4
6.5
13
8
9.90
19.99
–1.47
–2.74
.11
.34
53.76
1.73
18.88
0.60
m er
Perficient
PerformantFin
PRFT
PFMT
...
...
26
dd
31.42
.70
–4.25
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...
...
124.16
138.78
56.30
59.78
RossStores
RoyalGold
ROST
RGLD
1.3
.8
19
50
85.31
134.00
–6.15
–2.43
.285
.28
99.72
36.45
50.02
17.29
Starbucks
StateAutoFin
SBUX
STFC
2.2
2.1
26
dd
74.16
19.14
–3.71
–2.59
.41
.10 4.12
67.54
0.73
31.00
Tuniu
TurningPtTherap
TOUR
TPTX
...
...
dd
dd
.78
64.21
...
+10.83
...
...
17.74 8.52 NorthwestBcshs NWBI 8.4 10 9.03 –1.83 .19 9.70 2.76 PerionNetwork PERI ... 9 4.44 –0.48 ... 17.17 3.35 RubiusTherap RUBY ... dd 5.60 –0.62 ... 14.41 0.90 StealthBioTher MITO ... dd 1.89 +0.20 ...
36.70 18.04 NorthwestPipe NWPX ... 8 20.28 –2.24 ... 10.14 5.00 Perma-PipeIntl PPIH ... 13 5.59 –0.16 ... 9.60 2.49 RuhnnHolding RUHN ... dd 2.87 –0.23 ... 4.18 1.51 StealthGas GASS ... 45 2.37 –0.16 ... 12.50 4.05 TurtleBeach HEAR ... 15 9.74 +0.34 ...
28.70 15.12 NortonLifeLock NLOK 2.5 3 20.02 –1.25 .125 31.88 4.27 Personalis PSNL ... dd 11.22 +0.28 ... 49.27 27.25 RushEnt A RUSHA 1.5 10 35.75 –2.62 .13 1.95 0.40 SteelConnect STCN ... dd .47 –0.15 ... 17.37 6.31 21 Vianet VNET ... dd 16.95 –0.05 ...
39.69 21.20 NorwoodFin NWFL 4.3 10 23.01 –2.29 .25 36.33 15.83 PetIQ PETQ ... dd 25.71 –1.04 ... 48.50 21.65 RushEnt B RUSHB 1.7 9 31.39 –3.24 .13 35.78 14.98 SteelDynamics STLD 4.4 8 22.52 –2.85 .25 15.62 5.00 TwinDisc TWIN ... dd 5.74 –0.73 ...
43.80 24.79 NovaMeasuring NVMI ... 35 43.02 +1.25 ... 41.59 15.00 PetMedExpress PETS 3.3 26 33.64 –3.38 .28 25.78 2.32 RuthsHospitality RUTH .0 10 8.08 –1.53 .15 67.94 38.45 Stericycle SRCL ... dd 48.00 –4.36 ... 40.39 18.52 TwistBiosci TWST ... dd 40.04 +0.91 ...
3.72 0.22 Novan NOVN ... dd .37 –0.01 ... 14.08 2.60 PhaseBioPharm PHAS ... dd 4.25 –0.56 ... 96.79 44.44 Ryanair RYAAY ... 10 49.75 –8.49 ... 17.49 6.72 SterlingCnstr STRL ... 5 7.71 –1.27 ... 41.88 11.37 2U TWOU ... dd 34.39 +4.11 ...
m rp
99.79 66.44 Novanta NOVT ... 80 91.28 +3.98 ... 47.94 18.51 PhathomPharm PHAT ... ... 38.55 –0.24 ... 44.80 16.38 StevenMadden SHOO 3.0 12 20.23 –3.77 .15
46.00
98.84
3.54
48.57
Novavax
Novocure
NVAX
NVCR
...
...
dd
cc
43.63
64.66
+24.90
+2.41
...
...
33.97
16.75
16.87
7.95
PhibroAnimal
Photronics
PAHC
PLAB
2.1
...
25
22
22.65
11.09
+0.08
–1.42
.12
... S 32.34
42.60
10.90
22.98
StitchFix
StockYardsBncp
SFIX
SYBT
...
3.9
88
10
21.41
27.95
+3.80
–3.67
...
.27
U
23.58 12.98 NuanceComms NUAN ... 38 19.99 +0.01 ... 33.67 15.75 PilgrimPride PPC ... 12 20.60 –0.69 ... 39.04 15.82 StokeTherap STOK ... dd 24.88 +1.78 ... 58.10 29.17 UFP Inds UFPI .6 13 39.35 –4.07 .125
16.00 3.81 NuCana NCNA ... dd 5.52 +0.07 ... 62.91 18.46 Pinduoduo PDD ... dd 61.30 +6.70 ... 41.54 18.97 S&T Bancorp STBA 5.4 8 20.71 –4.10 .28 46.69 17.72 StoneCo STNE ... 30 21.88 –6.22 ... 70.26 39.47 UMB Fin UMBF 2.9 12 43.42 –3.99 .31
39.06 11.31 Nutanix NTNX ... dd 20.29 –1.91 ... 65.00 27.80 PinnacleFinPtrs PNFP 1.9 8 34.45 –5.43 .16 317.11 199.22 SBA Comm SBAC .7 dd 284.10 –7.76 .465 30.60 12.18 Stratasys SSYS ... dd 16.18 –1.62 ... 13.89 2.36 USA Truck USAK ... dd 4.31 –0.39 ...
81.91 28.55 Nuvasive NUVA ... 50 57.15 –3.64 ... 8.52 0.40 PintecTech PT ... ... 1.23 –0.14 ... 25.24 10.96 SBOneBancorp SBBX 2.2 7 15.17 –2.06 .085 189.79 108.90 StrategicEd STRA 1.5 35 164.64 –5.93 .60 5.40 0.94 USAutoPartsNtwk PRTS ... dd 5.08 +0.41 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

340.02 132.60 NVIDIA NVDA .2 75 339.63 +27.13 .16 5.23 2.06 Pixelworks PXLW ... dd 3.40 –0.17 ... 1.45 0.50 SCYNEXIS SCYX ... dd .80 –0.06 ... 27.21 11.74 Strattec STRT 4.1 18 13.50 –2.06 .14 56.22 6.75 US Concrete USCR ... 19 16.81 –1.34 ...
8.90 1.30 PlayaHotels PLYA ... dd 2.37 +0.32 ... 69.61 35.41 SEI Investments SEIC 1.4 16 50.77 –1.13 .35 33.40 12.00 StratusProp STRS ... dd 14.66 –2.74 ... 67.24 24.94 US Ecology ECOL .0 dd 28.27 –2.84 .18
O 86.53 35.16 Plexus PLXS ... 16 57.70 –6.41 ... 23.10 7.20 SI-BONE SIBN ... dd 15.61 –1.87 ... 3.62 1.43
13.48
StrongbridgeBio SBBP ... dd 2.86 ... ... 104.00 60.99 US Lime&Min USLM .9 15 68.30 –12.43 .16
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34.67 6.59 Pluralsight PS ... dd 19.05 +0.67 ... 6.20 3.96 SIGA Tech SIGA ... dd 5.60 –0.30 ... 27.83 SummitFin SMMF 4.7 6 14.44 –1.42 .17 368.83 124.05 UltaBeauty ULTA ... 16 200.45 –29.62 ...
238.23 160.35 Pool POOL 1.0 35 222.97 –1.68 .58 52.01 26.04 Sina SINA ... dd 33.54 –0.22 ... 13.21 6.50 SummitStateBk SSBI 4.8 8 9.95 +0.05 .12 30.00 11.20 UltraClean UCTT ... dd 18.45 –0.14 ...
10.84 5.54 OP Bancorp OPBK 4.6 7 6.15 –0.45 .07 61.46 23.69 Popular BPOP 4.6 6 34.73 –2.34 .40 12.32 5.60 SLM SLM 1.6 4 7.43 –0.70 .03 5.49 1.13 SummitTherap SMMT ... dd 3.32 –0.09 ... 71.31 31.99 UltragenyxPharm RARE ... dd 71.29 +7.45 ...
2.91 1.12 OPKO Health OPK ... dd 2.62 +0.52 ... 2.78 0.75 PortmanRidge PTMN 21.8 dd 1.10 +0.01 .06 39.08 16.42 SMART Global SGH ... dd 24.91 –1.45 ... 29.80 1.00 SundanceEnergy SNDE ... 10 2.49 –0.34 ... 10.00 4.85 Ultralife ULBI ... 22 7.86 –0.35 ...
8.44 1.24 Orbcomm ORBC ... dd 2.58 –0.10 ... 31.73 5.31 PortolaPharm PTLA ... dd 17.82 –0.08 ... 4.19 1.32 SMTC SMTX ... dd 2.95 –0.30 ... 13.22 0.37 SundialGrowers SNDL ... dd .55 +0.04 ... 18.94 8.88 Umpqua UMPQ 8.8 dd 9.54 –1.79 .21
4.72
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454.31 251.52 OReillyAuto ORLY ... 23 407.12 +4.61 ... 6.00 1.50 Potbelly PBPB ... dd 2.05 –0.94 ... 2.71 SORL AutoParts SORL ... 4 4.71 +0.02 ... 4.72 1.30 SunOpta STKL ... dd 3.66 +0.41 ... 7.70 3.95 UnicoAmerican UNAM ... dd 4.36 ... ...
117.21 49.96 OSI Systems OSIS ... 17 69.45 –5.52 ... 45.42 22.40 PotlatchDelt PCH 5.2 64 30.55 –6.06 .40 4.00 0.55 SPI Energy SPI ... ... .75 –0.13 ... 16.04 4.03 SunPower SPWR ... 10 6.34 –1.37 ... 38.79 16.50 UnionBankshares UNB 6.7 8 18.98 –1.54 .32
1.82 0.98 O2MicroIntl OIIM ... dd 1.43 –0.09 ... 50.81 15.62 PowellIndustries POWL 4.3 13 24.08 –2.67 .26 47.33 14.44 SP Plus SP ... dd 16.81 –2.78 ... 23.66 7.84 SunRun RUN ... cc 14.07 –0.70 ... 82.49 36.20 uniQure QURE ... dd 58.33 –1.42 ...
5.75 2.33 OaktreeSpec OCSL 9.4 dd 4.06 –0.21 .095 111.56 64.95 PowerIntegrations POWI .8 15 101.43 –5.90 .21 62.26 31.28 SPS Commerce SPSC ... 57 58.00 –1.59 ... 30.00 15.76 SuperMicroComp SMCI ... 13 23.29 –2.13 ... 96.03 17.80 UnitedAirlines UAL ... 5 19.92 –5.50 ...
22.36 2.80 OasisMidstream OMP 46.3 1 4.35 –2.16 .54 8.50 2.55 PowerFleet PWFL ... dd 4.10 –0.56 ... 66.74 29.51 SS&C Tech SSNC .9 32 54.60 –3.90 .125 18.78 6.10 SuperiorGroup SGC 4.7 10 8.47 –0.82 .10 24.54 12.60 UnitedBancshares UBOH 2.1 4 13.60 –2.41 .07
19.20 0.62 ObalonTherap OBLN ... dd .86 –0.01 ... 8.77 1.26 Precigen PGEN ... dd 2.52 –0.74 ... 21.46 9.00 SSR Mining SSRM ... 46 21.31 +3.19 ... 34.11 13.12 SupernusPharms SUPN ... 11 23.40 +0.30 ... 40.70 19.67 UnitedBkshrsWV UBSI 6.0 10 23.40 –3.85 .35
13.49 1.63 ObsEva OBSV ... dd 3.73 +0.37 ... 23.67 4.60 PrecisionBio DTIL ... dd 7.79 +0.27 ... 270.95 127.39 SVB Fin SIVB ... 9 172.79 –13.06 ... 4.21 1.15 SurfaceOncol SURF ... dd 2.69 –0.04 ... 31.66 14.95 UtdCmtyBks UCBI 4.5 7 15.87 –2.83 .18
26.09 11.60 OceanFirstFin OCFC 4.9 9 13.74 –2.12 .17 64.50 20.04 PreferredBankLA PFBC 3.8 6 31.46 –4.89 .30 22.27 9.35 SVMK SVMK ... dd 19.17 +0.70 ... 19.74 4.00 SurgeryPartners SGRY ... dd 9.87 –1.07 ... 53.68 22.08 UnitedFire UFCS 5.3 dd 24.74 –2.43 .33
8.12 2.35 OcularTherapeutix OCUL ... dd 6.88 +0.91 ... 76.60 36.16 PreformedLine PLPC 1.7 9 46.47 –4.09 .20 24.95 5.55 SabraHealthcare SBRA 10.3 12 11.70 –0.80 .30 49.00 22.06 Surmodics SRDX ... 70 33.90 –2.86 ... 20.89 10.65 UnitedGuardian UG 7.5 16 14.70 –0.72 .55
43.75 18.07 OdonateTherap ODT ... dd 28.24 +0.60 ... 20.38 8.21 PremierFinBncp PFBI 5.2 7 11.62 –0.21 .15 25.44 3.30 Sabre SABR .0 dd 5.55 –1.18 .14 12.75 6.00 SutroBioph STRO ... dd 9.02 –0.80 ... 11.45 5.04 UnitedSecBcshrs UBFO 7.8 7 5.62 –0.64 .11
2.81 1.23 OfficeDepot ODP .0 8 2.13 +0.07 .025 40.14 27.11 Premier PINC ... dd 30.15 –0.35 ... 103.96 65.45 SafetyInsurance SAFT 4.8 17 75.30 –4.17 .90 38.24 22.12 SykesEnterprises SYKE ... 15 24.13 –2.46 ... 118.90 74.31 UnitedTherap UTHR ... 10 116.36 +2.93 ...
35.95 16.50 OfficePropIncm OPI 10.0 cc 21.90 –4.10 .55 19.25 7.41 PrevailTherap PRVL ... dd 14.87 –1.04 ... 31.95 21.00 SagaComm SGA 5.3 11 23.96 –3.72 .32 1.85 0.79 Synacor SYNC ... dd 1.21 –0.02 ... 11.37 4.86 Uniti UNIT 7.7 dd 7.77 +0.37 .15
41.50 20.38 OhioValleyBanc OVBC 3.4 12 24.77 –1.73 .21 79.90 41.15 PriceSmart PSMT 1.4 20 51.15 –3.58 .35 193.56 25.01 SageTherap SAGE ... dd 36.94 –2.26 ... 19.54 7.28 Synalloy SYNL ... dd 10.09 +1.26 ... 24.70 8.76 UnityBancorp UNTY 2.4 6 13.60 –1.05 .08
183.19 88.66 Okta OKTA ... dd 181.60 +12.22 ... 23.73 9.42 PrimorisSvcs PRIM 1.8 9 13.44 –1.37 .06 107.00 56.35 Saia SAIA ... 21 96.37 –2.41 ... 84.75 26.34 Synaptics SYNA ... dd 58.96 –8.45 ... 10.20 4.62 UnityBiotech UBX ... dd 7.07 +0.07 ...
157.70 87.25 OldDomFreight ODFL .4 29 149.05 –3.71 .1533 60.81 23.31 PrincipalFin PFG 6.6 8 33.85 –4.36 .56 2.50 0.65 SalemMedia SALM .0 dd .74 –0.07 .025 9.05 2.17 Synchronoss SNCR ... dd 2.19 –0.91 ... 230.32 105.11 UnivDisplay OLED .4 47 142.38 –8.17 .15
18.74 11.19 OldNatlBncp ONB 4.7 10 11.99 –1.50 .14 75.65 25.35 PrincipiaBio PRNB ... dd 64.11 +2.66 ... 179.45 102.13 SandersonFarms SAFM .9 92 134.94 –11.61 .32 21.50 5.35 SyndaxPharm SNDX ... dd 20.98 +2.95 ... 60.00 29.50 UnivElectro UEIC ... 53 38.49 +2.05 ...
13.77 5.96 Old2ndBcp OSBC .6 6 6.33 –0.91 .01 20.63 12.32 ProfessionalHldg PFHD ... 38 15.24 –0.07 ... 38.45 18.00 SandySpringBncp SASR 6.0 7 20.10 –3.83 .30 74.25 30.02 SyneosHealth SYNH ... 30 55.38 –1.50 ... 27.49 11.02 UnivLogistics ULH .0 10 11.88 –1.33 .105
103.03 28.83 Ollie'sBargain OLLI ... 34 73.45 +3.83 ... 6.37 1.89 ProgenicsPharm PGNX ... dd 3.71 –0.21 ... 107.86 66.35 Sanfilippo JBSS .7 17 81.96 –7.78 2.00 10.01 1.35 Synlogic SYBX ... dd 2.21 +0.03 ... 18.18 5.84 UnivStainless USAP ... 38 6.97 –0.53 ...
18.41 7.74 OlympicSteel ZEUS 1.0 40 8.39 –1.38 .02 52.50 28.09 ProgressSoftware PRGS 1.9 43 35.63 –2.97 .165 13.33 4.81 SangamoTherap SGMO ... dd 10.04 +1.34 ... 166.87 104.90 Synopsys SNPS ... 51 158.73 –1.44 ... 27.80 13.20 UnivestFin UVSP 5.6 8 14.39 –2.20 .20
n-

119.89 50.38 OmegaFlex OFLX 1.2 55 93.50 +1.50 .28 36.50 13.29 Progyny PGNY ... dd 25.49 +3.47 ... 34.96 18.34 Sanmina SANM ... 17 24.92 –3.85 ... 1.52 0.54 SyprisSolutions SYPR ... dd .75 +0.04 ... 3.65 0.30 UnumTherap UMRX ... dd .54 +0.08 ...
20.92 8.50 Omeros OMER ... dd 14.09 –1.92 ... 133.58 83.81 Proofpoint PFPT ... dd 115.61 –5.56 ... 51.84 37.62 Sanofi SNY ... 37 47.26 –0.82 ... 11.93 4.26 SyrosPharm SYRS ... dd 9.43 –0.27 ... 6.95 2.03 UpFintech TIGR ... dd 3.00 +0.18 ...
94.85 54.24 Omnicell OMCL ... 39 62.63 –5.63 ... 13.28 4.46 ProQR Therap PRQR ... dd 5.56 +0.45 ... 158.80 72.05 SareptaTherap SRPT ... dd 141.25 +13.25 ... 54.87 20.75 UplandSoftware UPLD ... dd 28.40 –3.13 ...
.06
25.92
22.84
8.17
11.15
ON Semi
1-800-FLOWERS
ON
FLWS
...
...
72
36
14.15
21.84
–2.97
–0.60
...
...
6.87
17.33
3.68
4.47
ProspectCapital
ProtagonistTherap
PSEC
PTGX
16.3
...
...
dd
4.41
16.20
+0.34
+2.00 ...
33.48
11.96
8.61
0.69
SatsumaPharm
Savara
STSA
SVRA
...
...
...
dd
22.42
2.31
+2.91
–0.04
...
... T 17.75
31.41
5.14
12.28
Upwork
UrbanOutfitters
UPWK
URBN
...
...
dd
10
13.72
16.65
+3.87
–1.08
...
...
2.30 1.04 180DegreeCap TURN ... 4 1.57 –0.08 ... 21.46 10.95 ProtectiveInsA PTVCA 2.3 dd 17.64 –0.86 .10 39.01 13.78 ScanSource SCSC ... 15 21.64 –5.17 ... 39.88 13.12 UroGenPharma URGN ... dd 24.65 +1.02 ...
32.42 15.00 1LifeHealthcare ONEM ... dd 32.09 +7.69 ... 18.35 10.23 ProtectiveInsB PTVCB 3.2 dd 12.33 –2.75 .10 27.47 10.09 SchnitzerSteel SCHN 5.5 16 13.61 –2.09 .1875 47.46 16.96 TCF Financial TCF 6.0 13 23.39 –4.78 .35 15.98 6.55 UrovantSci UROV ... dd 8.60 +0.09 ...
9.20 2.29 111 YI ... dd 7.61 +0.08 ... 4.72 0.61 ProteostasisTher PTI ... dd 1.75 +0.18 ... 22.79 6.95 ScholarRock SRRK ... dd 16.96 +1.13 ... 15.56 4.30 TCG BDC CGBD 18.7 dd 7.92 –0.21 .37 112.26 75.33 UtahMedProducts UTMD 1.3 22 85.28 –0.92 .28
no

5.92 4.21 1347 Property PIH ... dd 4.67 –0.08 ... 17.63 6.71 Prothena PRTA ... dd 11.29 +0.05 ... 45.80 20.01 Scholastic SCHL 2.3 dd 26.61 –1.78 .15 21.06 5.84 TCR2 Therap TCRR ... dd 9.00 –1.10 ... 3.34 1.56 UTStarcom UTSI ... dd 1.74 –0.10 ...
18.40 3.41 OneWaterMarine ONEW ... 3 14.00 +1.92 ... 22.82 3.42 ProventionBio PRVB ... dd 13.27 –0.50 ... 61.93 25.50 Schrodinger SDGR ... dd 57.00 +8.18 ... 53.99 27.70 TD Ameritrade AMTD 3.7 10 33.59 –4.30 .31 3.80 1.21 Uxin UXIN ... dd 1.35 +0.01 ...
47.85 29.12 OpenText OTEX 1.8 37 38.23 –1.33 .1746 71.97 40.40 ProvidenceService PRSC ... 86 63.21 +2.11 ... 31.63 3.76 ScientificGames SGMS ... dd 11.75 –1.40 ... 18.88 5.25 TelaBio TELA ... dd 11.83 –0.04 ...
14.94 4.60 Opera OPRA ... 11 5.34 –0.47 ... 22.99 11.78 ProvidentFin PROV 4.5 14 12.38 –0.81 .14 16.16 5.82 SciPlay SCPL ... 13 13.60 +1.70 ... 22.47 12.65 TFS Fin TFSL 8.0 48 14.08 –1.13 .28
25.84 5.26 OportunFin OPRT ... dd 6.84 –0.21 ... 19.57 9.90 PrudentialBncp PBIP 2.4 10 11.54 –0.60 .43 11.99 2.78 scPharm SCPH ... dd 10.62 –0.11 ... 7.04 1.56 THL Credit TCRD 14.4 dd 2.78 –0.20 .10 V
13.00 9.44 Optibase OBAS ... dd 10.70 ... ... 17.13 5.50 PumaBiotech PBYI ... dd 12.64 +1.54 ... 17.41 5.36 ScrippsEW SSP 2.7 dd 7.52 –1.17 .05 101.35 63.50 T-MobileUS TMUS ... 24 97.32 –1.20 ...
4.95 2.05 OpticalCable OCC ... dd 2.50 +0.06 ... 14.80 4.11 Puyi PUYI ... dd 6.02 –0.08 ... 4.98 1.15 SeaChange SEAC ... dd 2.58 –0.30 ... 27.80 9.19 TPIComposites TPIC ... dd 17.96 –0.77 ... 3.28 1.25 VEON VEON 25.2 4 1.42 –0.12 .15
11.66 3.28 OptiNose OPTN ... dd 3.91 –0.32 ... 54.54 28.21 QAD A QADA .7 dd 39.66 –4.39 .072 31.42 13.30 SeacoastBkgFL SBCF ... 12 18.29 –3.28 ... 139.82 82.51 TRowePrice TROW 3.2 14 113.51 –0.55 .90 5.94 1.82 VOXX Intl VOXX ... dd 5.00 –0.25 ...
18.21 5.74 OptionCare OPCH ... dd 12.50 –0.86 ... 38.04 20.53 QAD B QADB .9 dd 28.05 –1.95 .06 64.17 39.02 Seagate STX 5.4 7 47.77 –3.29 .65 50.45 26.28 TTEC TTEC 1.8 22 37.39 –3.07 .34 41.14 13.83 VSE VSEC 1.7 7 21.31 +1.05 .09
28.37 13.07 OpusBank OPB 2.9 dd 15.17 –3.42 .11 20.44 9.80 Q&K Intl QK ... ... 12.60 ... ... 16.78 4.02 SeaSpine SPNE ... dd 10.44 +0.04 ... 16.25 8.06 TTM Tech TTMI ... 28 10.32 –1.43 ... 12.14 6.00 ValleyNatlBncp VLY 6.5 9 6.82 –1.07 .11
18.27 5.23 OraSureTechs OSUR ... 81 16.38 –0.48 ... 44.76 22.39 QCR Holdings QCRH 1.0 7 25.20 –4.05 .06 168.10 63.02 SeattleGenetics SGEN ... dd 160.33 +2.66 ... 3.21 0.24 T2Biosystems TTOO ... dd .56 +0.05 ... 17.85 7.12 VandaPharm VNDA ... 5 11.46 +0.30 ...
19.41 5.17 OrchardTherap ORTX ... dd 9.50 –1.00 ... 25.25 8.62 QIWI QIWI 8.0 10 12.38 –0.30 .22 8.32 2.13 SecooHolding SECO ... 6 2.62 +0.05 ... 69.72 33.04 TabulaRasaHlth TRHC ... dd 58.69 –0.12 ... 33.00 16.40 VarexImaging VREX ... cc 17.52 –8.38 ...
8.44 1.09 OrganiGram OGI ... dd 1.45 ... ... 122.37 58.52 Qorvo QRVO ... 34 94.71 –8.29 ... 18.28 5.29 SecureWorks SCWX ... dd 11.43 –0.67 ... 71.65 29.47 TactileSystems TCMD ... cc 49.19 –1.11 ... 93.24 48.95 VaronisSystems VRNS ... dd 74.82 +0.54 ...
34.70 24.26 OricPharm ORIC ... ... 32.65 +0.39 ... 96.17 58.00 Qualcomm QCOM 3.4 22 75.77 –4.79 .65 6.42 3.76 SecurityNatFin SNFCA ... 10 5.65 –0.27 ... 8.54 2.48 TaiwanLiposome TLC ... dd 4.99 –0.16 ... 1.64 0.90 VascularBiogenics VBLT ... dd 1.20 –0.07 ...
38.14 15.98 OriginBancorp OBNK 2.0 11 18.16 –2.45 .0925 111.79 63.37 Qualys QLYS ... 58 105.81 +1.41 ... 12.47 5.98 SelectBancorp SLCT ... 12 6.74 –0.45 ... 135.70 100.00 TakeTwoSoftware TTWO ... 45 132.54 +2.69 ... 19.21 7.42 VeecoInstr VECO ... dd 10.87 –2.90 ...
55.17 22.11 OrthofixIntl OFIX ... dd 33.64 –2.90 ... 36.15 10.90 Quanterix QTRX ... dd 25.31 –1.19 ... 4.83 1.28 SelectaBiosci SELB ... dd 3.24 +0.11 ... 48.95 18.30 Talend TLND ... dd 29.51 –0.18 ... 11.85 2.06 VenusConcept VERO ... dd 2.97 –1.53 ...
51.48 28.19 OrthoPediatrics KIDS ... dd 46.26 +1.14 ... 8.52 1.26 Quantum QMCO ... dd 3.34 –1.00 ... 81.35 37.05 SelectiveIns SIGI 2.0 12 46.52 –1.63 .23 91.85 43.69 TandemDiabetes TNDM ... dd 88.20 +0.42 ... 12.75 3.12 VeraBradley VRA ... 9 4.24 –0.74 ...
7.97 2.20 OsmoticaPharm OSMT ... dd 4.04 –0.08 ... 210.81 52.49 Quidel QDEL ... 96 197.27 +38.67 ... 55.30 26.03 Semtech SMTC ... 73 42.39 –3.59 ... 6.16 2.92 TandyLeather TLF ... ... 3.48 –0.50 ... 31.18 13.90 Veracyte VCYT ... dd 25.87 –2.24 ...
4.18 1.53 Otonomy OTIC ... dd 2.42 –0.02 ... 17.13 5.76 QuinStreet QNST ... 25 9.32 –1.19 ... 41.88 21.97 SenecaFoods A SENEA ... 13 32.65 –5.14 ... 5.36 0.69 TarenaIntl TEDU ... ... 2.92 –0.33 ... 4.67 0.83 Verastem VSTM ... dd 1.73 –0.26 ...
57.74 30.95 OtterTail OTTR 3.8 18 38.71 –4.75 .37 11.30 2.40 Quotient QTNT ... dd 7.41 ... ... 41.00 24.33 SenecaFoods B SENEB ... 15 36.55 –0.45 ... 6.48 3.00 TatTechnologies TATT ... 43 3.89 –0.05 ... 62.84 32.44 VerintSystems VRNT ... 99 42.27 –4.59 ...
29.04 2.47 Overstock OSTK ... dd 17.07 +0.94 ... 14.62 3.95 QurateRetailB QRTEB ... dd 7.80 –0.19 ... 5.59 2.02 SeresTherap MCRB ... dd 4.60 ... ... 151.47 80.20 TechData TECD ... 13 137.28 –2.77 ... 221.78 148.77 VeriSign VRSN ... 33 217.25 +7.21 ...
5.24 1.53 OvidTherap OVID ... dd 4.11 +0.44 ... 14.63 3.01 QurateRetailA QRTEA ... dd 7.42 –0.95 ... 26.40 3.59 ServiceProperties SVC .8 cc 4.81 –1.71 .01 30.00 16.82 TechTarget TTGT ... 43 24.04 –1.41 ... 171.73 116.61 VeriskAnalytics VRSK .7 53 154.56 –5.01 .27
17.77 8.37 OxfordImmunotec OXFD ... dd 11.63 +0.16 ... 6.55 2.20 Qutoutiao QTT ... dd 2.47 +0.09 ... 2.10 0.53 ServiceSource SREV ... dd 1.61 +0.32 ... 10.10 6.15 Ericsson ERIC .6 cc 8.42 –0.08 .0777 29.41 10.02 Veritex VBTX 4.6 9 14.63 –2.00 .17
10.85 1.86 OxfordLane OXLC 59.6 dd 2.72 –0.65 .135 51.21 10.52 RaptTherap RAPT ... dd 15.58 –0.41 ... 40.90 21.76 ServisFirstBcshs SFBS 2.3 11 30.53 –3.20 .175 11.67 3.71 TeleNav TNAV ... dd 4.35 –0.80 ... 9.98 1.22 Veritone VERI ... dd 6.92 +0.99 ...
M20 BARRON’S May 18, 2020

Exchange-Traded Portfolios
Tick Div Tick Div Tick Div Tick Div Tick Div Tick Div
Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt.

Bats
InnovS&P500Pwr PJUL ... 25.65 –0.33 ... iShBds2021TermHY IBHA 5.2 23.21 –0.05 .0754 StrategyResRobust ROMO .7 21.59 +0.02 .1519 FT EnhShtMat FTSM 2.2 59.75 +0.11 .084 InvscBull2020CpBd BSCK 2.5 21.34 +0.04 .0399
InnovS&P500PwrF PFEB ... 23.07 –0.29 ... iShBds2023TermHY IBHC 6.8 22.01 –0.19 .1189 3DPrintingETF PRNT .1 18.45 –0.84 .015 FT EuropeAlpha FEP 3.9 26.96 –1.15 .0934 InvscBull2028CpBd BSCS 3.2 21.85 +0.09 .0518
InnovS&P500PwrN PNOV ... 25.01 –0.23 ... iShBds2022TermHY IBHB 6.2 22.32 –0.24 .1175 TortoiseDigPay TPAY .1 28.93 –0.93 .527 FTEurozoneAlpha FEUZ 2.7 29.39 –1.20 .1528 InvscBull2025CpBd BSCP 3.1 21.55 +0.05 .0496
ALPSCleanEnergy ACES 1.9 32.93 –1.99 .1529 InnovS&P500PwrA PAPR ... 25.16 –0.15 ... iShInflHdgCpBd LQDI 3.3 24.84 +0.24 .0556 TortoiseWaterFd TBLU 3.7 27.80 –1.11 .1187 FT GerAlpha FGM 3.0 34.47 –1.71 .0631 InvsBull25HYCpBd BSJP 6.2 21.78 –0.22 .1053
ALPS DisrupTech DTEC .5 30.52 –1.03 .1375 InnovS&P500Aug PAUG ... 24.61 –0.28 ... iShIntlAggregateBd IAGG 2.4 55.33 –0.05 .135 TrendAggSG TEGS ... 25.46 +0.20 ... FT GlTactCommod FTGC 1.1 14.59 –0.11 .1538 InvscBull2024CpBd BSCO 2.9 21.56 +0.09 .0467
ARK AutoTech ARKQ ... 40.14 –0.84 ... InnovS&P500PwrD PDEC ... 25.42 –0.20 ... iShIntlDivGrowth IGRO 3.5 46.30 –1.92 .3714 TrendAggUS TAEQ ... 25.16 –0.11 ... FTHdgBuyWriteIncm FTLB 3.4 19.58 –0.38 .055 InvsBull24HYCpBd BSJO 5.6 22.68 –0.08 .0946
ARKGenomicRev ARKG .0 44.89 +1.66 1.0539 InnovS&P500Jan PJAN ... 26.79 –0.34 ... iShLiquidityIncm ICSH 2.3 50.43 +0.06 .08 TrimTabsAllCapIntl TTAI ... 22.53 –0.36 ... FT HK AlphaDEX FHK 3.5 29.78 +0.07 .034 InvsBull20HYCpBd BSJK 3.7 23.09 –0.02 .0517
ARK Israel Innov IZRL 2.2 21.82 –0.64 .4753 InnovS&P500PwrJun PJUN ... 26.39 –0.41 ... iShMSCIArgentina AGT 1.7 17.57 +0.21 .0818 TrimTabsACUSFree TTAC ... 35.07 –0.27 ... FT IPOXEurEq FPXE 2.1 21.09 +0.90 .0485 InvscBull2021CpBd BSCL 2.6 21.35 +0.02 .0434
AffinityWorldLdr WLDR 3.1 18.13 –0.20 .0673 InnovS&P500PwrBuff PMAR ... 25.71 –0.23 ... iShMSCIChileCapped ECH 3.6 23.17 –2.13 .7503 VanEckAMTFrIntMuni ITM 2.2 49.67 +0.67 .0911 FT GlblAgri FTAG 2.9 16.81 –0.63 .0139 InvsBull21HYCpBd BSJL 5.3 22.25 –0.25 .0855
AlphaIntQuMom IMOM 1.9 22.92 –0.53 .1183 InnovS&P500PwrMay PMAY ... 25.57 –0.27 ... iShMSCIChinaAETF CNYA 1.3 28.99 –0.68 .1139 VanEckAMTFrLgMun MLN 2.8 20.56 +0.33 .0438 FT GlbNatRscs FTRI 7.7 8.67 –0.37 .0846 InvscBull2027CpBd BSCR 3.2 20.90 +0.10 .0481
AlphaIntQuVal IVAL 3.9 21.96 –0.70 .1505 InnovS&P500PwrO POCT ... 24.06 –0.26 ... iShMSCIDenmarkCap EDEN 2.5 65.84 +0.06 1.5191 VanEckAMTFrShMuni SMB 1.6 17.73 +0.05 .0236 FTIndiaNifty50EW NFTY 1.3 24.98 +0.41 .0928 InvscBull2026CpBd BSCQ 3.0 20.79 +0.09 .0472
AlphaUSQuMom QMOM .6 31.87 –0.60 .0444 InnovS&P500Sep PSEP ... 24.70 –0.30 ... iShMSCIEmgMulti EMGF 3.3 36.44 –1.07 .4494 VanEckCEFMuni XMPT 4.4 24.67 –0.26 .074 FTIndxxInnTran LEGR 2.3 26.19 –1.06 .0289 InvsBull26HYCpBd BSJQ 6.0 22.81 –0.28 .1004
AlphaUSQuVal QVAL 3.0 19.61 –1.19 .0719 InnovS&P500UltA UAPR ... 23.65 –0.17 ... iShMSCIEurozone EZU 3.9 30.93 –1.37 .1697 VanEckHYMuni HYD 4.6 56.22 +1.31 .207 FTIndxxNextG NXTG .9 50.01 –1.81 .0504 InvscBull2023CpBd BSCN 2.8 21.50 +0.11 .0463
AlphaArchValMom VMOT 2.0 21.54 –0.19 .3566 InnovS&P500UltAug UAUG ... 24.67 –0.29 ... iShMSCIFinlandCap EFNL 6.9 31.30 –1.39 .6572 VanEckMornDur DURA 3.2 24.53 –0.80 .2004 FTIntlEquOpps FPXI .6 43.56 +0.48 .065 InvsBull23HYCpBd BSJN 6.0 22.95 –0.27 .1006
AlphaCloneAltAlpha ALFA .2 51.14 –1.47 .0919 InnovS&P500UltDec UDEC ... 25.70 –0.29 ... iShMSCIGermanySC EWGS 2.1 50.12 –0.59 1.0679 VanEckMornGlb GOAT ... 27.67 –0.52 ... FT JapanAlpha FJP 3.3 42.29 –0.68 .8119 InvscBull2022CpBd BSCM 2.7 21.64 +0.04 .0444
AmCentFocDyn FDG ... 49.64 +0.35 ... InnovS&P500UltFeb UFEB ... 23.56 –0.18 ... iShMSCIGlbMet&MnPr PICK 7.9 20.79 –0.70 .0482 VanEckMornIntlMoat MOTI 5.0 25.25 –1.03 1.25 FT LC CoreAlpha FEX 1.7 53.28 –2.16 .2232 InvsBull22HYCpBd BSJM 5.5 21.75 –0.19 .0869

.
AmCentFocLCV FLV ... 42.09 –1.65 ... InnovS&P500UltJan UJAN ... 26.67 –0.39 ... iShMSCIGlSilverMin SLVP 1.9 12.15 +0.75 .1901 VanEckMornWideMoat MOAT 1.5 47.94 –1.62 .7167 FT LC GrwthAlpha FTC .8 69.75 –0.70 .2689 InvscBS2028MuniBd BSMS 1.9 24.71 +0.22 .0385
AmCustSatisfCore ACSI 1.9 30.12 –0.98 .583 InnovS&P500UltrJul UJUL ... 23.98 –0.40 ... iShMSCIEAFEGrowth EFG 1.9 75.41 –1.34 .9686 VanEckMuni MAAX 3.3 23.49 +0.41 .1062 FT LC US Equity RNLC 2.3 20.39 –0.92 .1323 InvscBS2025MuniBd BSMP 1.4 25.02 +0.13 .0297
.0215 InnovS&P500UltJun UJUN ... 25.20 –0.49 ... iShMSCIIndiaETF INDA 1.3 25.99 –0.74 .0326 VanEckRussia RSX 7.5 18.89 –0.47 1.4162 FT LC Value FTA 2.8 39.80 –2.81 .2146 InvscBS2024MuniBd BSMO 1.3 24.90 +0.15 .0277

ly
AnfieldCapDiv DALT 5.9 7.48 –0.25
AnfieldUSEquity AESR .4 9.20 –0.16 .0333 InnovS&P500Ultra UMAR ... 25.82 –0.20 ... iShMSCIIndiaSC SMIN 2.5 24.93 –0.51 .4153 VanEckRussiaSC RSXJ ... 26.68 –0.18 ... FT LatAmAlpha FLN 3.6 12.39 –0.65 .0847 InvscBS2024USDEM BSDE 4.5 24.41 +0.11 .0807
AnfieldUnivFx AFIF 2.1 9.82 +0.03 .0009 InnovS&P500UltMay UMAY ... 25.56 –0.16 ... iShMSCINorwayCap ENOR 4.7 16.99 –0.57 .1321 VanEckShHYMuni SHYD 3.6 22.28 –0.01 .0557 FT LowDurOpp LMBS 2.4 51.71 ... .10 InvscBull2029CpBd BSCT 2.9 20.14 +0.03 .0407
AptusColIncmOpp ACIO 2.4 23.97 –0.06 .1014 InnovS&P500UltN UNOV ... 25.18 –0.26 ... iShMSCI UK SC EWUS 4.0 28.90 –1.99 .6026 VanEckVietnam VNM .9 12.89 –0.33 .1051 FT LowDurStrat LDSF 2.8 20.10 +0.02 .0332 InvscBS2029MuniBd BSMT 2.0 24.60 +0.25 .0399
AptusDefRisk DRSK 1.7 30.01 +0.27 .0712 InnovS&P500UltO UOCT ... 24.10 –0.23 ... iShMSCIEAFEValue EFV 6.4 35.85 –1.51 1.3773 VangdESGIntlStk VSGX 2.8 43.42 –1.03 .056 FT MgdMuni FMB 2.5 53.55 +0.35 .105 InvscBS2021MuniBd BSML 1.1 25.20 +0.07 .0208
AptusDrawMgd ADME 1.7 30.91 +0.36 .0488 InnovS&P500UltSep USEP ... 24.54 –0.25 ... iShMornMultiAsst IYLD 6.5 20.62 –0.28 .0561 VangdESGUSStk ESGV 1.4 51.60 –1.08 .1433 FT MegaCap FMK 1.8 32.74 –0.18 .1219 InvscBS2021USDEM BSAE 3.8 25.21 +0.10 .0785
ArrowResCapMgmt ARCM 2.1 100.56 +0.03 .109 InnovS&PHiQualPfd EPRF 5.4 22.96 –0.28 .10 iShNorthAmNatRscs IGE 4.2 20.62 –0.97 .1956 VangdUSLiquid VFLQ 1.9 66.33 –4.55 .2795 FT MC CoreAlpha FNX 1.7 53.97 –3.20 .0965 InvscBS27HYCpBd BSJR 5.3 22.42 –0.34 .0968
S&PVEQTOR VQT ... 174.24 +0.73 ... InvscBalMulti PSMB 3.9 12.42 –0.23 .0576 iShRussell2500 SMMD 2.0 37.37 –2.01 .1689 VangdUSMinVol VFMV 2.8 75.64 –2.11 .3098 FT MC GrwthAlpha FNY .3 43.13 –0.92 .0039 InvscBS2027MuniBd BSMR 1.8 24.18 +0.06 .0363

on
BarclaysETN+Select ATMP 11.8 11.06 –0.21 .3264 InvscConsrvMulti PSMC 5.4 12.09 –0.10 .0663 iShIntlPfdStock IPFF 5.7 11.54 –0.48 .06 VangdUSMom VFMO 1.3 78.04 –0.92 .1332 FT MC US Equity RNMC 2.4 16.74 –1.38 .0506 InvscBS2026MuniBd BSMQ 1.8 24.48 +0.09 .0365
BarclaysWILETN WIL ... 63.78 +0.04 ... InvscGrwMultAll PSMG 2.9 12.63 –0.36 .0445 iShShortMaturityBd NEAR 2.5 49.49 +0.17 .081 VangdUSMultifact VFMF 2.1 60.71 –3.15 .3131 FT MC ValAlpha FNK 3.0 22.76 –2.23 .0665 InvscBS2023MuniBd BSMN 1.2 25.07 +0.09 .024
CBOES&P500DivAr KNG 4.9 37.25 –1.44 .3941 InvscModConserv PSMM 3.5 12.51 –0.19 .0862 iShShrtMatMuniBd MEAR 1.5 49.97 +0.06 .0646 VangdUSQual VFQY 1.6 69.31 –3.67 .2271 FT MCGrAlpDX FAD .6 69.93 –1.54 .137 InvscBS2023USDEM BSCE 4.3 25.18 +0.17 .084
CambriaEmSharehldr EYLD 5.5 24.98 –0.12 .4343 InvscPureDevxNA PBDM 3.9 20.07 –0.49 .1899 iShCohen&StrsREIT ICF 3.2 90.09 –7.34 .63 VangdUSValue VFVA 3.2 50.76 –4.46 .3655 FT MuCValAlpha FAB 2.7 39.06 –3.31 .1363 InvscBS2022MuniBd BSMM 1.2 25.07 +0.07 .0259
CambriaFgnShare FYLD 5.9 16.92 –0.62 .2665 InvscPureFTSEEM PBEE 4.1 20.21 –0.39 .1258 iShUS Div&Buyback DIVB 2.6 25.02 –0.92 .1729 WisdTrYdEnhUSST SHAG 2.7 51.10 +0.13 .1025 FTMuniCEFIncmOpp MCEF 3.3 17.51 –0.25 .05 InvscBS2022USDEM BSBE 4.1 25.33 +0.13 .0858
CambriaGlbAssetAll GAA 3.5 24.04 –0.41 .148 InvscPureMSCIUSA PBUS 1.9 28.56 –0.71 .1538 iShUSInfr IFRA 2.6 20.57 –1.54 .1484 WisdomDynCurrIntl DDWM 4.2 23.68 –0.49 .0617 FTMuniHiIncm FMHI 3.6 48.17 +0.02 .14 InvscBuyBackAch PKW 2.0 51.63 –2.48 .291
CambriaGlbMomentum GMOM 2.4 23.33 +0.22 .0204 InvscPrMSCIUSASC PBSM 1.9 21.64 –1.29 .1164 iShUSTreasuryBdETF GOVT 1.7 28.08 +0.11 .0333 WisdomDynCurrIntSC DDLS 5.3 24.30 –0.72 .0708 FT NasdComBk QABA 3.6 30.14 –4.28 .2661 InvscDWABasicMatl PYZ 2.2 45.37 –3.09 .1932
CambriaGlbValue GVAL 4.6 15.40 –0.60 .0421 InvscPureUSAggBd PBND 2.6 26.74 +0.09 .0581 JPMBetaCanada BBCA 3.1 20.67 –0.71 .1151 WisdTrDynLSUS DYLS ... 21.03 –0.31 ... FT NasdCleanEdge QCLN .9 24.16 –1.47 .0538 InvscDWAConsCyc PEZ .2 42.47 +0.12 .1008
InvscPure0-5YTIPS PBTP 2.1 25.18 +0.01 .001 JPMBetaDevAsia BBAX 5.1 19.82 –0.45 .2132 WT EM ESG Fd RESE 4.5 25.07 –0.49 .0347 FT NasdClEdSmGr GRID 1.4 47.44 –2.08 .0616 InvscDWACnsStpls PSL .8 63.49 +0.67 .1555

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CambriaMarijuana TOKE 6.2 11.06 –0.14 .1809
CambriaShareholder SYLD 3.0 27.86 –2.27 .1982 InvscRuss1000Dyn OMFL 1.9 29.65 –0.43 .1044 JPMBetaEurope BBEU 4.5 19.46 –0.74 .1723 WisdTrEurMultFd EUMF 3.3 24.33 –0.10 .0089 FT NasdCybersec CIBR 1.6 29.94 –0.45 .399 InvscDWADevMkt PIZ 1.9 24.88 –0.14 .0449
CambriaSovHiYdBd SOVB 4.1 23.63 +0.20 .0199 InvscRs1000EnhEW USEQ 2.6 22.82 –0.46 .1745 JPMBetaIntl BBIN .6 41.25 –1.22 .0738 WisdomTreeCpBdFd WFIG 3.0 52.71 +0.68 .12 FT NasdGlblAuto CARZ 3.9 26.85 –1.31 .3022 InvscDWAEMMom PIE 2.3 16.40 +0.08 .0051

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CambriaTailRiskETF TAIL 1.2 22.80 +0.20 .0477 InvscRuss2000Dyn OMFS 1.9 20.13 –1.41 .0971 JPMBetaJapan BBJP 2.6 21.36 –0.24 .5657 WisdomTreeUSHYCpBd WFHY 5.7 46.49 –0.68 .185 FT Nasd100xTech QQXT .4 56.55 –0.78 .0526 InvscDWAEnerMom PXI 5.7 13.94 –1.16 .0939
CambriaTrinity TRTY 2.9 21.16 –0.22 .0869 InvscS&P500MinVar SPMV 1.9 27.90 –0.61 .1689 JPMBetaUSREIT BBRE 3.0 62.23 –6.21 .3558 WisdTrUSSTCpBd SFIG 2.4 51.11 +0.24 .11 FT Nasd100Tech QTEC .8 95.20 –3.05 .1773 InvscDWAFinMom PFI 2.0 31.61 –0.93 .3048

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CambriaValue VAMO 1.2 15.93 –0.44 .0186 InvscS&PIntlDev IDHD 8.2 21.25 –0.61 .2224 JPM Beta1-5Y BBSA 2.3 26.13 +0.02 .0215 WisdTrUSSTHY SFHY 5.8 44.62 –0.45 .154 FT NasdArtlIntel ROBT .5 31.54 –0.76 .0173 InvscDWAHlthcrMom PTH ... 113.32 +7.72 ...
EsotericaNextG WUGI ... 30.84 +0.09 ... InvscS&PSCHiDiv XSHD 8.7 14.14 –1.23 .1142 JPMBetaUSEquity BBUS 1.9 51.75 –1.17 .1804 WisdTrIntlESGFd RESD 2.2 22.07 –0.58 .1566 FTNasdaqBk FTXO 4.7 15.58 –1.73 .1181 InvscDWAIndlsMom PRN .5 61.78 –1.53 .0542
EventShUSPolicy PLCY ... 20.66 –1.07 ... InvscS&PSCQuality XSHQ 1.8 21.95 –1.66 .1284 JPMCorePlusBd JCPB 2.5 54.58 +0.28 .0898 WisdTrIntlQualDiv IQDG 2.5 27.44 –0.41 .1179 FT NasdFood&Bev FTXG 1.5 18.52 –0.43 .0464 InvscDWAMom PDP .4 62.56 –0.20 .0709
FTCboeUSBuffAug FAUG ... 29.11 –0.40 ... iPathS&P500DynVIX XVZ ... 37.72 +0.31 ... JPMorganDisciplHY JPHY 5.6 46.55 –0.31 .2481 WisdTrUSMulti USMF 2.1 27.19 –0.94 .2027 FT NasdOil&Gas FTXN 3.2 10.45 –0.79 .0177 InvscDWASCMom DWAS .2 47.78 –0.25 .0409
FTCboeUSBuffFeb FFEB ... 27.83 –0.36 ... iPathS&PMLPETN IMLP 12.6 9.02 –0.16 .2843 JPMGlblBdOpps JPGB 5.3 47.91 +0.13 .2357 XtrkBBUSIGCpESG ESCR 3.6 21.59 +0.88 .0587 FT NasdPharm FTXH .8 22.48 +0.44 .0591 InvscDWATechMom PTF ... 84.89 +0.17 ...

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FTCboeUSBuffNov FNOV ... 29.07 –0.57 ... iPathBS&P500VIXMid VXZ ... 34.25 +1.87 ... JPM Municipal JMUB 2.3 53.02 +0.43 .113 XtrkrsEurozone EURZ 3.5 17.30 –0.49 .1128 FT NasdRetail FTXD 1.4 21.30 +0.25 .046 InvscDWAUtilMom PUI 2.7 28.50 –0.85 .1546
FTCboeUSDeepAug DAUG ... 29.34 –0.34 ... iPathS&P500VIX VXX ... 36.60 +1.65 ... JPM UltShtIncm JPST 2.4 50.37 +0.05 .0756 XtrkJPMEMSvn ESEB 4.9 19.97 –0.11 .0431 FT NasdSemicon FTXL 1.0 37.57 –1.91 .0589 InvscDivAchvrs PFM 2.5 26.66 –0.66 .1646
FTCboeUSDeepFeb DFEB ... 28.83 –0.20 ... iPathSteepener STPP ... 25.45 –0.20 ... JPMUltShMuni JMST 1.5 50.80 +0.06 .0457 XtrkJPMESGUSDHY ESHY 6.6 18.86 –0.04 .0855 FT NasdaqTrans FTXR 1.9 15.56 –1.16 .034 InvscIntLowBeta IDLB 5.0 23.28 –0.01 .1563
FTCboeUSDeepNov DNOV ... 29.62 –0.34 ... iPath2yearBear DTUS ... 21.81 –0.39 ... LHAMktStAlpha MSVX ... 25.08 ... ... FT Nasd100 EW QQEW .6 71.11 –1.41 .096 InvscFTSEUS1500SM PRFZ 2.1 96.18 –6.88 .4004
FidelityLowDurBd FLDR 2.5
FidelityStkInfl FCPI 2.2
50.22
21.57
–0.27
–0.66
.078
.129
iPath2yearBull DTUL ...
iShAdCurrHdgMSCI DEFA 3.9
75.50
23.62
–0.11
–0.56
...
.6022
LHAMktStUSTact MSUS ...
LeggMasonEMLowVol LVHE .0
22.36
21.19
–0.26
–0.35
...
.1492 NASDAQ FT RBA AmerInd AIRR .3
FTRisingDivAch RDVY 2.0
19.78
27.52
–1.79
–1.49
.0495
.1075
InvscGlblWater PIO 1.5
InvscGoldenDragon PGJ .4
26.05
41.71
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+0.48
.0085
.0852
FidelityTargEM FDEM 3.4 20.21 –0.61 .105 iShIntmGovt/CredBd GVI 2.2 116.40 +0.16 .1897 LeggMasonIntLowVol LVHI 6.1 20.41 –0.71 .0847 FT RiverFrDynAP RFAP 3.3 43.64 –0.94 .6879 InvscHYEquDivAch PEY 5.8 13.09 –0.92 .0632
FidelityTargIntl FDEV 4.0 22.17 –0.60 .146 iShBrdUSDHYCpBd USHY 6.4 36.39 –0.41 .193 MainSectorRot SECT 1.5 26.30 –0.44 .2079 AdvShDWAlphaEW DWEQ ... 18.53 –0.12 ... FT RiverFrDynDev RFDI 3.5 47.76 –1.25 .1537 InvscIntlBuyBkAch IPKW 3.9 24.94 –0.96 .2455
FTLuntUSFactor FCTR 1.1 19.76 –1.39 .0373 iShConvBond ICVT 1.9 62.68 –0.81 .0736 MotleyFool100 TMFC .5 25.69 –0.07 .1256 AdvShDW FSM AC DWAW ... 25.36 –0.42 ... FT RiverFrDynEM RFEM 4.8 50.45 –1.15 1.3439 InvscIntlDivAch PID 6.3 11.48 –0.51 .0806
FlexShCredScUSLg LKOR 3.6 58.42 +1.46 .1478 iShCoreMSCIEAFE IEFA 4.0 51.72 –1.55 1.1966 MotleyFoolSCGrw MFMS .0 25.90 –0.67 .3406 AdvShDW FSM US DWUS ... 24.98 –0.27 ... FT RiverFrDynEur RFEU 4.0 48.62 –1.89 .194 InvscKBWBank KBWB 4.5 33.13 –3.56 .3667
FlexMrnUSMktFtrTlt TILT 2.0 102.87 –3.86 .4543 iShCurrHdgMSCIEAFE HEFA 3.8 25.27 –0.55 .6163 NuvESGEMEquity NUEM 2.4 22.35 –0.44 .5415 AdvShDorseyMc DWMC .1 18.66 –0.68 .0178 FT S&PIntDivArist FID 5.4 13.01 –0.53 .056 InvscKBWHiDvYdFn KBWD 16.7 11.59 –0.78 .1624

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FlexSTOXXGlbESGImp ESGG 2.2 93.85 –2.34 .3816 iShCurrHdgMSCIEM HEEM 3.5 22.71 –0.46 .5655 NuvESGIntlDev NUDM 4.3 21.53 –0.62 .9217 AdvShDorseyShrt DWSH ... 27.46 +2.61 ... FT SMID CapRising SDVY 2.6 14.87 –1.48 .0753 InvscKBWPrEquREIT KBWY 13.2 15.60 –2.29 .1988
FlexSTOXXUSESGImp ESG 1.8 69.11 –1.54 .307 iShIntlSelDividend IDV 9.7 22.57 –1.01 .799 NuvESG LC NULC .8 26.83 –0.53 .2139 AdvShViceETF ACT 2.9 21.19 –0.73 .6203 FT SSI Strat FCVT 1.6 32.26 –0.61 .04 InvscKBWP&CIns KBWP 3.0 48.40 –3.02 .432
FlexShUSQualLC QLC 2.3 31.77 –0.90 .141 iShTransportAvg IYT 2.0 137.56 –10.05 .8387 NuvESGLCGrowth NULG .5 41.59 –0.42 .2615 AlphaMarkActiveMgd SMCP .8 18.17 –1.09 .1539 FT SrLoanFd FTSL 4.5 44.14 –0.10 .15 InvscKBWRegBkg KBWR 4.6 30.76 –4.40 .3375
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

FormulaHdgGrwth FFHG 1.0 21.42 –0.29 .0423 iShU.S.Industrials IYJ 1.6 131.83 –6.66 .5433 NuvESGLCValue NULV 1.9 25.84 –0.85 .4814 AmplifyOnlineRet IBUY .2 60.56 +0.33 .1494 FT SC CoreAlpha FYX 1.5 45.63 –3.62 .3025 InvscNasdInt PNQI ... 154.96 +1.28 ...
.0399 iShUSAerospace&Def ITA 2.6 140.70 –11.06 .7873 NuvESGMCGrowth NUMG .3 35.28 –0.67 .0961 ArrowCntryRotat DWCR 2.4 22.95 +1.95 .2633 FT SC GrwthAlpha FYC .5 36.54 –1.84 .1431 Invsc1-30LadTrea PLW 1.6 39.66 +0.29 .0371
FormulaFolIncm FFTI 3.4
FormulaFolSmartGrw FFSG 2.5
FormulaFolTactGrw FFTG 1.4
23.41
22.69
25.27
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.2057
.0497
iShUSHomeConstrn ITB .7
iShUSOil&GasExpln IEO 3.5
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36.58
31.39
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NuvESGMCValue NUMV 3.4
NuvESGSC NUSC 1.2
21.14
23.82
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.7238
.2813
ArrowInvDWATact DWAT 2.0
ClearBr AC Grw CACG .7
9.68
32.88
+0.11
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.1423
.2581
FT SC US Equity RNSC 2.3
FT SC Value FYT 2.0
15.25
24.98
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.0077
.0294
InvscQQQI QQQ .7
InvscRAFIStDvxUS ISDX 3.3
223.27
19.77
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.3627
.1768
FrankDisrComm BUYZ ... 29.45 +0.83 ... iShUSTelecomm IYZ 2.9 26.10 –1.25 .2261 NuvShTermREIT NURE 4.2 20.16 –2.13 .2251 ClearBrDivStrat YLDE 1.9 28.13 –0.20 .1368 FT SKoreaAlpha FKO 2.3 16.09 –0.13 .0873 InvscRAFIStrDevSm ISDS 2.8 19.05 –0.58 .187
FrankGenAdv HELX ... 29.07 +1.18 ... iShESGMSCIUSASC ESML 1.5 21.84 –1.30 .0654 PacerIntCashCow100 ICOW 3.9 20.33 –0.59 .0446 ClearBrLCGrw LRGE .4 37.25 –0.22 .14 FT StratIncm FDIV 4.5 43.22 –0.96 .14 InvscRAFIStratEM ISEM 2.9 20.49 –0.67 .0268
FrankIntMach IQM ... 24.64 –0.64 ... iShEdgeHYDefBd HYDB 6.4 44.85 –0.45 .2401 PacerGlCashCows GCOW 5.4 23.57 –0.79 .2153 CSX-LinksCrudeOil USOI 78.4 5.00 –0.70 .4603 FT SwitzAlpha FSZ 2.5 43.19 –1.68 .0909 InvscRAFIStratUS IUS 2.2 23.57 –0.43 .1473
FrankHYCorp FLHY 7.1 23.66 –0.14 .231 iShEdgeInvGrEnhBd IGEB 3.6 51.71 +0.35 .1457 PacerTrendEurIndex PTEU ... 23.71 –0.01 ... CSXLGoldCvETN GLDI 9.6 10.26 +0.42 .234 FT TCW Opp FIXD 2.4 53.95 +0.35 .0609 InvscRAFIStrUSSm IUSS 1.5 18.58 –0.99 .0707
FrankIntlAggBd FLIA 2.1 25.19 ... .5181 iShEdgeMSCIMinEAFE EFAV 4.9 63.13 –1.47 1.7344 PacerTrendpilot450 PTMC ... 28.32 –0.01 ... CSX SilverETN SLVO 12.6 6.38 +0.28 .2224 FT TacticalHY HYLS 5.4 44.85 –0.33 .206 InvscR1000LoBeta USLB 2.8 28.29 –1.10 .1774
FrankSrLoan FLBL 4.6 23.40 +0.09 .0682 iShEdgeMSCIMinVlEM EEMV 3.1 49.65 –0.93 .6242 PacerTrendpilot100 PTNQ ... 38.61 –0.23 ... DavisFinl DFNL 2.2 16.34 –1.28 .282 FT TotalUSMkt TUSA 1.6 27.48 –0.45 .1033 InvscS&PSCCnsDisc PSCD 1.6 44.81 –2.68 .2004
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FranklinLib US FLQL 2.3 30.00 –0.75 .1076 iShEdgeMSCIMinVol ACWV 2.9 85.14 –1.47 1.0235 PacerTrendpilot750 PTLC ... 26.99 –0.01 ... DavisSelectIntlETF DINT 3.1 15.99 –0.30 .49 FT USEquityDiv RNDV 3.9 18.39 –0.94 .0771 InvscS&PSCCnsStpl PSCC 2.0 67.91 –1.59 .045
FranklinLibUS MC FLQM 1.7 27.41 –0.97 .0693 iShEdgeMSCIMinUSA USMV 2.3 58.16 –1.22 .3133 PacerUSCashCows100 COWZ 3.3 23.65 –1.32 .2831 DavisUSEquity DUSA 1.4 20.95 –0.96 .29 FT UK Alpha FKU 5.9 25.69 –1.72 .2715 InvscS&PSCEner PSCE .9 2.88 –0.33 .0139
FranklinLibUS SC FLQS 1.9 21.74 –1.45 .0442 iShMSCIMinVolUSASC SMMV 2.2 26.56 –1.72 .0982 PacerUSSCCash100 CALF 1.9 19.20 –1.77 .0839 DavisWorldwide DWLD 2.7 21.06 –0.69 .57 FlexShCredScoreUS SKOR 2.9 52.88 +0.38 .1216 InvscS&PSCFinls PSCF 6.8 33.09 –4.22 .8413
Freedom100EM FRDM 1.9 20.51 –1.05 .0914 iShEdgeMSCIUSAMom MTUM 1.5 122.46 +0.81 .4455 PacerWealthShield PWS 1.4 23.79 +0.33 .047 DorseyWrightETN36 BMLP 11.5 30.29 –0.43 .88 FlexShDiscDurMBS MBSD 3.1 24.16 +0.01 .0603 InvscS&PSCHlthCr PSCH ... 112.76 –3.12 ...
GlbX FdrRunCos BOSS .5 19.79 –0.77 .0697 iShEdgeMSCIUSAQual QUAL 1.8 90.47 –1.53 .4103 PointBridgeGOP MAGA 2.9 21.33 –1.35 .628 FidelityNasdComp ONEQ 1.1 350.21 –5.79 .90 FlexShRealAsset ASET 3.9 23.67 –1.14 .0898 InvscS&PSCIndls PSCI 1.0 48.17 –4.08 .1279
GlbXRuss2000Cvr RYLD 13.1 18.66 +0.35 .176 iShEdgeMSCIUSAVal VLUE 3.7 66.01 –3.46 .6936 PremiseCapDivTact TCTL 2.6 25.77 –0.01 .6679 FT AltAbsRet FAAR 1.0 25.75 +0.31 .2647 GlbXAuto&Elc DRIV 1.5 12.39 –0.41 .112 InvscS&PSCInfTech PSCT .2 76.49 –6.68 .0234
GlbXTarget5 TFIV 6.3 21.24 –0.27 .095 iShUSFixedIncmBal FIBR 3.2 99.88 –0.31 .2775 PrincipalGlbDiv GDVD 3.4 23.70 –0.81 .1348 FT APxJapan FPA 4.4 21.85 –0.51 .4929 GlbXCannabis POTX 4.4 9.74 +0.31 .2149 InvscS&PSCMatls PSCM 1.9 32.02 –1.20 .1439
iShEmMkCorpBdFd CEMB 4.5 48.12 –0.01 .1898 PrincipalSpectPfd PREF 4.9 94.93 –0.23 .4143 GlbXCloudComp CLOU .0 18.74 +0.03 .0076 InvscS&PSCUtil PSCU 2.7 45.16 –3.06 .0951
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

GlbXTargetPlus2 TFLT 4.5 23.00 –0.14 .065 FT BICK BICK 1.1 22.05 –0.58 .1522
GlbXUSInfrDevt PAVE .9 12.77 –0.93 .0537 iShEM HY Bd EMHY 6.7 39.95 +0.05 .1968 ProShGlbListedPrv PEX 12.4 23.17 –0.72 .1843 FT BrazilAlpha FBZ 20.7 8.07 –0.40 .1681 GlbXConsciousCos KRMA 1.7 20.09 –0.58 .1898 InvscVarRateInvt VRIG 3.0 23.95 +0.06 .0517
GSAccInflUSDBd GTIP 3.1 54.51 +0.06 .1133 iShEvolCnStpls IECS 2.6 25.57 –0.50 .1268 ProShHY IntRt HYHG 6.5 56.55 –0.45 .2874 FT BuyWrite FTHI 5.2 18.46 –0.51 .08 GlbX Cybersec BUG .2 17.80 –0.28 .0404 InvscWaterRscs PHO .6 33.00 –1.14 .0362
GSAccUltShBd GSST 2.2 50.26 +0.13 .0595 iShEvolUSDisc IEDI 1.2 28.93 –0.34 .0999 ProShInvGrdIntRt IGHG 3.8 66.90 +0.18 .1835 FT CEFIncmOpp FCEF 6.3 17.11 –0.71 .0975 GlbXDAXGermany DAX 3.2 21.41 –1.16 .003 iShAsia50ETF AIA 2.6 57.91 –1.67 .4184
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GS EW US LC Equity GSEW 2.1 42.04 –1.55 .2779 iShEvolUSFin IEFN 3.1 17.99 –1.25 .143 ProShK1FreeCrude OILK 3.1 28.69 +1.06 .0556 FT CA MuniHi FCAL 2.6 50.68 +0.55 .095 GlbXecomm EBIZ .2 20.59 –0.01 .034 iSh3-7YTreasuryBd IEI 1.7 133.57 +0.14 .1254
HartfordLowVolIntl RODE 3.4 21.25 –0.34 .4328 iShEvolUSHlthcr IEHS .7 30.35 –0.27 .0478 ProShLCCorePlus CSM 1.8 65.28 –1.97 .2808 FT CanadaAlpha FCAN 1.8 17.45 –1.00 .0812 GlbXFinTech FINX ... 28.95 –0.84 ... iShBrdUSDInvCpBd USIG 3.3 58.01 +0.61 .1576
HartfordLowVolUS LVUS 2.5 25.81 –1.05 .1175 iShEvolUSInnHlthcr IEIH 1.3 29.68 +0.85 .1039 ProShDivGrowers EFAD 2.3 33.68 –0.91 .041 FT CapStrength FTCS 1.3 55.37 –0.34 .1535 GlbXFutAnalytic AIQ .5 18.33 –0.18 .0363 iShCommodSelStrat COMT 3.4 22.38 –0.13 .8576
HartfordShrtDur HSRT 3.5 39.77 +0.05 .1203 iShEvoUSMedia IEME 1.1 22.68 –0.50 .0403 ProShMSCIEMDiv EMDV 3.2 43.65 –1.11 .051 FT ChinaAlphaDEX FCA 4.3 23.57 –0.12 .2411 GlbXGen&Biotech GNOM ... 15.94 +0.77 ... iShCoreMSCITotInt IXUS 3.7 49.32 –1.32 .9775
InnovLuntLowVol LVHB 2.6 25.38 –1.63 .3386 iShEvolUSTech IETC .7 34.41 –0.26 .073 ProShMSCIEurDiv EUDV 2.6 36.14 –1.38 .0637 FT CloudComp SKYY .4 65.76 –0.37 .0367 GlbX Health&Well BFIT .7 17.66 –0.61 .0479 iShCore1-5YUSDBd ISTB 2.6 51.13 +0.14 .1008
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InnovNasd100Oct NOCT ... 32.68 –0.08 ... iShExpTechSftwr IGV .5 252.19 –2.24 1.1703 ProShMergerETF MRGR .8 38.14 –0.32 .2162 FT DevIntlEquity RNDM 4.1 40.97 –1.09 .0613 GlbXInternetThings SNSR 1.2 21.34 –0.90 .1843 iShCoreS&PUSGrowth IUSG 1.4 65.78 –0.80 .1875
InnovNasd100Apr NAPR ... 33.20 –0.08 ... iShMtgRealEstCap REM 18.4 20.39 –1.93 .827 ProShMornAltSoln ALTS 2.6 33.66 –0.41 .1009 FT DevMkts FDT 3.5 42.75 –1.01 .0491 GlbXLongevityThem LNGR .6 22.88 –0.18 .1435 iShCoreS&PUSValue IUSV 3.0 48.99 –1.87 .4018
InnovNasd100Jan NJAN ... 35.38 –0.06 ... iShFctUSGrwStyle STLG 1.0 23.45 +0.11 .0607 ProShPetCare PAWZ .3 44.21 –0.42 .0128 FT DevMktsXUS FDTS 3.6 29.58 –0.47 .2018 GlbXMSCISuperDiv EFAS 7.9 10.73 –0.56 .0475 iShCoreTotalUSDBd IUSB 2.9 53.45 +0.23 .1217
InnovRuss2000Oct KOCT ... 22.18 –0.66 ... iShUSMidBlendStyle STMB ... 25.48 –0.18 ... ProShRuss2000Div SMDV 3.0 44.21 –3.84 .2778 FT DorseyDyn5 FVC 1.1 23.51 –0.16 .003 GlbXMillThematic MILN .4 24.22 –0.50 .0901 iShCurrHdMSCIGrmny HEWG 3.1 23.37 –0.84 .7257
InnovRuss2000Apr KAPR ... 23.92 –0.55 ... iShUSSmBlendStyle STSB ... 25.93 –1.50 ... ProShRussUSDivGrw TMDV 1.6 33.21 –1.55 .1969 FT DorseyFoc5 FV .6 30.19 –0.31 .025 GlbXNasd100Cv QYLD 11.5 20.49 +0.13 .1986 iShSelectDividend DVY 4.9 75.07 –4.29 .9467
InnovRuss2000Jan KJAN ... 23.02 –0.76 ... iShFctUSValStyle STLV 2.9 18.42 –0.41 .1325 ProShS&P500Arist NOBL 2.5 61.30 –2.50 .3438 FT DorseyIntl5 IFV 4.1 14.84 –0.40 .039 GlbX Robotics&AI BOTZ .9 21.17 –0.01 .0307 iShESGMSCIEAFE ESGD 3.2 54.79 –1.52 .598
InnovS&P500Buff BJUL ... 25.61 –0.46 ... iShFloatingRateBd FLOT 2.5 50.07 +0.08 .0872 ProShS&PMC400 REGL 3.0 47.22 –3.00 .3935 FT DW Momentum DDIV 4.4 18.36 –0.91 .0972 GlbXS&P500Catholic CATH 1.6 35.32 –0.67 .3244 iShESGMSCIEM ESGE 2.5 28.97 –0.57 .6713
InnovS&P500BuffO BOCT ... 24.31 –0.35 ... iShGlbxUSDHiYdCpBd HYXU 1.4 44.75 –0.78 .6189 ProShS&PTechDiv TDV 1.0 37.03 –1.58 .1415 FT DW Mom&Low DVOL 2.0 19.69 –0.13 .0494 GlbXSocialMedia SOCL ... 35.48 –0.13 ... iShESGEMLdrs LDEM ... 41.95 –1.01 ...
InnovS&P500BuffA BAPR ... 26.48 –0.26 ... iShGlbHiCorpBdFd GHYG 4.9 43.86 –0.40 .1849 ProShShortUSDEmgBd EMSH 3.7 70.15 +0.27 .1993 FT DW Mom DVLU 2.9 13.02 –0.54 .083 GlbXSuperDividAlt ALTY 11.9 9.67 –0.39 .0981 iShESGMSCIUSA ESGU 1.5 64.55 –1.28 .2605
InnovS&P500Aug BAUG ... 24.65 –0.51 ... iShGoldStrategy IAUF ... 59.64 +1.53 ... ProShTrMgdFut FUT 1.2 39.96 +0.28 .0564 FT DorseyWright DWPP 1.7 25.35 –0.04 .1432 GlbXSuperDivdREIT SRET 17.9 6.32 –0.74 .065 iShESGIUSALdrs SUSL 1.7 50.33 –0.97 .227
InnovS&P500Dec BDEC ... 24.95 –0.42 ... iShiBdsDec2028Muni IBMQ 1.5 26.61 +0.25 .0311 RealityDIVDivDef DFND .8 33.37 +0.14 .0651 FTDorseyDALI1 DALI .6 16.90 –0.02 .0202 GlbX ThemGrwth GXTG .6 26.94 –0.41 .0845 iShESG1-5YCpBd SUSB 2.6 25.62 +0.13 .0461
InnovS&P500Feb BFEB ... 22.59 –0.32 ... iShiBdsDec25Muni IBMN 1.4 27.42 +0.23 .0325 RealityDIVCONLdrs LEAD 1.3 37.32 –0.34 .0795 FT DJ IntlInt FDNI 2.7 28.08 +0.93 .3087 GlbXVideoGames HERO .3 19.23 +0.52 .0278 iShESGUSDCorpBd SUSC 2.9 26.52 +0.25 .06
InnovS&P500Jan BJAN ... 26.72 –0.50 ... iShiBdsDec24Muni IBMM 1.5 26.52 +0.08 .0309 RevWeightUSLC RVRS 2.5 12.96 –0.76 .3232 FT MultAsstDiv MDIV 8.5 12.73 –0.51 .036 GlbXYieldCo&Renew YLCO 3.5 12.71 –0.32 .115 iShEurDevRealEst IFEU 5.5 28.65 –1.86 .2937
InnovS&P500BuffJun BJUN ... 26.36 –0.49 ... iShiBdsDec27Mun IBMP 1.5 26.36 +0.22 .0308 SPDRDoubleEMFixed EMTL 4.1 46.86 +0.34 .1346 FT NasdTechDiv TDIV 2.7 37.88 –1.26 .2107 HighlandSrLoan SNLN 4.9 15.56 –0.14 .0451 iShExponentialTech XT 1.6 40.20 –0.70 .3039
InnovS&P500BuffMar BMAR ... 25.52 –0.38 ... iShiBdsDec26Muni IBMO 1.3 26.20 +0.08 .028 SPDRDoubleShDurTR STOT 2.4 49.06 +0.14 .0777 FT EM Alphadex FEM 4.6 19.20 –0.36 .0308 IQChaikinUSLC CLRG 2.7 21.40 –0.46 .1493 iShFallAngelsUSDBd FALN 5.9 24.55 –0.28 .1305
InnovS&P500BffMay BMAY ... 25.49 –0.30 ... iShiBdsDec23Muni IBML 1.6 25.89 ... .0341 SabaClosedEndFds CEFS 10.3 16.26 –0.11 .14 FT EM EquitySel RNEM 3.5 38.70 –1.04 .0296 IQ Chaikin US SC CSML 1.4 18.47 –1.47 .0182 iShGNMABondETF GNMA 2.3 51.41 –0.22 .0899
InnovS&P500BuffN BNOV ... 24.70 –0.43 ... iShBds2025TermHY IBHE 7.0 22.49 –0.22 .1259 SaltHitruBetaUS SLT ... 21.53 –1.82 ... FT EM LocalCurr FEMB 6.3 32.92 –0.07 .20 InvscActMgdETC PDBC 2.0 11.75 –0.03 .2319 iShGlbCleanEnergy ICLN 1.5 10.79 –0.34 .0781
InnovS&P500JSep BSEP ... 24.16 –0.38 ... iShiBds2024TermHY IBHD 6.9 22.06 –0.22 .1196 SaltLowUSMkt LSLT 2.4 24.46 –0.71 .1591 FT EM SC Alpha FEMS 6.9 27.83 –0.04 .1845 InvscBldrSEM50ADR ADRE 2.2 35.14 –0.92 .016 iShGlbGreenBd BGRN 3.6 53.74 –0.01 .1283
n-

Nasdaq Issues
no

52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
12.89 2.01 VeronaPharma VRNA ... dd 4.21 +0.30 ... 4.75 0.80 Vivus VVUS ... dd 1.10 –0.03 ... 24.04 6.82 Wendy's WEN 1.0 41 20.86 –0.58 .05 175.78 43.16 WorldAcceptance WRLD ... 14 54.38 –8.38 ... 49.85 33.52 YorkWater YORW 1.8 34 41.00 –1.90 .1802
18.67 6.79 VerricaPharm VRCA ... dd 10.26 –0.91 ... 21.72 11.46 Vodafone VOD 6.5 dd 14.73 +0.61 .4746 44.97 27.27 WernerEnterprises WERN .9 19 41.33 –0.66 .09 32.83 19.04 WrightMedical WMGI ... dd 29.70 –0.17 ... 12.75 2.64 Yunji YJ ... dd 4.04 +0.15 ...
288.73 165.23 VertxPharm VRTX ... 50 288.69 +17.06 ... 13.75 4.18 Vonage VG ... dd 9.15 –0.23 ... 39.33 17.46 WesBanco WSBC 7.0 8 18.40 –4.11 .32 153.41 35.84 WynnResorts WYNN .0 dd 77.70 –9.24 1.00 9.01 2.06 ZAGG ZAGG ... 6 2.86 –0.24 ...
53.68 13.12 ViacomCBS A VIACA 4.7 8 20.45 –0.40 .24 28.79 6.26 VoyagerTherap VYGR ... dd 11.88 +0.73 ... 25.93 13.74 WestBancorp WTBA 5.4 9 15.65 –2.04 .21 7.25 1.80 Ziopharm ZIOP ... dd 2.70 –0.04 ...
53.71 10.10 ViacomCBS B VIAC 5.5 7 17.30 –0.78 .24 69.08 46.94 WestamericaBncp WABC 3.0 19 54.65 –4.92 .41 XYZ 2.83 0.62 Zafgen ZFGN ... dd .81 –0.06 ...
97.31
16.35
25.10
8.08
ViaSat
ViaviSolutions
VSAT
VIAV
...
...
cc
cc
35.10
10.72
–6.18
–1.60
...
... W 72.00
10.10
27.40
4.45
WesternDigital
WestNewEngBncp
WDC
WNEB
.0
4.2
dd
10
39.21
4.81
–4.99
–0.63
.50
.05
72.53
44.60
25.42
18.75
ZaiLab
ZealandPharma
ZLAB
ZEAL
...
...
dd
dd
70.27
34.85
+4.29 ...
+0.08 ...
57.86 26.50 Vicor VICR ... cc 53.92 –0.58 ... 3.39 0.70 WestportFuelSys WPRT ... cc 1.15 +0.18 ... 28.85 14.03 XOMA XOMA ... dd 19.30 –4.12 ... 260.40 150.06 ZebraTech ZBRA ... 23 217.80 –25.12 ...
24.83 10.18 VictoryCapital VCTR 1.4 8 13.97 –0.91 .05 39.98 6.61 WAVE LifeSci WVE ... dd 10.38 +2.41 ... 29.50 15.40 WeycoGroup WEYS 5.3 10 18.14 –1.81 .24 43.52 15.50 XP XP ... 48 26.51 +1.40 ... 42.83 22.00 ZentalisPharm ZNTL ... ... 35.87 +2.60 ...
70.66 18.20 VielaBio VIE ... ... 51.55 +4.35 ... 211.68 151.16 WD-40 WDFC 1.5 45 173.80 –1.31 .67 39.96 17.92 Willdan WLDN ... dd 20.76 –1.71 ... 26.40 6.76 XBiotech XBIT ... 1 14.30 –1.47 ... 66.96 18.65 Zillow A ZG ... dd 48.51 –4.18 ...
9.76 1.11 ViewRay VRAY ... dd 1.87 +0.08 ... 46.05 17.84 WSFS Financial WSFS 2.0 9 24.02 –2.93 .12 74.46 14.11 WillisLease WLFC ... 2 14.98 –2.68 ... 3.50 0.40 XcelBrands XELB ... dd .69 –0.02 ... 66.68 20.04 Zillow C Z ... dd 48.78 –4.19 ...
17.81 13.00 WVS Financial WVFC 3.1 8 13.00 –0.59 .10 72.14 46.58 XcelEnergy XEL 3.0 22 57.89 –2.42 .43
8.87 3.26 VikingTherap VKTX ... dd 7.10 +0.58 ... 47.19 9.75 WW Intl WW ... 14 24.18 –0.44 ... 220.97 143.34 WillisTowers WLTW 1.4 25 200.48 +3.13 .68 46.33 19.35 Xencor XNCR ... dd 31.45 –1.76 ... 52.48 23.58 ZionsBancorp ZION 5.0 9 27.02 –3.70 .34
28.71 16.48 VillageSuper A VLGEA 4.3 20 23.30 –0.07 .25 8.22 0.21 Waitr WTRH ... dd 2.80 +0.20 ... 6.00 4.39 WiMiHologram WIMI ... ... 4.46 –0.09 ... 18.45 7.00 XenonPharms XENE ... dd 13.00 +0.33 ... 19.98 0.02 ZionsBancorpWt ZIONW ... ... .03 –0.11 ...
10.80 4.20 ViomiTech VIOT ... 11 5.72 –0.25 ... 64.50 36.65 WalgreensBoots WBA 4.8 10 38.40 –3.27 .4575 128.35 44.27 Wingstop WING .3 cc 127.01 –0.54 .11 12.94 1.42 XerisPharm XERS ... dd 3.78 +0.55 ... 10.51 2.84 Zix ZIXI ... dd 5.33 –1.02 ...
33.10 4.98 ViperEnergyPtrs VNOM 4.7 dd 8.60 –0.24 .10 6.24 1.36 WandaSports WSG ... dd 2.42 –0.22 ... 215.00 115.00 Winmark WINA .2 16 127.51 –17.51 .05 133.00 67.68 Xilinx XLNX 1.8 27 83.23 –3.63 .38 57.22 16.65 Zogenix ZGNX ... dd 27.60 +1.92 ...
75.00 11.65 VirBiotech VIR ... ... 30.35 –0.44 ... 38.26 20.92 WashingtonFederal WAFD 3.8 9 23.16 –3.01 .22 74.46 22.02 WintrustFin WTFC 3.4 6 32.56 –6.08 .28 23.42 9.01 Xperi XPER 5.6 dd 14.37 –1.38 .20 181.50 60.97 ZoomVideo ZM ... cc 174.83 +19.43 ...
5.00 1.82 VircoMfg VIRC ... 14 2.16 –0.09 ... 54.96 25.86 WashTrBcp WASH 7.3 8 27.99 –4.63 .51 6.73 1.87 WisdomTreeInvs WETF 4.6 dd 2.60 –0.48 .03 7.20 1.87 Xunlei XNET ... dd 3.49 –0.32 ... 4.85 1.08 Zovio ZVO ... dd 2.60 +0.72 ...
26.57 14.94 VirtuFinancial VIRT 4.2 17 22.86 –0.87 .24 19.48 12.10 WaterstoneFinl WSBF 3.7 9 13.05 –1.91 .12 22.27 3.90 WISeKey WKEY ... dd 3.97 –0.60 ... 40.10 14.16 Y-mAbsTherap YMAB ... dd 38.60 –1.24 ... 89.54 35.00 Zscaler ZS ... dd 76.39 +2.37 ...
141.79 55.37 VirtusInvtPtrs VRTS 3.3 11 81.20 –14.27 .67 28.99 10.86 Watford WTRE ... dd 11.63 –1.96 ... 204.72 76.81 Wix.com WIX ... dd 201.78 +41.83 ... 5.65 1.29 YRC Worldwide YRCW ... dd 1.45 –0.05 ... 35.68 13.13 Zumiez ZUMZ ... 7 19.07 –1.30 ...
52.81 19.48 Virtusa VRTU ... 20 27.95 –7.07 ... 19.95 9.52 WaysideTech WSTG 3.5 14 19.50 +1.97 .17 129.06 46.51 Woodward WWD .6 13 53.73 –8.10 .0812 48.95 27.93 Yandex YNDX ... 57 38.99 –1.75 ... 16.47 2.55 ZynerbaPharma ZYNE ... dd 4.01 +0.02 ...
105.99 38.69 Visteon VC ... 90 65.62 +3.27 ... 56.85 29.50 Weibo WB ... 16 35.06 –1.43 ... 226.83 107.75 Workday WDAY ... dd 154.30 –11.25 ... 6.87 3.66 YintechInvt YIN 1.7 dd 5.80 +0.02 .20 8.05 5.51 Zynga ZNGA ... cc 8.04 +0.27 ...
May 18, 2020 BARRON’S M21

Exchange-Traded Portfolios
Tick Div Tick Div Tick Div Tick Div Tick Div Tick Div
Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt.
iShGlbTimber WOOD 2.6 48.53 –4.62 1.1206 WisdTrEMConGrwth EMCG 3.3 19.22 –0.40 .02 DefianceNextFd DIET .0 22.49 +0.05 .0458 FidelityMSCIHlthCr FHLC 1.4 49.36 +0.48 .254 GlbX MSCIGreece GREK 3.9 17.34 –0.48 .5567 InvscDynSoftware PSJ .1 103.98 –0.78 .0559
iShiBdsDec28Trea IBTI .4 26.57 ... .0133 WisdTrEM CpBd EMCB 4.5 68.04 +0.40 .255 DefianceQuantum QTUM .7 26.35 –1.04 .0302 FidelityMSCIIndls FIDU 2.3 31.10 –1.93 .185 GlbXMSCINextEm EMFM 3.8 15.26 –0.30 .241 InvscEMSovDebt PCY 5.8 24.90 +0.09 .1212
iShiBdsDec25Trea IBTF .4 26.14 +0.02 .013 WisdTrEMQualDivGrw DGRE 3.0 20.57 –0.59 .0447 DeltaShS&P500Mgd DMRL 1.6 56.57 –0.25 .2156 FidelityMSCIIT FTEC 1.5 73.14 –1.21 .279 GlbXMSCINigeria NGE 9.8 8.61 –0.08 .7601 InvscFinlPfd PGF 5.4 17.59 –0.37 .0813
iShiBdsDec24Trea IBTE .4 25.98 +0.02 .0131 WisdTrGermanyHdg DXGE 3.4 24.58 –0.87 .0362 DeltaShS&P400Mgd DMRM 1.3 46.43 –0.25 .1204 FidelityMSCIMatls FMAT 3.4 27.56 –1.11 .205 GlbX MSCINorway NORW 5.2 8.49 –0.27 .3641 InvscFTSEDvMktxUS PXF 5.2 30.77 –1.29 .2901
iShiBdsDec29Trea IBTJ .4 26.64 +0.09 .0132 WisdTrIntRtHYBd HYZD 6.4 19.77 –0.08 .095 DeltaShS&PIntMgd DMRI 3.1 42.88 –0.16 .2303 FidelityRealEst FREL 6.0 20.43 –1.86 .282 GlbXMSCIPakistan PAK 4.6 23.63 +0.01 .5434 InvscDevMktxUSSM PDN 3.9 25.10 –0.62 .1875
iShiBdsDec21Trea IBTA .6 25.39 –0.01 .0168 WisdTrIntUSAgg AGZD 2.8 46.37 –0.07 .09 DeltaShS&P600Mgd DMRS 1.3 46.33 –0.31 .1246 FidelityMSCIUtils FUTY 4.4 35.34 –1.07 .336 GlbXMSCIPortugal PGAL 4.6 8.35 –0.36 .3125 InvscFTSERAFIEM PXH 4.7 15.93 –0.57 .0582
iShiBdsDec27Trea IBTH .4 26.41 +0.02 .012 WisdTrJapanHdgSC DXJS 2.6 35.37 +0.05 .4773 DirexAllCapIns KNOW 3.0 31.25 –0.77 .1546 FidelityMomFactor FDMO 1.6 34.61 –0.49 .098 GlbXISuperDivEM SDEM 9.6 9.30 –0.29 .0595 InvscFTSEUS1000 PRF 2.8 99.62 –4.21 .7443
iShiBdsDec26Trea IBTG .4 26.25 +0.05 .012 WisdTrMEDiv GULF 4.1 15.72 –0.03 .0933 DirexAuspiceBroad COM 1.1 21.49 –0.03 .0323 FidelityQualFactor FQAL 2.3 34.13 –0.63 .17 GlbXS&P500Cv HSPX 6.9 41.51 +0.08 .203 InvscFundHYCpBd PHB 4.4 17.22 –0.23 .0625
iShiBdsDec23Trea IBTD .4 25.76 +0.02 .0126 WisdTrNegHYBd HYND 7.2 14.37 –0.15 .065 DirexAeroBl3 DFEN 3.6 8.50 –2.26 .0798 FidelitySmalMid FSMD 2.2 20.31 –1.16 .077 GlbXS&P500QualDiv QDIV 4.1 19.80 –1.05 .07 InvscFundInvCpBd PFIG 2.8 26.39 +0.07 .0605
iShiBdsDec22Trea IBTB .6 25.61 ... .0171 WisdTrNegDurUS AGND 3.0 37.73 –0.15 .075 DirexBrazilBull2X BRZU 28.9 45.33 –5.22 .238 FidelityTotalBdETF FBND 2.8 52.81 ... .132 GlbXSciBetaAsiaXJ SCIX 6.0 18.74 –0.59 .6668 InvscGlbClnEner PBD 2.1 13.17 –0.59 .0337
iSh$HYxOil&Gas HYXE 5.5 47.90 –0.35 .2201 WisdTrUSQltyDiv DGRW 2.5 42.36 –0.80 .09 DirexCSIChinaInt CWEB .6 28.01 +0.78 .0959 FidelityValFactor FVAL 2.8 31.00 –0.92 .181 GlbXSciBetaEurope SCID 3.7 19.75 –0.85 .5396 InvscGlblPrvEqu PSP 10.6 8.98 –0.36 .2012
iShIndia50ETF INDY .8 27.05 –0.87 .2251 WisdTrUSSCQltyDiv DGRS 3.1 25.70 –2.26 .045 DirexCSI300CnA CHAD 2.1 28.10 +0.67 .0633 FieldUVAUnconMed FFIU 2.8 25.74 –0.03 .055 GlbXSciBetaJapan SCIJ 3.8 23.53 –0.33 .656 InvscGlbShrtHYBd PGHY 5.9 20.41 –0.25 .1028
iShIntermCorpBd IGIB 3.4 57.92 +0.51 .1591 DirexCSI300CnABl2 CHAU .6 19.26 –0.99 .027 FinSelSectorSPDR XLF ... 21.05 –1.24 ... GlbXSciBetaUS SCIU 2.1 29.24 –1.01 .3397 InvscIndia PIN 1.1 15.25 –0.35 .1667
iShIntlDevRealEst IFGL 10.7
iShIntlTreasuryBd IGOV .2
21.32
49.45
–1.37
–0.02
.2165
.1219 NYSE DirexCommSvsBr3 MUTE 2.0
DirexCommSvsBl3 TAWK .2
8.85
26.87
+0.20
–1.14
.0078
.0337
FTActiveFactorLC AFLG 1.1
FTActiveFactorMC AFMC 1.1
17.47
15.21
–0.10
–0.43
.0573
.0225
GlbXSilverMiners SIL 1.4
GlblXSuperDividend SDIV 14.8
35.17
9.53
+2.00
–0.58
.4091
.075
InvscIntlCpBd PICB 1.5
InvscInvGradeDef IIGD 2.2
25.23
27.01
–0.37
+0.05
.029
.0445
iShJPMUSDEmgBd EMB 4.9 102.16 +0.51 .3791 DirexCnsDiscBr3 PASS 1.7 10.05 +0.38 .0052 FTActiveFactorSC AFSM .9 14.76 –0.19 .065 GlbXSuperDivUS DIV 12.7 14.02 –0.75 .1065 InvscInvGradeValue IIGV 2.9 26.63 +0.11 .0624
iShMBSETF MBB 2.5 111.08 –0.14 .218 GuggCreditAlloc GGM 13.5 16.07 –0.33 .1813 DirexCnsDiscBl3 WANT .8 20.28 –1.05 .0355 FT AustrAlpha FAUS 8.3 21.46 –0.41 .3908 GlbXSuperIncPfd SPFF 6.7 10.25 –0.24 .0565 InvscMSCIGlbTimb CUT 3.6 21.61 –1.56 .771

.
iShMSCI ACWI ACWI 2.6 67.74 –1.52 .9431 NETLeaseCpRlEst NETL 4.7 17.77 –2.23 .1912 DirexCnsStplBr3X LACK 1.9 13.30 +0.47 .0137 FT ConsDscAlpDx FXD 1.6 31.20 –1.87 .1291 GlbX US Pfd PFFD 6.0 22.88 –0.48 .1135 InvscNatAMTFrMuni PZA 2.7 26.10 +0.29 .059
iShMSCIACWIxUS ACWX 3.8 39.17 –1.05 .7939 NuvShrtDurCrOppFd JSD 9.6 10.91 –0.43 .0875 DirexCnsStplBl3X NEED 1.8 21.09 –0.86 .075 FT ConsStaples FXG 1.9 44.47 –0.90 .1944 GlbX Uranium URA 1.8 10.37 –0.70 .1037 InvscNYAMTFrMuni PZT 2.7 24.90 +0.34 .0553
InvscPreferred PGX 5.9 13.88 –0.27 .0619

ly
iShMSCIACxJpn AAXJ 2.1 63.21 –1.34 .4112 DirexDevMktBl3 DZK 3.6 28.29 –2.62 .383 FT DJ GlbSelDiv FGD 10.4 15.96 –0.88 .4713 GSAccessHYCorpBd GHYB 5.7 45.37 –0.54 .1867
iShMSCIBrazilSC EWZS 4.2
iShMSCIChina MCHI 1.5
9.02
60.31
–0.45
–0.74
.1496
.5744 NYSE ARCA DirexDJBear3X WEBS 1.2
DirexDJBull3X WEBL .1
9.70
28.58
...
–0.35
.0315
.0176
FT DJ Internet
FT Dow30EW
FDN ...
EDOW 2.4
154.49
21.63
–0.31
–0.65
...
.1431
GSAccessIGCpBd GIGB 3.1
GSTreasury0-1Y GBIL 1.8
53.06
100.56
+0.79
...
.1312
.0766
InvscRayJamesSB1 RYJ ...
InvscRuss1000EW EQAL 2.3
32.65
27.63
–1.87
–1.37
...
.1646
iShMSCI EAFE SC SCZ 4.5 48.42 –1.46 .9324 DirexEM Bear3 EDZ 1.3 38.63 +2.47 .086 FTEIPCarbonImpact ECLN 2.2 18.68 –0.61 .0599 GSActiveBetaEM GEM 3.2 27.62 –0.73 .3194 InvscS&PEMLowVol EELV 5.0 18.50 –0.23 .2112
iShMSCI EM Asia EEMA 2.2 60.66 –1.23 .3074 AAM LowDurPfd PFLD 6.3 22.73 –0.28 .08 DirexEM Bull3 EDC 2.2 33.17 –2.35 .3919 FT EnergyAlpDx FXN 3.1 5.90 –0.54 .0431 GSActiveBetaEurope GSEU 4.3 24.58 –0.89 .1621 InvscS&PEMMom EEMO 5.0 12.21 –0.18 .2767
iShMSCIEMxChina EMXC 3.1 37.92 –1.01 1.4264 AAMS&PDevMk DMDV 9.2 17.75 –0.68 .01 DirexEnergyBr2 ERY .9 63.97 +8.36 .1496 FT EqCompRiskMgr ERM 2.7 16.49 –0.40 .0736 GSActiveBetaIntlEq GSIE 3.3 24.00 –0.72 .0719 InvscS&P500BuyWr PBP 2.1 17.56 +0.03 .0824
iShMSCIEuropeFinls EUFN 7.4 12.01 –0.87 .1824 AAMS&PEMHiDivVal EEMD 8.8 16.36 –0.46 .0171 DirexEnergyBl2 ERX 10.3 14.07 –2.27 .7119 FT EqCompTactical TERM 2.8 14.41 –0.34 .062 GSActiveBetaJapan GSJY 3.2 28.95 –0.34 .6704 InvscS&P500Down PHDG 1.6 28.95 –0.44 .0617
iShMSCIEuropeSmCp IEUS 5.5 40.99 –1.80 .5741 AAMS&P500HiDivV SPDV 5.8 18.64 –1.11 .0683 DirexChinaBr3 YANG 1.4 41.07 +3.31 .1087 FT DJ SelMicro FDM 2.1 33.03 –2.82 .1958 GSActiveBetaUSLC GSLC 1.9 58.12 –1.05 .3061 InvscS&P500EnhVal SPVU 3.6 25.19 –1.65 .2464

on
iShMSCIGlblGoldMin RING .7 30.50 +1.31 .0541 AIPoweredEquity AIEQ .5 26.56 +0.02 .06 DirexChinaBl3 YINN 2.4 11.59 –1.01 .0375 FT FTSE DevRE FFR 6.6 33.67 –2.88 .024 GS Active US SC GSSC 1.8 34.92 –2.25 .1553 InvscS&P500EWCm EWCO 1.8 22.63 –0.61 .0731
iShMSCIGlbImpact SDG 1.5 61.56 –0.72 .5452 AIPwrdIntlEqu AIIQ ... 23.21 –0.31 ... DirexFTSEEurBull3x EURL 3.5 10.97 –1.37 .0557 FT FinlsAlpDx FXO 3.3 21.58 –1.96 .1966 GS Data GDAT 1.0 56.20 –1.15 .3033 InvsS&P500EWCD RCD 2.5 76.55 –4.49 .5206
iShMSCIJapanEW EWJE 3.6 30.74 –0.28 .6495 ALPSEmgDivDogs EDOG 5.7 15.88 –0.27 .0983 DirexFinlBear3 FAZ 1.3 27.45 +3.70 .0446 FT GlbEngg FLM 4.3 36.59 –2.25 .6529 GS Fin GFIN .9 53.43 –1.34 .048 InvscS&P500CnStp RHS 2.4 130.32 –3.39 .8294
iShMSCIJapanVal EWJV 5.3 21.05 –0.51 .655 ALPS EqSecWgh EQL 2.8 67.33 –2.29 .636 DirexFinlBull3 FAS 2.3 24.23 –4.44 .1235 FT GlbWindEner FAN 2.4 12.50 –0.26 .0401 GSHedgeIndVIP GVIP .5 59.91 –0.85 .1115 InvscS&P500EWEner RYE 3.9 25.81 –2.34 .2459
iShMSCINewZealand ENZL 3.9 49.08 –1.23 1.1772 ALPSIntlDivDogs IDOG 7.0 20.21 –0.61 .2384 DirexGoldMinBr2 DUST 8.9 26.43 –3.02 .717 FT HlthCareAlpha FXH ... 88.40 +1.18 ... GS HumanEv GDNA .4 57.34 –0.03 .0756 InvscS&P500EW RSP 2.4 91.26 –4.77 .73
iShMSCIQatar QAT 4.0 15.76 –0.25 .6348 ALPSMedBreak SBIO .0 41.17 +0.77 .0159 DirexGoldMinBl2 NUGT 1.2 79.51 +6.84 .7094 FTHorizonMgdVolDev HDMV 4.2 26.65 –0.59 .4265 GS JUST US LC JUST 1.9 41.41 –0.86 .2193 InvscS&P500EWFin RYF 2.7 32.56 –2.32 .2713
iShMSCITurkeyETF TUR 4.4 20.34 +0.98 .5918 ALPSREITDivDogs RDOG 6.0 30.63 –3.30 .6844 DirexHlthcrBull3 CURE .5 55.56 +1.54 .0998 FTHorizonMgdVolDom HUSV 1.7 23.83 –0.57 .0835 GS Mfg GMAN 1.2 49.34 –1.81 .0559 InvscS&P500EWHC RYH .6 213.09 –1.41 .3251
iShMSCIUAE UAE 4.8 9.93 –0.01 .4759 ALPSSectorDivDogs SDOG 5.1 32.57 –2.04 .4614 DirexHmbldrBull3 NAIL .4 16.89 –3.31 .0049 FT Chindia FNI .5 34.49 –0.17 .0345 GS NewAge GBUY .3 60.04 +0.01 .0078 InvscS&P500Ind RGI 1.8 101.80 –6.65 .5085
InvscS&P500EWMat RTM 2.5 89.50 –5.06 .5782

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iShMornMCValue JKI 4.2 111.22 –7.98 1.4735 ARKInnovationETF ARKK .0 58.09 –0.21 .1906 DirexIndlsBl3 DUSL 3.6 9.77 –2.02 .0622 FT IndlsAlpDx FXR 1.7 32.57 –1.97 .2139 GraniteBloomComm COMB 1.9 18.42 –0.24 .3586
iShNasdaqBiotech IBB .2 132.25 +3.84 .0554 ARK NextGen ARKW ... 71.01 –0.53 ... DirexJapanBl3 JPNL 1.6 35.37 –1.48 .2258 FTInstPfdSecs FPEI 5.7 18.08 –0.03 .1102 GraniteGold BAR ... 17.36 +0.37 ... InvscS&P500RlEst EWRE 4.6 22.48 –2.32 .4498
iSh13YearIntlTBd ISHG ... 76.97 +0.05 ... AberdStdBlAllCm BCD 1.9 19.77 –0.18 .3805 DirexJrGoldMinBr2 JDST 20.7 21.45 –3.30 1.1458 FT LgDurOpps LGOV 2.9 30.14 +0.92 .10 GraniteHIPSUSHiInc HIPS 12.3 10.46 –0.51 .1075 InvscS&P500EWTech RYT 1.2 180.19 –8.23 .7977

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iShPHLXSemicond SOXX 1.4 231.17 –9.87 .6957 AberdStdBlACStr BCI 1.9 17.30 –0.45 .3344 DirexJrGoldMinBl2 JNUG 1.8 97.87 +11.19 .1217 FT Long/Short FTLS .8 40.09 –0.09 .0448 GranitePlatinum PLTM ... 7.91 +0.30 ... InvscS&P500EWUtil RYU 3.1 87.57 –2.85 .7034
iShPfd&Incm PFF 5.9 33.44 –0.82 .1697 AberdStdPhysGold SGOL ... 16.79 +0.37 ... DirexLatinAmBl3 LBJ 8.7 29.30 –6.23 .43 FT MgdFutures FMF 1.0 44.07 +0.45 .4493 GraniteXOUTUSLC XOUT .8 27.07 –0.27 .0638 InvscS&P500xRt XRLV 2.2 33.17 –1.18 .0667

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iShRuss1000PureUS AMCA 3.2 24.08 –1.24 .1677 AberdStdPhysPall PALL ... 176.43 –0.77 ... DirexIndiaBull3 INDL 2.5 15.54 –1.46 .0145 FT MatAlpDX FXZ 2.3 29.85 –2.29 .1451 HCM Def500 LGH .2 22.80 –0.60 .048 InvscS&P500GARP SPGP 1.4 49.81 –2.23 .2322
iShS&PSC600Growth IJT 1.2 146.06 –10.71 .3656 AberdStdPhysPlat PPLT ... 75.35 +2.87 ... DirexMexicoBl3 MEXX 8.2 22.25 –5.12 .4788 FTMergerArbitrage MARB ... 19.70 –0.12 ... HCM Def100 QQH .0 26.50 –0.31 .0619 InvscS&P500HiBeta SPHB 3.0 33.08 –2.09 .4609
iShS&P EM Infra EMIF 3.2 20.43 –0.97 .4142 AberdStdPhyPrMt GLTR ... 80.58 +2.45 ... DirexMcBull3 MIDU 2.5 14.28 –2.99 .1813 FT MngstrDiv FDL 5.5 23.51 –1.25 .29 HartfordMultiDvxUS RODM 3.7 22.51 –0.83 .4785 InvscS&P500HiDiv SPHD 6.0 30.57 –1.74 .1562
iShGlobalInfra IGF 4.4 35.29 –1.02 .7869 AberdStdPhySilv SIVR ... 16.13 +1.12 ... DirexPharmBl3X PILL .2 15.42 +0.97 .0003 FT NaturalGas FCG 4.9 6.85 –0.57 .0578 HartfordMultiEM ROAM 4.6 17.78 –0.45 .5616 InvscS&P500LowVol SPLV 2.7 47.47 –1.97 .1185
iShShortCpBd IGSB 3.0 53.80 +0.24 .1202 AbsoluteCrStrat ABEQ ... 21.50 –0.53 ... DirexRealEstBr3 DRV 1.2 27.54 +5.95 .06 FT NA Energy Infra EMLP 5.0 19.64 –0.66 .2584 HartfordMultiREIT RORE 3.8 10.45 –1.24 .19 InvscS&P500Mom SPMO 1.6 40.46 –0.44 .171

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iShShortTreaBd SHV 1.9 110.82 +0.01 .0912 AcquirersFund ZIG ... 19.45 –1.13 ... DirexRealEstBl3 DRN 6.4 6.98 –2.17 .1545 FT NYSE ArcaBiotch FBT ... 161.13 +3.59 ... HartfrdMultifctrSC ROSC 4.3 21.84 –1.56 .60 InvscS&P500PrGrw RPG 1.0 117.11 –2.58 .2795
iSh1-3YTreasuryBd SHY 1.9 86.68 +0.02 .0724 AdvShDorseyADR AADR .7 46.53 –0.76 .0085 DirexRgBanksBull3X DPST 13.4 42.14 –22.63 .407 FT PfdSecs FPE 6.0 17.84 –0.30 .09 HartfordMultiUSEqu ROUS 2.5 27.90 –1.11 .1409 InvscS&P500PrVal RPV 3.9 42.05 –3.09 .4584
iSh7-10YTreasuryBd IEF 1.6 121.95 +0.42 .128 AdvShDbLineVal DBLV ... 61.78 –1.86 ... DirexRetailBull3 RETL 2.5 97.32 –9.66 .8695 FTSTOXXEurSel Div FDD 7.0 8.98 –0.53 .0283 HartfordMuniOpps HMOP 2.6 40.79 +0.25 .0937 InvscS&P500Qual SPHQ 1.9 33.50 –0.49 .1745
iSh20+YTreasuryBd TLT 1.8 166.71 +2.73 .2162 AdvShFocusedEqu CWS .4 33.49 –0.87 .1464 DirexRobAI3X UBOT .7 79.00 –0.65 .1456 FT ShDurMgMun FSMB 2.2 20.17 +0.07 .033 HartfordSchTax HTAB 2.0 21.21 +0.11 .0074 InvscS&P500Rev RWL 2.4 47.44 –1.50 .2957
iSh0-5YInvGrdCpBd SLQD 2.8 51.44 +0.22 .1115 AdvShFolioBey FWDB 3.7 25.41 +0.06 .017 DirexRussiaBl2 RUSL 2.0 13.02 –0.66 .1174 FT S&P REIT FRI 3.5 18.26 –1.85 .1595 HartfordTRBd HTRB 3.6 40.83 +0.07 .1026 InvscS&P500Top50 XLG 1.7 221.16 –2.98 .9652
JanusSCGrwAlpha JSML .3 40.25 –0.41 .0329 AdvShNewfleet MINC 2.9 47.23 +0.16 .0934 DirexS&P500Br3 SPXS 1.8 10.49 +0.62 .02 FT TCW SecPlus DEED ... 25.31 +0.03 ... HealthCareSelSect XLV 1.6 100.42 +1.01 .382 InvscS&P500ValMom SPVM 3.6 29.32 –1.98 .2227
JanusS/MC GrwAlph JSMD .4 40.83 –2.20 .0286 AdvShPureCannab YOLO 8.8 9.02 +0.26 .1262 DirexS&P500Bl3 SPXL 1.6 33.96 –2.43 .2623 FT TCWUnPlBd UCON 3.4 24.87 +0.03 .0775 High Yield HYLD 9.2 26.30 +0.03 .20 InvscS&PGlbWater CGW 1.8 33.92 –1.12 .6069
LeggMasonGlbInfr INFR 4.0 25.14 –0.79 .2143 AdvShRangerEqBear HDGE .2 5.87 +0.23 .0116 DirexS&P500Bull2X SPUU 2.0 47.49 –2.24 .4848 FT TechAlphaDEX FXL .2 72.47 –0.51 .0288 HoyaCapHousing HOMZ 2.2 21.43 –1.40 .0636 InvscS&PIntDvLoVl IDLV 7.5 26.32 –0.54 .2356
LeggMasonLVHD LVHD 3.4 26.00 –1.49 .286 AdvShStrGlbBW VEGA .5 30.71 +0.13 .151 DirexS&PBiotechBr3 LABD 4.3 4.91 –0.64 .0498 FT USEquityOpp FPX .8 75.86 +0.47 .1443 HullTacticalUS HTUS 1.1 21.94 +0.19 .2472 InvscS&PIntlDev IDMO 2.6 24.92 –0.40 .1999
LeggMasonSCQualVal SQLV 1.9 18.75 –2.18 .083 AdvShSageCore HOLD 2.3 97.54 –0.07 .1456 DirexS&PBiotechBl3 LABU .1 47.75 +3.74 .0053 FT UltShDurMuni FUMB 1.5 20.09 –0.01 .019 IQCandESGIntl IQSI 1.1 20.38 –0.55 .0976 InvscS&PIntlDevQu IDHQ 2.8 22.29 –0.53 .2068
AGFiQ DynHdgUS USHG 1.2 25.88 –0.54 .0742 InvscS&PMC400EW EWMC 2.0 50.04 –3.66 .3443

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LoncarCancerETF CNCR ... 26.06 +1.46 ... DirexS&P500Br1 SPDN 1.3 25.01 +0.52 .0176 FT UtilAlpha FXU 2.8 25.00 –1.10 .1789 IQCandESGUS IQSU 1.0 24.04 –0.39 .1085
LoncarChinaBio CHNA .2 26.63 +0.84 .0402 AGFiQHdgDivIncm DIVA 5.4 19.45 –1.06 .3068 DirexHiBetaBear3X HIBS .4 18.60 +2.80 .0154 FT ValDivFd FVD 2.8 28.01 –1.48 .1919 IQEnhCorePlusBdUS AGGP 2.7 19.99 +0.04 .0288 InvscS&P400PrGrw RFG .7 132.53 –4.71 .2271
LongTermCareETF OLD 3.2 19.75 –0.96 .0677 AGFiQ US NeutAB BTAL .8 25.59 +0.56 .1958 DirexHiBetaBull3X HIBL 3.3 62.00 –13.60 .4282 FT ValueLine100 FVL .9 20.08 –0.28 .0323 IQ50%HdgFTSEEur HFXE 3.2 16.45 –0.56 .2225 InvscS&P400PrVal RFV 3.2 42.75 –4.04 .4247
AGFiQ US NeutrMom MOM ... 30.74 +1.43 ... InvscS&PMC400Rev RWK 1.8 45.18 –3.24 .2156
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Merlyn.AITactGrw SNUG 1.2 23.71 –0.19 .0681 DirexS&POil&GasBr2 DRIP .3 8.47 +1.55 .0027 FT Water FIW .6 49.73 –2.33 .0715 IQ50%HdgFTSEIntl HFXI 3.5 17.46 –0.44 .0891
NasdaqNexEcon BLCN 1.5 24.85 –0.24 .0423 AlerianEnergyInfr ENFR 9.3 13.22 –0.18 .2842 DirexS&POil&GasBl2 GUSH 10.2 31.11 –8.04 5.12 FlexShSelBdFd BNDC 2.5 26.55 +0.19 .0312 IQ50%HdgFTSEJapan HFXJ 3.8 18.89 +0.17 .2449 InvscS&PMCLowVol XMLV 3.4 38.88 –3.19 .3714
.1363 AlerianMLPETF AMLP 15.1 4.81 –0.04 .75 InvscS&PMCMom XMMO 1.0 54.21 –1.61 .1854
Nasdaq7HANDL HNDL 3.9
PacerCashCows HERD 2.8
PacerEMCashCows ECOW 11.2
23.14
19.85
18.48
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AmCentDivrsCpBd KORP 2.9
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24.80
50.63
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.0972
DirexSemiBear3 SOXS 3.9
DirexSemiBl3 SOXL .7
Direx7-10TreaBr3 TYO 1.8
9.47
121.49
7.94
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FlexShCurrHdDM TLDH 5.2
FlexShCurrHdgEM TLEH 3.9
FlexShDevMkxUSQu QLVD 1.9
23.14
23.90
22.62
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IQGlbAgribusSC CROP ...
IQGlobalResources GRES 2.0
IQHedgeEventDriven QED 2.2
28.03
23.72
20.81
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...
.4702
.4497
InvscS&PMCQual XMHQ 1.6
InvscS&PMCValMom XMVM 2.9
46.38
23.42
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PrincipalContVal PVAL 2.3 20.46 –0.74 .1287 AmCentDivrsMuni TAXF 2.3 51.07 +0.32 .0974 Direx7-10TreaBull TYD .6 68.02 +0.61 .0742 FlexShEMQualLo QLVE 2.1 21.29 –0.44 .0066 IQHedgeL/STracker QLS 1.7 21.18 –0.36 .3534 InvscS&P100EW EQWL 2.7 51.81 –1.65 .3426
PrincipalHlthInnov BTEC ... 41.80 +1.42 ... AmCentQulDivIn QINT 2.2 35.13 –0.88 .2091 DirexScBear3 TZA 1.4 36.71 +5.23 .0832 FlexGlbQualRealEst GQRE 5.8 46.43 –4.06 .065 IQ HedMacrTrac MCRO 1.4 25.60 –0.04 .3611 InvscS&PSCLowVol XSLV 5.5 30.37 –3.61 .4651
PrincplMillennials GENY .9 36.70 –0.91 .024 AmCentStoxxUSQ QGRO .4 44.34 –0.25 .0475 DirexSCBull2 SMLL 1.3 26.09 –3.21 .1654 FlexGlbUpstmNatRsc GUNR 4.2 25.28 –0.93 .2545 IQHedgeMktNeut QMN ... 25.57 –0.13 ... InvscS&PSCMom XSMO 1.4 31.05 –2.08 .1662
PrincipalPriceSet PSET 1.5 34.80 –2.61 .136 AmCentSTOXXUSQual VALQ 3.0 33.14 –1.51 .2122 DirexSCBull3 TNA 1.6 19.46 –3.77 .1496 FSHiYdValScored HYGV 8.2 42.30 –0.46 .2239 IQ HedMultStra QAI 2.0 29.32 –0.14 .5878 InvscS&PSC600EW EWSC 2.5 38.38 –3.63 .1023
PrincipalShrhldrYd PY 3.1 24.27 –1.57 .1371 AmpAdvBattery BATT ... 7.73 –0.22 ... DirexKRBull3 KORU 2.9 8.38 –0.99 .19 FlexShiBoxx5YTIPS TDTF 2.3 26.35 +0.04 .0714 IQLeadersGTAATrkr QGTA 4.3 21.33 –0.32 .391 InvscS&P600PrGrw RZG 1.0 84.17 –5.38 .2701
AmplifyBlackSwan SWAN 1.1 29.52 –0.26 .0742 InvscS&P600PrVal RZV 1.8 38.40 –3.83 .1676
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PrincipalSustMom PMOM 2.0 24.36 –0.97 .152 DirexTechBear3 TECS 4.4 30.87 +1.01 .1304 FlexiBx3YDurTIPS TDTT 2.5 24.93 ... .0678 IQMacKayMuniIns MMIN 2.4 26.63 +0.21 .0528 InvscS&P600Rev RWJ 2.1 47.03 –2.12 .2659
PrincUSLCMulti PLC 1.7 23.52 –0.70 .1016 AmpCWPEnhDiv DIVO 6.0 27.28 –0.22 .1246 DirexTechBull3 TECL .2 170.08 –8.42 .1945 FlexShIntQualDiv IQDE 6.4 17.44 –0.59 .1528 IQMacKayMuniInter MMIT 2.6 25.65 +0.21 .0518
PrincipalUSMega USMC 2.2 28.81 –0.31 .1468 AmpCrowdBureau LEND 8.4 11.63 –0.46 .9809 DirexTransportBl3 TPOR 2.8 6.91 –1.66 .0135 FlexShIntQuDivDyn IQDY 5.3 20.19 –0.68 .139 IQMergerArbitrage MNA ... 31.26 –0.73 ... InvscS&PSCValMom XSVM 2.9 20.69 –1.89 .1889
PrincipalUSSCMulti PSC 1.8 23.33 –1.92 .0783 AmpEASITactGrw EASI .8 20.26 +0.69 .1005 Direx20+TreaBr1 TYBS 2.4 13.87 –0.22 .0823 FlexShIntlQualDiv IQDF 6.2 18.29 –0.57 .1764 IQRealReturn CPI 2.2 26.64 –0.22 .5929 InvscS&PSpin-Off CSD ... 31.70 –2.93 ...
PrincUSS-MCMulti PSM 2.2 18.93 –0.49 .0975 AmplifyHiIncm YYY 11.7 13.32 –0.43 .13 Direx20+TreaBr3 TMV 3.3 50.17 –2.57 .202 FlexShMDevMktxUS TLTD 4.7 48.61 –1.67 .2343 IQS&PHYLowVolBd HYLV 4.5 23.81 –0.24 .0846 InvscS&PUltDiv RDIV 6.3 24.19 –1.92 .2843
ProcureSpace UFO .7 17.13 –1.54 .0674 AmplifyOnlRetail XBUY .2 28.55 –0.12 .0602 Direx20+YrTrBull TMF .6 43.03 +1.94 .0993 FlexShEM FactTilt TLTE 4.3 40.82 –1.08 .0676 IQShrtDurBdUS SDAG 2.9 24.33 –0.02 .0286 InvscSrLoan BKLN 5.1 20.76 –0.28 .0782
ProShEquRising EQRR 3.4 26.10 –1.58 .224 AmpSeymCannabis CNBS .8 9.87 +0.16 .0771 DirexUtilBl3X UTSL 4.0 18.64 –1.40 .1473 FlexShQualDivDef QDEF 3.1 39.48 –1.15 .2599 IQ US RealEstSC ROOF 8.8 14.87 –1.93 .15 InvscSolar TAN .3 30.89 –1.32 .0908
ProShUltNdBio BIB ... 68.36 +3.66 ... AmplifyTransData BLOK ... 18.48 –0.03 ... DirexRussIntOvUS RWIU 3.8 40.91 ... .2646 FlexShQualDivDyn QDYN 4.2 38.39 –1.39 .6185 IQ UltShrtDur ULTR 2.2 49.01 +0.08 .0545 InvscTaxMuniBd BAB 3.6 31.74 +0.11 .095
ArkFinInnov ARKF .0 26.26 –0.08 .3008 InvscTotalRetBd GTO 2.4 54.83 +0.14 .1194
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

ProShUltPrQQQ TQQQ .0 72.89 –1.90 .0313 ArmorUSEquity ARMR ... 16.27 –0.15 ... DirexRussUSOvInt RWUI 1.4 59.40 –1.37 .3884 FlexShQualityDiv QDF 3.3 39.26 –1.22 .2635 IdeaNextVeh EKAR 1.3 18.88 –0.67 .2499 InvscTreaCollat CLTL 2.0 105.94 ... .1123
ProShUltShtQQQ SQQQ 5.6 10.80 +0.16 .0652 ArrowDJGlobalYd GYLD 11.9 10.47 –0.28 .072 DirexFlight FLYT .9 51.36 +0.27 .1209 FlexShReadyAcc RAVI 2.3 75.76 +0.14 .1126 iMDBiHedgeStrat DBEH .2 23.47 –0.09 .0183 InvscUltShtDur GSY 2.5 50.19 +0.08 .0848
ProShUltShNdBtech BIS 2.8 8.83 –0.64 .0264 AvantisEM AVEM .9 42.55 –0.99 .1895 DirexCyclODef RWCD 1.4 58.98 –2.25 .2294 FlexShSTOXXGlb NFRA 2.8 44.36 –1.23 .2185 iMDBiMgdFut DBMF .5 25.83 +0.11 .0174 InvscVRDOTaxFrWk PVI 1.0 24.98 +0.05 .0263
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SPDRDorseyWrightFx DWFI 3.5 22.34 +0.04 .0679 AvantisIntlEquity AVDE .8 41.74 –1.28 .1575 DirexDefOvCycl RWDC 2.3 48.97 +0.02 .2623 FlexShUSQualLo QLV 1.3 37.16 –1.01 .1175 ImpactNAACPMinrty NACP 1.2 21.53 –0.06 .0628 InvscVarRtPfd VRP 5.4 22.83 –0.43 .089
SoFiGigEcon GIGE ... 20.73 +0.30 ... AvantisIntlSCValue AVDV 1.0 40.06 –1.25 .2024 DirexDevOverEM RWDE 3.6 45.55 –1.51 .7107 FrankFTSEAsiaxJpn FLAX 2.6 19.36 –0.39 .3804 ImpactSustain SDGA 1.9 18.90 –0.33 .0858 InvscWildClnEngy PBW 2.0 30.78 –2.37 .1181
TigerChinaUS TTTN ... 31.31 +0.12 ... AvantisUSEquityETF AVUS 1.5 45.25 –1.56 .1527 DirexEmOvDevMk RWED 3.6 42.80 –0.79 1.1265 FrankFTSEAustralia FLAU 5.8 19.50 –0.25 .6893 ImpactShsYWCAWomen WOMN 1.3 21.17 –0.40 .0634 InvscZacksMC CZA 2.0 54.29 –3.39 1.0741
VanEckBiotech BBH .3 157.67 +5.04 .4724 AvantisUSSCValue AVUV 1.8 33.97 –3.24 .1042 DirexMSCILvL ESNG 1.3 46.82 –1.15 .1554 FrankFTSEBrazil FLBR 7.3 13.71 –0.67 .0589 IndSelSectorSPDR XLI 2.6 59.46 –3.65 .3958 InvscZacksMltIncm CVY 5.2 14.49 –1.07 .1823
VanEckFallAnglHYBd ANGL 5.7 26.60 –0.40 .1077 AwareUltShDur AWTM 2.7 48.58 –0.02 .092 DirexNasd100EW QQQE .8 52.99 –1.11 .0863 FrankFTSECanada FLCA 2.9 21.22 –0.69 .373 InfraCapMLP AMZA 47.2 17.27 –0.15 .25 iPathBloomCocoaTR NIB ... 27.81 –0.13 ...
VanEckGaming BJK 4.0 30.71 –1.56 1.2308 DirexRsLgOvSC RWLS 1.4 61.14 –0.52 .4185 FrankFTSEChina FLCH 2.1 23.55 –0.17 .4582 InfraCapREITPfd PFFR 7.5 19.44 –0.61 .12
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BNYMellonCoreBd BKAG ... 50.12 +0.13 ... iPathBloomCommTR DJP ... 16.43 –0.32 ...
VanEckPharm PPH 1.8 60.62 +0.43 .3374 BNYMellonEM BKEM ... 50.96 –1.12 ... DirexRs1000GrOvVal RWGV .5 74.60 +0.44 .1856 FrankFTSEEurope FLEE 3.9 19.43 –0.74 .3431 InfusiveComp JOYY ... 24.36 –0.28 ... iPathGSCI nts GSP ... 7.57 +0.32 ...
VanEckRetail RTH .9 122.49 +0.52 1.0901 BNYMellonHYBeta BKHY ... 50.16 –0.24 ... DirexRs1000ValOvGr RWVG 2.8 38.70 –2.42 .6916 FrankFTSEEurHdg FLEH 7.4 19.92 –0.57 .3083 InnovNextProto KOIN 1.7 26.95 –0.53 .466 iPathGoldETN GBUG ... 29.25 +0.78 ...
VanEckSemiconduc SMH ... 131.20 –5.45 ... BNYMellonIntl BKIE ... 50.87 –1.44 ... DirexRsSmOvLC RWSL 1.4 38.44 –2.85 .2968 FrankFTSEFrance FLFR 3.0 19.02 –1.01 .2828 InnovIBDBreakout BOUT ... 21.12 +0.18 ... iPathPBBroadCmod BCM ... 23.10 +0.02 ...
VanEckVideoGam ESPO .2 45.30 +1.45 .0834 BNYM ShDurCpBd BKSB ... 50.53 +0.17 ... DirexS&P500HiMin QMJ 1.4 47.65 –0.69 .1613 FrankFTSEGermany FLGR 3.2 17.74 –0.64 .0944 InnovIBDLdrs LDRS ... 18.98 +0.21 ... iPathPBCrudeOil OLEM ... 9.24 +0.04 ...
VangdEM GovBd VWOB 5.1 73.10 +0.07 .2544 BNYM LC Core BKLC ... 54.28 –1.00 ... DirexZacksMLPHiIn ZMLP 22.7 52.88 –0.71 2.40 FrankFTSE HK FLHK 3.6 21.35 –0.61 .4084 InnovatorIBD50 FFTY ... 31.54 +0.08 ... iPathBlmAgricult JJA ... 37.88 –0.57 ...
VangdGlblxUS RE VNQI 10.5 42.84 –2.13 3.6471 BNYM US MC Core BKMC ... 54.33 –2.22 ... DistillUSFundSt DSTL 1.1 27.71 –0.74 .2972 FrankFTSEIndia FLIN 1.2 17.19 –0.45 .0323 InnovLoupFrontier LOUP ... 26.33 –0.91 ... iPathBlmAlum JJU ... 32.18 –1.18 ...
VangdIntrCorpBd VCIT 3.3 91.30 +0.74 .218 BarclaysETN FI Enh FLEU ... 84.50 –1.26 ... EmgqEM Internet EMQQ 1.2 37.98 +0.38 .4549 FrankFTSEItaly FLIY 5.2 17.07 –0.61 .2244 InnovEAFEPwrJan IJAN ... 22.03 –0.42 ... iPathBlmCoffee JO ... 33.79 –1.40 ...
VangdIntermTrmTrea VGIT 2.0 70.57 +0.13 .0933 BarclaysFIEnhEur50 FFEU ... 58.30 –2.26 ... ETFMGAltHarvest MJ 7.3 11.99 +0.18 .10 FrankFTSEJapan FLJP 2.6 22.86 –0.22 .2976 InnovEAFEPwrJul IJUL .0 21.78 –0.22 .2347 iPathBlmCopper JJC ... 36.94 +0.32 ...
VangdIntlDivApp VIGI 2.3 60.70 –1.85 .1382 BarclaysETN HY FIYY ... 70.33 –4.78 ... ETFMG PrimeCyber HACK 1.5 41.44 –0.79 .58 FrankFTSEJapanHdg FLJH ... 22.17 –0.10 ... InnovEMPwrJan EJAN ... 24.26 –0.33 ... iPathBlmCotton BAL ... 33.95 +0.87 ...
VangdIntlHiDiv VYMI 5.5 46.02 –1.78 .2772 Barrons400ETF BFOR .8 35.01 –1.40 .295 ETFMGPrmJrSilv SILJ 1.7 10.72 +0.84 .17 FrankFTSELatAm FLLA 6.1 14.90 –0.85 .4592 InnovEMPwrJuly EJUL ... 24.04 –0.17 ... iPathBlmEnergy JJE ... 22.43 –0.23 ...
VangdLTCorpBd VCLT 3.8 100.48 +1.95 .3025 BlkRkUSEqRotat DYNF 1.9 24.39 –0.72 .1139 ETFMG PrimeMob IPAY .0 43.44 –1.44 .015 FrankFTSEMexico FLMX 4.6 14.56 –0.96 .3613 InspireCpBdImp IBD 2.3 25.50 +0.09 .0419 iPathBlmGrains JJG ... 39.29 –0.52 ...
VangdLong-TermTrea VGLT 2.0 101.68 +1.49 .1553 BlueStarIsrael ITEQ .0 43.36 +0.08 .01 ETFMGSitUltra VALT 1.9 48.88 +0.04 .0914 FrankFTSERussia FLRU 8.5 20.69 –0.42 .171 InspireGlblHope BLES 2.8 22.90 –1.18 .1337 iPathBlmIndMet JJM ... 36.10 –0.98 ...
VangdMBS VMBS 2.5 54.53 –0.13 .0951 BrandValueETF BVAL 1.4 14.45 –0.43 .2089 ETFMG TravelTech AWAY ... 15.24 –1.12 ... FrankFTSESAfrica FLZA 16.7 16.16 –0.67 .376 InspireIntlESGETF WWJD .9 20.77 –1.03 .0915 iPathBlmLivestk COW ... 32.56 –1.33 ...
VangdRuss1000 VONE 2.0 130.68 –3.09 .6364 BreakwDryBulk BDRY ... 4.17 –0.43 ... ETRACS Alerian MLP AMU 13.5 8.33 –0.06 .2726 FrankFTSE SKorea FLKR 2.6 17.55 –0.56 .4017 Inspire100ETF BIBL 1.5 27.45 –0.70 .0989 iPathBBloomNatGas GAZ ... 17.57 –2.39 ...
VangdRuss1000Grw VONG 1.1 180.05 –1.64 .4918 CP HY Trend HYTR 3.3 23.61 +0.02 .0105 ETRACSAlerianMLP AMUB 13.5 8.34 –0.07 .2726 FrankFTSESwitz FLSW 1.3 25.29 –0.44 .0169 InspireS/MC Impact ISMD 1.5 19.94 –1.23 .1116 iPathBlmNickel JJN ... 47.39 –2.22 ...
VangdRuss1000Val VONV 3.1 92.17 –4.09 .7137 CTracksETN2026 MLPE 15.4 10.53 +0.34 .4162 ETRACSAlernMLPInfr MLPB 14.1 11.19 –0.07 .3963 FrankFTSETaiwan FLTW 3.4 25.57 –0.57 .8586 InvscActvUSRlEst PSR 4.2 70.75 –6.26 .6982 iPathBlmPlatinum PGM ... 39.15 +0.80 ...
VangdRuss3000 VTHR 2.0 128.46 –3.28 .5821 CTrksETNsMillerHwd MLPC 14.5 7.43 +0.51 .2696 ETRACSBloomETN DJCB ... 11.31 +0.05 ... FrankFTSE UK FLGB 6.0 18.10 –0.86 .5304 InvscAero&Def PPA 1.7 49.51 –3.50 .2875 iPathBlmPrecMet JJP ... 59.94 +1.82 ...
VangdRuss2000 VTWO 1.7 100.85 –5.72 .1282 CannabisETF THCX 4.7 8.84 +0.19 .4176 S&P2xDivAristoETN SDYL 9.7 55.05 –7.70 .3074 FrankIntMunOpp FLMI 2.7 24.69 +0.06 .0526 InvscCA AMT-Fr PWZ 2.6 26.86 +0.25 .0586 iPathBlmSofts JJS ... 33.98 –0.13 ...
VangdRuss2000Grw VTWG .9 133.32 –3.90 .2343 ChgFinUSLCFoss CHGX 1.0 20.88 –0.43 .2009 ETRACSMonthPay2x SMHB 83.7 3.20 –0.64 .0659 FrankInvGradeCp FLCO 3.5 25.28 +0.10 .128 InvscCEFIncmComp PCEF 9.0 18.41 –0.64 .1465 iPathBlmSugar SGG ... 33.35 +0.16 ...
VangdRuss2000Val VTWV 2.7 73.18 –6.87 .1059 ETRACS2xLvHiDiv HDLB 27.1 8.48 –1.23 .0652 FrankMuniBd FLMB 2.5 26.28 +0.25 .0805 InvscChinaTech CQQQ .0 54.09 +0.20 .0052
n-

Velocity4xAUDUSD UAUD ... 10.81 –0.83 ... iPathBlmTin JJT ... 38.97 –0.56 ...
VangdSTCpBd VCSH 2.8 81.26 +0.40 .1691 Velocity4XCHFUSD UCHF ... 19.26 –0.13 ... ETRACS 2xLvWF LMLB 44.5 6.33 –1.13 .0305 FrankShtDurUSGovt FTSD 2.5 95.45 +0.02 .0995 InvscCleantech PZD .8 42.01 –1.64 .0749 iPathShillerCape CAPE ... 127.56 –4.36 ...
VangdShtTmInfltn VTIP 1.9 49.59 ... .3514 Velocity4XEURUSD UEUR ... 13.30 –0.14 ... ETRACSNYSEPick PYPE 13.4 12.51 +0.38 .4272 FrankUSCoreBd FLCB 2.2 25.86 +0.07 .0633 InvscCurrShAUD FXA .2 64.07 –1.16 .0058 iPathSilverETN SBUG ... 24.08 +1.81 ...
VangdShortTermTrea VGSH 2.0 62.27 +0.02 .0705 Velocity4XGBPUSD UGBP ... 13.23 –1.33 ... ETRACS2xMLvWF BDCY 73.3 5.58 –0.24 .8541 FrankUSLowVol FLLV 1.4 34.02 –0.81 .0859 InvscCurrShGBP FXB ... 117.41 –2.79 ... iShAAA-ARtdCorpBd QLTA 2.8 56.17 +0.61 .1171
VangdTotalBd BND 2.5 87.35 +0.40 .1738 Velocity4XJPYUSD UJPY ... 23.42 –0.51 ... ETRACS2xM092548 PFFL 16.0 15.51 –0.85 .1425 FranklinLibEM FLQE 7.7 23.03 –0.57 .2875 InvscCurrShCAD FXC .7 69.95 –0.87 .0559 iShA/PDividend DVYA 7.2 30.56 –1.00 .4375
VangdTotalCpBd VTC 3.3 88.37 +1.15 .2222 Velocity4xUSDAUD DAUD ... 41.40 +2.57 ... ETRACSUBSBloomberg UCIB ... 10.95 –0.08 ... FranklinLibQGlbDiv FLQD 4.2 24.05 –0.83 .0993 InvscCurrShEuro FXE ... 102.19 –0.19 ... iShAgencyBond AGZ 2.0 121.18 +0.57 .1564
VangdTotIntlBd BNDX 3.3 57.15 +0.01 .0465 Velocity4XUSDCHF DCHF ... 27.04 +0.12 ... ETRACSWFBusDev BDCZ 13.8 12.46 –0.19 .4474 FranklinGlbEquity FLQG 3.6 28.75 –0.50 .5623 InvscCurrShJPY FXY ... 88.35 –0.46 ... iShCMBSETF CMBS 2.7 54.07 +0.34 .1163
VangdTotIntlStk VXUS 3.7 44.22 –1.17 .1058 Velocity4XUSDEUR DEUR ... 39.67 +0.26 ... E-TRACS CMCI UCI ... 10.97 –0.06 ... FranklinIntlEquity FLQH .8 23.23 –0.31 .2437 InvscCurrShCHF FXF ... 94.41 –0.12 ... iShGovt/CreditBond GBF 2.4 123.36 +0.79 .1803
VangdTotWorldBd BNDW 2.9 80.66 +0.23 .1128 Velocity4XUSDGBP DGBP ... 34.32 +3.03 ... E-TRACS Food FUD ... 13.84 –0.41 ... GS ConnS&PGSCI GSC ... 11.31 –1.40 ... InvscDBComm DBC 2.3 11.20 –0.05 .2538 iSh10-20YTreasBd TLH 1.8 168.51 +1.17 .1954
no

Velocity3xLgSilver USLV ... 58.40 +11.95 ... Velocity4XUSDJPY DJPY ... 21.92 +0.42 ... E-TRACS Gold UBG ... 44.22 +1.07 ... GadsdenDynMult GDMA 1.8 25.18 +0.16 .0324 InvscDBAgriFd DBA 1.9 13.53 –0.34 .2572 iSh0-5YTIPSBd STIP 2.5 101.19 +0.02 .2854
VS2xVIXShortTerm TVIX ... 176.09 +10.57 ... ClearUltShMat OPER 1.7 100.12 +0.01 .04 E-TRACS Silvr USV ... 21.00 +1.66 ... GlbBetaSmartIncm GBDV 7.1 13.00 –0.36 .232 InvscDBBaseMet DBB 2.2 12.54 –0.33 .2725 iShBloomRollSel CMDY ... 36.53 –0.52 ...
VSInvVIXMedTerm ZIV ... 29.68 –2.09 ... ColumbiaDivFixed DIAL 3.2 20.50 –0.03 .049 ElemntsRogrAgri RJA ... 4.80 –0.01 ... GlbXAdaptiveUS AUSF 4.9 19.07 –0.92 .175 InvscDBEnerFd DBE 3.3 8.00 –0.01 .2623 iShCalifMuniBd CMF 2.0 61.55 +0.47 .1088
VSVIXShortTerm VIIX ... 77.69 +3.56 ... ColumbiaEMCoreXCh XCEM 2.9 20.03 –0.73 .5874 ElemntsRogrEngy RJN ... 1.17 +0.02 ... GlbXCopperMiners COPX 2.0 14.04 –0.55 .0546 InvscDBG10Curr DBV 1.5 22.72 –0.33 .3445 iShAggrAllocation AOA 2.8 50.52 –1.12 .1621
VicShDevEnhVol CIZ 2.8 25.44 –0.41 .0165 ColumbiaEMConsumer ECON ... 20.54 –0.28 ... ElemntsRogrMtls RJZ ... 7.64 +0.03 ... GlbXFTSENordReg GXF 2.9 18.94 –0.45 .0185 InvscDBGoldFd DGL ... 51.87 +1.23 ... iShConsAllocat AOK 2.7 34.96 –0.13 .0499
VicShDivAccel VSDA 1.6 30.88 –0.89 .0272 ColumbiaIndiaCnsmr INCO .4 33.00 +0.31 .12 ElemntsRogrTr RJI ... 3.59 +0.01 ... GlbX FTSE SE Asia ASEA 3.6 11.36 –0.44 .1565 InvscDBOilFund DBO ... 5.81 +0.01 ... iShCoreDivGrowth DGRO 2.7 35.05 –1.20 .2468
VicShEMHiDivVol CEY 5.8 18.13 –0.66 .0941 ColumbiaMultMun MUST 2.5 21.10 +0.13 .0407 ElemntsBiofuels FUE ... 4.75 +0.07 ... GlbXFertilizersPot SOIL 1.6 6.48 –0.38 .0244 InvscDBPrecMetls DBP 1.1 46.03 +1.42 .5253 iShCore5-10YUSDBd IMTB 2.8 51.55 +0.08 .1104
VicShEMVolWtd CEZ 2.9 20.09 –0.51 .0477 ColumbiaResEnhCore RECS .6 19.14 –0.48 .106 ElemntsGrain GRU ... 2.80 +0.04 ... GlbX GoldExplorers GOEX 1.4 29.68 +2.10 .4134 InvscDBSilverFd DBS ... 24.48 +1.85 ... iShGrwthAllocation AOR 2.8 43.35 –0.77 .1857
VicShIntlHiDivVol CID 5.7 22.73 –1.13 .0533 ColumbiaSustIntl ESGN 4.4 19.64 –0.76 .075 EnSelectSectorSPDR XLE 6.4 35.99 –2.79 .5658 GlbX GuruIndex GURU .4 31.68 –0.40 .061 InvscDBUSDBear UDN ... 19.64 –0.12 ... iShCoreHiDividend HDV 4.2 79.01 –2.71 .9144
VicShIntlVolWtd CIL 2.8 30.59 –1.60 .0708 ColumbiaSustUSEqu ESGS 3.3 22.32 –1.16 .169 ER Entrepreneur30 ENTR .1 20.26 +0.12 .0144 GlbXLithium&Batt LIT 2.0 24.91 –0.89 .2818 InvscDBUSDBull UUP 1.9 27.18 +0.15 .5261 iShCoreMSCIEM IEMG ... 43.02 –0.94 ...
VicShUSDiscEnhVol CSF 1.5 34.56 –2.17 .0338 CommSvsSPDR XLC .9 51.25 –0.61 .113 EthoClimateLeader ETHO .9 36.65 –1.39 .05 GlbX MLP&Energy MLPX 9.4 23.49 –0.48 .5405 InvscDefEquity DEF 1.3 48.64 –0.58 .6475 iShCoreMSCIEurope IEUR 4.3 38.05 –1.52 .3957
VicShUSEQIncmEnh CDC 3.3 43.46 –2.00 .065 CnsmrDiscSelSector XLY 1.4 115.48 –1.78 .4237 FIEnhEurope50ETN FIEE ... 99.27 –6.07 ... GlbX MLP MLPA 15.5 26.49 –0.26 .90 InvscDJIADiv DJD 3.5 31.95 –1.04 .2878 iShMSCIIntlDev IDEV 4.0 46.24 –1.46 .7708
VicShUS500EnhVol CFO 1.4 49.41 –1.01 .012 CnsStapleSelSector XLP 2.8 57.39 –0.73 .2874 FidelityCorpBd FCOR 3.0 52.81 +0.34 .131 GlbXMSCIArgentina ARGT 1.6 20.41 +0.27 .0778 InvscDynBiotech PBE .1 57.10 +1.27 .029 iShCoreMSCIPacific IPAC 4.0 49.01 –0.72 1.1496
VicShUS500Vol CFA 1.7 46.14 –1.85 .0397 CoreAlternative CCOR 1.2 27.89 –0.22 .14 FidelityDivRising FDRR 5.4 28.44 –0.95 .413 GlbXMSCIChinaCm CHIC .6 22.65 –0.33 .0499 InvscDynBuilding PKB .6 24.43 –2.01 .0192 iShModAllocation AOM 2.7 37.97 –0.35 .1888
VicShUSLCHiDivVol CDL 4.5 36.12 –2.19 .0839 CSFIEnhEur50ETN FEUL ... 56.52 –3.95 ... FidelityHiDiv FDVV 6.2 24.61 –1.11 .313 GlXMSCIChinaCnsDisc CHIQ 1.1 17.96 –0.15 .0514 InvscDynEnerExpl PXE 3.2 8.81 –1.11 .0436 iShCoreS&P500 IVV 2.2 287.16 –6.30 1.5314
VicShUSMultMin VSMV 2.4 28.97 –0.69 .0492 CS FI LC Grwth FLGE ... 304.42 –5.98 ... FidelityHYFactor FDHY 4.8 49.95 –0.45 .215 GlbXMSCIChCS CHIS 1.0 23.04 –0.17 .601 InvscDynFood&Bev PBJ 1.5 30.41 –0.69 .0745 iShCoreS&P MC IJH 2.2 157.70 –9.68 .8009
VicShUSSCHiDiv CSB 4.9 31.54 –3.01 .1547 CS S&P MLP MLPO 15.9 5.95 +0.43 .2428 FidelityIntlHiDiv FIDI 7.9 14.63 –0.70 .254 GlbXMSCIChinaEner CHIE 6.1 7.80 –0.29 .2881 InvscDynLCGrw PWB .5 49.90 –0.31 .0559 iShCoreS&P SC IJR 2.0 58.62 –4.77 .2519
VicShUSSCVolWtd CSA 1.8 33.65 –3.40 .0509 CSX Mthly2xLvMtg REML 155.3 2.38 –0.51 .0177 FidelityIntlValue FIVA 5.8 16.60 –0.60 .167 GlbXMSCIChinaFinl CHIX 4.7 13.45 –0.47 .4514 InvscDynLCValue PWV 3.0 31.56 –1.15 .2802 iShS&PTotlUSStkMkt ITOT 2.1 63.74 –1.68 .2691
VS3XInvrsGold DGLD ... 16.12 –1.27 ... DBCrudeOilDbSht DTO ... 97.00 –15.00 ... FidelityLtdTermBd FLTB 2.4 51.48 +0.22 .097 GlbXMSCIChinaHC CHIH .3 20.46 +0.44 .1088 InvscDynLeisure PEJ 1.0 25.75 –1.24 .0687 iShCore10+YUSDBd ILTB 3.2 72.64 +1.24 .185
VS 3X INV SILVER DSLV ... 11.86 –3.61 ... DBGoldDoubleLg DGP ... 39.91 +1.90 ... FidelityLowVol FDLO 2.3 34.47 –0.69 .167 GlbXMSCIChinaIT CHIK .7 20.78 +0.33 .2209 InvscDynMarket PWC 1.4 80.32 –2.57 .3297 iShCoreUSAggBd AGG 2.5 117.03 +0.57 .2363
VS 3X GOLD UGLD ... 196.50 +14.22 ... DBGoldDoubleShrt DZZ ... 3.89 –0.08 ... FidelityCommSvs FCOM 1.0 33.40 –0.57 .089 GlbXMSCIChLC50 CHIL 2.0 27.71 –0.29 .2183 InvscDynMedia PBS .5 28.08 –0.63 .0872 iShCoreUS REIT USRT 4.8 37.90 –3.81 .4348
WahedFTSEUSAShar HLAL 1.5 24.44 –0.64 .10 DBGoldShortETN DGZ ... 11.06 +0.07 ... FidelityMSCICnDisc FDIS 1.6 45.72 –0.66 .151 GlbXMSCIChinaMatls CHIM 4.4 14.69 –0.58 .4036 InvscDynNetwkg PXQ .3 58.66 –1.95 .0195 iShCurrHdgNikk400 HJPX 2.2 26.04 –0.06 .3679
WstAstShrtDur WINC 4.7 23.87 –0.14 .188 DayHaganNedRes SSUS ... 21.97 –0.20 ... FidelityMSCICnStpl FSTA 3.5 33.97 –0.55 .248 GlbXMSCIChRlEst CHIR 4.4 15.70 –0.76 .2624 InvscDynOil&GasSv PXJ 3.5 2.16 –0.17 .058 iShCurHdgMSCIUS HAWX 3.8 23.65 –0.47 .4535
WstAstTR WBND 3.2 26.57 +0.12 .0537 DeepValueETF DVP 9.7 18.77 –1.42 .7348 FidelityMSCIEn FENY 11.8 9.39 –0.70 .11 GlbXMSCIChUtil CHIU 2.5 13.31 –0.30 .1231 InvscDynPharm PJP .9 63.30 +0.41 .136 iShCurrHdgMSCIAus HAUD 5.1 21.57 +0.11 .5611
WisdTrChinaxSOE CXSE .9 84.47 +0.11 .024 DefianceNextGen FIVG 1.0 24.07 –1.28 .0528 FidelityMSCIFinls FNCL 4.4 29.67 –2.03 .29 GlbXMSCIColombia GXG 5.8 20.69 –1.83 .5846 InvscDynSemicon PSI .6 63.46 –2.81 .051 iShCurrHdgMSCICda HEWC 2.2 23.68 –0.49 .2321
M22 BARRON’S May 18, 2020

Exchange-Traded Portfolios
Tick Div Tick Div Tick Div Tick Div Tick Div Tick Div
Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt.
iShCurHdgMSCIEAFE HSCZ 4.3 24.98 –0.51 .4522 iShRussell3000 IWV 2.0 165.48 –4.00 .7221 PGIMQMAStrAlSCG PQSG 1.0 41.02 –0.66 .0608 ProShUltShRus2000 TWM 1.2 14.64 +1.44 .0207 SchwabEM Equity SCHE 4.1 21.86 –0.47 .7335 VangdFinls VFH 3.2 51.33 –3.45 .3691
iShCurHdMSCIEurozn HEZU 3.6 24.50 –1.02 .7588 iShMicro-CapETF IWC 1.6 74.80 –3.81 .2719 PGIMQMAStrAlSCV PQSV 2.5 32.96 –1.96 .0967 ProShUltShtS&P500 SDS 1.8 23.42 +0.94 .0569 Schwab5-10YCpBd SCHI 2.4 50.12 +0.41 .1088 VangdFTSEAWxUS VEU 3.7 42.82 –1.18 .1177
iShCurHdgMSCIItaly HEWI 5.8 13.06 –0.51 .1934 iShRussellMid-Cap IWR 1.9 48.09 –1.99 .266 PGIMUltraShBd PULS 2.7 49.40 +0.06 .0913 ProShrUSSemi SSG 2.1 9.57 +0.41 .0118 SchwabFundEmgLrg FNDE 4.8 21.36 –0.61 .8489 VangdGrowth VUG .9 183.15 –1.91 .3983
iShCurrHdMSCIJapan HEWJ 3.2 28.52 –0.18 .3945 iShRussellMCValue IWS 3.0 68.29 –4.16 .5893 PIMCO25+YrZeroCoup ZROZ 1.7 178.00 +4.56 .85 ProShUltShtSilver ZSL ... 23.64 –4.54 ... SchwabFundIntLrgCo FNDF 4.4 21.24 –0.78 .7005 VangdHlthCr VHT 1.5 191.30 +2.04 .445
iShCurHdgMSCIMex HEWW 4.5 13.35 –0.79 .2206 iShRussellTop200Gr IWY 1.1 97.59 –0.59 .2498 PIMCO ActiveBd BOND 3.2 109.38 +0.36 .26 ProShUlShtSC600 SDD .6 15.19 +2.02 .0142 SchwabFundIntlSmCo FNDC 3.6 25.26 –0.73 .7405 VangdHiDiv VYM 3.7 74.94 –2.37 .5544
iShCurrHdgMSCISK HEWY 2.6 18.71 –0.37 .0163 iShRussellTop200 IWL 1.9 68.82 –1.12 .2641 PIMCOBrdUSTIPSIdx TIPZ 2.1 62.44 +0.06 .15 ProShrUSTech REW 2.0 8.27 +0.19 .0097 SchwabFundUSBrd FNDB 2.9 33.27 –1.28 .2224 VangdIndls VIS 2.3 112.34 –7.05 .6553
iShCurHdgMSCISpain HEWP 5.7 15.62 –0.56 .3186 iShRussellTop200Vl IWX 3.0 46.54 –1.58 .3043 PIMCOEnhLowDur LDUR 3.1 100.39 +0.58 .23 ProShUltraSh20+ TBT 3.2 15.60 –0.52 .052 SchwabFundUSLrgCo FNDX 2.8 34.03 –1.24 .2249 VangdIntermBd BIV 2.6 91.30 +0.35 .1778
iShCurHdgMSCISwitz HEWL 2.1 28.22 –0.50 .5962 iShS&P100 OEF 2.0 132.54 –1.94 .5967 PIMCOEnhShMaturESG EMNT 1.8 99.91 +0.15 .16 ProShrUSUtil SDP .8 13.86 +0.67 .0118 SchwabFundUSSmCo FNDA 2.1 27.43 –2.18 .0827 VangdLC VV 1.9 132.27 –2.76 .639
iShCurrHdgMSCIUK HEWU 5.4 19.11 –0.40 .4212 iShS&PMC400Growth IJK 1.2 201.19 –8.69 .5072 PIMCOEnhShMaturity MINT 2.4 100.78 +0.13 .16 ProShUltShtYen YCS ... 73.72 +0.71 ... SchwabIntmUSTrsr SCHR 2.1 58.80 +0.09 .0861 VangdLT Bond BLV 3.1 108.94 +1.93 .2601
iShCybersecurity IHAK .3 29.04 –0.40 .1234 iShS&P500Growth IVW 1.3 189.88 –2.23 .5028 PIMCO15+USTIPSIdx LTPZ 2.1 83.19 +0.55 .29 ProShsVIXMTFut VIXM ... 40.95 +2.17 ... SchwabIntEquity SCHF 3.7 26.81 –0.76 .734 VangdMegaCap MGC 2.0 101.46 –1.93 .4619
iShUSBasicMaterial IYM 2.5 80.07 –3.09 .3409 iShGlobalEnergyETF IXC 7.4 18.62 –1.29 1.4818 PIMCOIntermMuniBd MUNI 2.3 54.78 +0.42 .10 ProShsVIXSTFut VIXY ... 30.06 +1.32 ... SchwabIntlSC SCHC 4.2 26.55 –0.84 .9543 VangdMegaGrwth MGK 1.0 148.24 –1.38 .3047
iShUSConsumerSvcs IYC 1.1 202.73 –3.81 .4896 iShGlobalHealthcr IXJ 1.4 68.17 +0.41 .4789 PIMCOInvGrdCorpBd CORP 3.2 109.56 +0.91 .28 Qraft AI US Hi Div HDIV ... 21.91 –0.26 ... SchwabLTUSTrea SCHQ 1.5 57.89 +0.85 .0773 VangdMegaVal MGV 3.2 69.87 –2.13 .5072
iShUSConsumerGoods IYK 2.5 117.57 –2.81 .586 iShGlobalTechETF IXN 1.1 209.41 –3.88 1.083 PIMCO1-5USTIPSIdx STPZ 2.3 52.48 –0.06 .14 QRAFT AI US LC QRFT .4 27.20 –0.37 .9867 Schwab1-5YCpBd SCHJ 1.8 50.39 +0.22 .083 VangdMC VO 1.9 147.49 –5.53 .7357
iShUSFinlServices IYG 2.4 108.19 –6.13 .7515 iShGloblFinancials IXG 4.2 46.53 –2.61 .8192 PIMCO DynMultEM MFEM 3.1 18.61 –0.50 .07 QRAFTAIUSLCMom AMOM .2 27.19 +0.08 .443 Schwab1000Index SCHK 2.1 27.97 –0.65 .1314 VangdMCGrowth VOT .9 148.54 –3.15 .2737
iShUSHealthcare IYH 1.2 215.38 +2.37 .6126 iShS&P500Value IVE 2.9 101.92 –3.67 .8217 PIMCO DynMultIn MFDX 3.8 20.53 –0.60 .11 QuadIntRtVol IVOL 3.3 26.75 –0.23 .0794 SchwabSrtTRmUSTrsr SCHO 2.0 51.68 +0.02 .0646 VangdMC Val VOE 3.1 86.29 –4.76 .7792
iShUSRealEstate IYR 4.1 68.96 –6.13 .5965 iShIntlDevProperty WPS 9.5 27.88 –1.74 .2731 PIMCO DynMultUS MFUS 2.5 25.56 –1.01 .17 RoboGlbAI THNQ ... 25.03 ... ... SchwabUS AggrBd SCHZ 2.6 55.64 +0.26 .1179 VangdRealEst VNQ 4.6 68.80 –6.19 .6479
iShUSUtilities IDU 3.2 135.90 –3.90 1.1087 iShGlobalConsDiscr RXI 1.8 105.93 –2.99 .7383 PIMCO RAFI ESG US RAFE 2.1 19.86 –0.17 .19 RoboGlbHlthTch HTEC ... 28.60 +0.16 ... SchwabUS BrdMkt SCHB 2.1 67.43 –1.71 .3374 VangdS&P500ETF VOO 2.0 263.04 –5.74 1.178

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iShUS Energy IYE 5.7 18.97 –1.42 .2608 iShGlobalUtilities JXI 4.0 49.94 –1.33 1.054 PIMCOShrtTrmMuniBd SMMU 1.6 50.50 –0.02 .06 RoboGlblRobotics ROBO .4 38.69 –1.21 .1558 SchwabUS Div SCHD 3.7 49.56 –1.25 .4419 VangdS&P500 Grw VOOG 1.3 171.15 –2.04 .446
iShUS Finls IYF 2.4 99.31 –6.11 .6973 iShGlobalMaterials MXI 4.4 55.45 –1.48 .0627 PIMCO0-5YrHiYdCorp HYS 5.6 86.77 –1.50 .34 RPAR RiskParity RPAR .8 20.31 –0.06 .0387 SchwabUS LC SCHX 2.1 68.31 –1.56 .3383 VangdS&P500Val VOOV 2.7 98.68 –3.57 .6316

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iShUSHealthcarePrv IHF .7 190.71 +0.76 .2986 iShGloblIndustrial EXI 2.3 72.86 –3.36 1.1015 PPTYUSDivrsRealEst PPTY 4.8 23.00 –2.30 .3008 RYZZ MgdFut RYZZ ... 21.71 –0.17 ... SchwabUS LC Grw SCHG .8 92.64 –1.00 .1668 VangdS&PMC400 IVOO 2.0 106.77 –6.58 .2657
iShUSInsurance IAK 3.0 47.74 –3.17 .5062 iShrsSP GSCI Cmdty GSG ... 9.15 +0.06 ... PacerAmEnIndepend USAI 11.8 14.80 –0.13 .1701 RealEstSectorSPDR XLRE 3.8 30.98 –2.37 .2018 SchwabUS LC Val SCHV 3.9 46.86 –1.83 .4183 VangdS&P400Grwth IVOG 1.4 124.51 –5.27 1.7219
iShUSOilEquip&Svcs IEZ 6.4 7.29 –0.68 .1158 iShS&PMC400Value IJJ 2.8 116.16 –10.01 .9947 PacerData&Infr SRVR 1.7 32.15 –1.53 .1568 RealityDIVS DIVY 2.0 18.37 –1.24 .5954 SchwabUS MC SCHM 2.0 46.61 –2.60 .1957 VangdS&P400Val IVOV 2.5 89.25 –7.60 2.2747
iShUSPharmaceuticl IHE 1.5 155.23 +4.27 .5866 iShS&PSC600Value IJS 2.6 102.83 –9.45 .5326 PacerIndRealEst INDS 2.2 27.71 –2.61 .1059 RenaissanceIPO IPO .4 33.83 +0.60 .0657 SchwabUS REIT SCHH 4.2 31.22 –3.32 .117 VangdS&P600 VIOO 2.0 106.88 –8.78 2.0859
iShUSRegionalBanks IAT 4.6 28.85 –3.62 .2701 iShGlblConStaples KXI 2.4 49.78 –0.83 .6042 PacerRetRealEst RTL 7.5 14.74 –0.74 .5481 RenaissanceIntlIPO IPOS .9 24.55 +0.15 .0301 SchwabUS SC SCHA 1.9 57.04 –3.28 .2301 VangdS&P600Grwth VIOG 1.4 125.56 –9.19 .2727
iShUSMedDevices IHI .3 257.60 –5.37 .0212 iShNATech-Mult IGN .7 46.48 –4.00 .1226 PacerCFRAStovall SZNE 1.7 24.85 –0.43 .2003 RivFrDynCoreIncm RFCI 2.4 26.12 +0.14 .0428 Schwab US TIPs SCHP 1.9 59.28 +0.11 .2386 VangdS&P600Val VIOV 2.4 88.97 –8.43 .3032
iShESGUSAggBd EAGG 2.4 55.93 +0.25 .0946 iShSelfDrvngEV IDRV 1.5 23.65 –0.82 .1721 PacerFTSECnA50 AFTY 4.8 15.68 –0.43 .752 RivFrDynUSDiv RFDA 2.3 29.84 –0.78 .0367 6MeridianHdg SIXH ... 25.08 ... ... VangdST Bond BSV 2.2 82.76 +0.13 .1364
iShShortNatlMuniBd SUB 1.5 107.22 +0.34 .1316 RivFrDynUSFlex RFFC 1.8 29.40 –0.97 .0316 VangdSC VB 1.8 128.24 –6.97 .4673

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iShEdgeMSCIIntlMom IMTM 2.3 28.47 –0.34 .2048 PacerMilitEmp VETS 2.0 26.09 –0.66 .1385 6MeridianLowBeta SIXL ... 24.85 ... ...
iShEdgeMSCIIntQual IQLT 2.7 26.81 –0.77 .2665 iShSilver SLV ... 15.51 +1.07 ... PacerTrendFd TRND 1.0 23.85 –0.04 .2496 RivFrDynUnconInc RFUN 4.9 24.17 –0.10 .1024 6MeridianMega SIXA ... 24.83 ... ... VangdTaxExemptBd VTEB 2.3 53.13 +0.36 .0934
iShEdgeMSCIIntSize ISZE 2.9 21.97 –0.64 .4598 iShTIPSBondETF TIP 2.1 121.55 +0.15 .2979 PacerTrendpilot PTIN 1.1 23.37 –0.04 .2587 RivFrStratIncm RIGS 4.1 23.50 ... .0957 6MeridianSC SIXS ... 24.94 ... ... VangdTotalStk VTI 1.9 143.83 –3.64 .6136
iShEdgeMSCIIntVal IVLU 4.8 17.77 –0.69 .3664 iShTreaFRBd TFLO 1.7 50.31 –0.02 .005 PacerTrendUSBd PTBD 2.2 25.77 –0.06 .123 RoundBitEsports NERD .3 16.75 +0.06 .0496 SmartTransport MOTO ... 23.02 –0.87 ... VangdTotlWrld VT 2.7 68.19 –1.73 .2205
iShEdgeMSCIMnVlEur EUMV 3.7 22.25 –0.84 .2154 iShDowJonesUS IYY 1.9 140.80 –3.49 .5765 PacerUSCashCows BUL 1.2 22.51 –0.98 .0611 SPDRBlackstoneSrLn SRLN 5.7 41.54 –0.20 .17 SoFi50ETF SFYF .9 17.34 –0.66 .1405 VangdUtilities VPU 3.3 120.18 –3.61 .8749
iShEdgeMSCIMinJapn JPMV 5.0 58.87 –0.61 .5574 iShChinaLC FXI 3.1 37.95 –1.12 .7883 PacificGlbIntlEq IDY 2.3 19.92 –0.63 .1238 SPDRBloomBarCvSecs CWB 3.2 53.78 –0.94 .0817 SoFiNext500 SFYX 1.3 8.56 –0.42 .0826 VangdValue VTV 3.2 94.30 –3.29 .7605
iShEdgeMSCIMultif ACWF 2.9 25.73 –0.80 .3271 iShRussellMCGrowth IWP .6 143.14 –2.55 .211 PacificGlbSrLoan FLRT 4.5 45.49 +0.05 .1533 SPDRBBCpBd SPBO 3.3 33.87 +0.40 .0892 SoFiSelect500 SFY 1.1 10.30 –0.31 .082 VelocityShares3xIn DGAZ ... 307.27 +89.93 ...
iShEdgeMSCIMultInt INTF 4.7 21.13 –0.70 .5513 iShUSBrokerDealers IAI 1.9 56.20 –2.33 .3946 PerthMintPhGold AAAU ... 17.39 +0.37 ... SPDRBloomBarEMLoBd EBND 4.8 25.30 +0.07 .0804 SPDR DJRlEst RWX 13.1 26.70 –1.51 .2155 VelocityShares3xLg UGAZ ... 15.21 –7.90 ...
iShEdgeMSCIMlIntSC ISCF 3.6 25.00 –0.58 .5096 iShUSTechBreak TECB 2.1 26.61 –0.16 .1418 PortfPlDevMk PPDM 4.7 17.30 –0.73 .1689 SPDR BlmBarcHYBd JNK 6.0 97.13 –1.27 .5169 SPDR DJREIT RWR 5.0 68.81 –7.35 .5829 VesperUSLCShort UTRN .7 25.47 –0.80 .8496
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iShEdgeMSCIMultUSA LRGF 2.2 28.76 –1.06 .1454 iShUSTech IYW .8 239.79 –3.43 .7253 PortfPlEM PPEM 6.0 16.29 –0.51 .5918 SPDRBloomBarInCpBd IBND .7 31.51 –0.44 .0157 SPDR DJIA Tr DIA 2.6 236.91 –6.71 .4623 VicShUSAACrIntBd UITB 3.0 52.26 +0.01
iShMultiUSA MC MIDF 2.0 22.76 +0.02 .0892 iShYdOptimizedBd BYLD 3.7 25.10 +0.06 .0747 PortfPlS&P500 PPLC 3.1 37.24 –1.12 .4031 SPDRBlmBarIntTrBd BWX 1.2 27.87 –0.12 .0235 SPDR EurSTOXX FEZ 3.6 29.50 –1.32 .0983 VicSh USAAShtBd USTB 2.7 50.30 –0.12 .1232
iShEdgeMSCIUSASC SMLF 1.9 31.62 –1.92 .1144 iSh0-5YHYCorpBd SHYG 5.9 41.28 –0.44 .205 PortfPlS&PSC PPSC 2.0 23.21 –2.60 .2518 SPDRBlmBarInvGrdFR FLRN 2.5 30.22 +0.07 .0448 SPDR MSCI exUS CWI 3.8 20.55 –0.54 .3931 VicShUSAA EMVal UEVM 3.3 35.19 –0.89 .8977

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iShEdgeMSCIUSASize SIZE 1.9 79.23 –3.02 .429 JPM AlerianMLP AMJ 13.5 13.24 –0.13 .4328 PrincipalActIncm YLD 5.7 34.42 –0.53 .1544 SPDRBloomBarc1-10Y TIPX 2.5 20.02 ... .0587 SpdrSPIntDiv DWX 5.9 30.67 –1.17 .2411 VicShUSAA IntlVal UIVM 3.7 34.84 –1.37 .0587
JanusHendMtg JMBS 3.4 53.48 +0.11 .1128 SPDRBloomBar1-3MTB BIL 1.6 91.53 ... .0143 VicSh USA SC Val USVM 2.2 39.66 –2.53 .01

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iShEM Dividend DVYE 8.5 29.80 –0.78 .3535 PrincInvGrdCp IG 3.8 25.53 +0.19 .0771 SPDR S&PMdCpTr MDY 1.8 288.02 –17.75 1.1098
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iShEuropeETF IEV 4.0 35.95 –1.38 .3056 JanusHenShrtDur VNLA 2.8 49.82 +0.03 .0652 PrincUltShtAct USI 2.9 24.95 +0.03 .0522 SPDRBloomBarSTHYBd SJNK 6.2 24.02 –0.26 .1325 SPDR S&P 500 SPY 2.0 286.28 –6.16 1.4056 VicShUSAA USAVal ULVM 2.3 40.96 –2.01
iShExpTech IGM .5 251.29 –3.05 .4078 HancockConsDisc JHMC 1.4 29.76 –0.84 .2254 ProShDJBrkGlIn TOLZ 3.7 37.54 –1.18 .2385 SPDRBloomBarSTInTr BWZ .4 29.57 –0.23 .0035 SPDR S&P Biotch XBI .0 102.67 +3.10 .0009 VidentUSBdStrat VBND 3.0 49.99 +0.51 .2072
iShFocusedValue FOVL 4.8 29.37 –3.02 .3569 HancockConsStpl JHMS 2.4 27.46 –0.47 .2904 ProShDecRetail EMTY .6 40.20 +1.61 .0166 SPDRDoubleTRTact TOTL 3.2 48.95 +0.12 .1265 SPDR SP China GXC 1.7 96.57 –1.11 .8073 VidentCoreUSEquity VUSE 2.0 24.53 –1.58 .0792
iShGenomicsImm IDNA ... 35.39 +0.99 ... HancockDevIntl JHMD 4.0 23.45 –0.68 .3468 ProShHdgReplic HDG .9 43.88 –0.59 .0421 SPDRDJGlbRealEst RWO 6.0 35.02 –3.03 .2787 SPDR S&P Div SDY 3.4 82.49 –4.98 .6687 VidentIntlEquityFd VIDI 4.4 18.16 –0.63 .0286
iShGlblComm IXP 2.3 57.89 –0.73 .447 HancockMultEM JHEM 3.1 20.59 –0.64 .1673 ProShInflationExp RINF 2.3 23.75 –0.44 .0368 SPDREUROSTOXXSC SMEZ 2.8 50.53 –1.06 .33 SPDR SP EmAsPac GMF 2.0 90.45 –1.50 .5886 VirtusInfrUSPfd PFFA 13.5 15.82 –0.83 .15

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iShGlobal100 IOO 2.2 48.82 –1.03 .6513 HancockEnergy JHME 10.9 13.06 –1.02 1.1549 ProShLgOnline CLIX ... 71.00 +2.38 ... SPDRIntGovBd WIP 2.9 49.26 –0.53 .0846 SPDR S&P Home XHB 1.2 36.13 –1.81 .1087 VirtusLifeSciBio BBC ... 41.11 +2.46 ...
iShGlobalREITETF REET 7.9 18.43 –1.66 .2604 HancockMultFinls JHMF 2.9 29.54 –1.67 .5206 ProShOnlRetail ONLN ... 45.57 +0.49 ... SPDRFactSetInnTech XITK .1 123.13 –0.04 .1604 SPDR IntlSC GWX 4.3 25.06 –0.56 .4098 VirtusLifeSciBio BBP ... 46.09 +0.51 ...
iShGoldTr IAU ... 16.67 +0.36 ... HancockHealthcare JHMH 2.4 37.39 +0.22 .6712 ProShRAFI L/S RALS 2.1 31.02 –0.24 .1353 SPDRGlobalDow DGT 3.4 70.79 –2.19 .3266 SPDR S&P MtlMng XME 3.4 18.96 –1.28 .0806 VirtusNewDynCredit BLHY 5.2 21.96 –0.11 .0582
iShiBoxx$InvGrCpBd LQD 3.2 128.55 +1.89 .3202 HancockIndustrials JHMI 1.7 29.82 –1.77 .3079 ProShS&P500Bd SPXB 3.4 88.69 +1.12 .2291 SPDRGoldMini GLDM ... 17.40 +0.38 ... SPDRS&POilGasExpl XOP 3.1 47.94 –5.65 .3785 VirtusNewMultiBd NFLT 4.5 23.11 +0.05 .0758
iShiBondsDec2020Cp IBDL 2.4 25.36 +0.10 .0455 HancockLC JHML 2.0 35.40 –1.04 .3978 ProShS&P500xEner SPXE 1.5 62.01 –1.29 .2051 SPDR Gold GLD ... 163.93 +3.51 ... SPDR S&P Pharm XPH .7 42.84 +1.03 .0717 VirtusPrvCrd VPC 14.8 16.21 –0.43 .35
iShiBdsDec2028Cp IBDT 3.0 27.58 +0.26 .0745 HancockMatls JHMA 2.4 27.17 –1.28 .2951 ProShS&P500xFin SPXN 1.6 61.42 –1.13 .2015 SPDRMFSSysCore SYE 1.9 77.10 –1.80 .2883 SPDR S&P Retail XRT 2.1 36.95 –1.08 .1749 VirtusRealAsset VRAI 4.9 17.53 –1.23 .15
iShiBondsDec2025Cp IBDQ 3.1 26.11 +0.10 .0621 HancockMultMedia JHCS .8 25.15 –0.49 .1655 ProShS&P500xHlth SPXV 1.9 58.70 –1.68 .2466 SPDRMFSSysGrowth SYG 1.0 89.77 –0.73 .0823 SPDR S&P Semi XSD .6 96.51 –6.66 .1158 VirtusReavesUtil UTES 2.3 34.33 –1.06 .16
iShiBondsDec2024Cp IBDP 3.0 25.70 +0.13 .0597 HancockMC JHMM 1.3 31.48 –1.42 .2378 ProShS&P500xTech SPXT 2.0 50.47 –1.28 .2417 SPDRMFSSysValueEqu SYV 2.8 55.08 –2.74 .3178 SPDRWelsFrg PSK 5.7 41.14 –0.57 .18 VolsharesLC VSL 1.4 28.28 –0.73 .0941
iShiBdsDec2029Cp IBDU 2.9 25.54 +0.25 .0567 HancockMultiSC JHSC 1.5 20.66 –1.37 .1961 ProShShtBasicMat SBM .4 18.67 +0.67 .0049 SPDRACWILowCarbon LOWC 2.5 84.84 –2.04 .9969 SprottGoldMiners SGDM .2 31.95 +1.35 .0631 WBIBullBrGlbIncm WBII 4.1 22.91 –0.17 .0223
iShiBondsDec2021Cp IBDM 2.6 25.05 +0.06 .0522 HancockTech JHMT 1.2 53.73 –1.58 .4311 ProShShtDow30 DOG 1.2 52.96 +1.29 .055 SPDREAFEFossilFr EFAX 3.3 58.56 –1.55 .7127 SprottJrGoldMiners SGDJ .6 34.33 +1.93 .2196 WBIBullBrQu3000 WBIL .6 25.66 –0.08 .0216
HancockUtils JHMU 3.2 27.71 –0.97 .4913 SPDRMSCIEAFEStrat QEFA 3.6 54.83 –1.62 .8598 WBIBullBrRsInc300 WBIE .8 25.88 –0.11 .0366

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iShiBdsDec2021Muni IBMJ 1.4 25.88 +0.05 .0315 ProShShortEuro EUFX ... 47.38 +0.08 ... SyntaxStratLC SSPY 1.9 41.16 –2.09 .7875
iShiBondsDec2027Cp IBDS 3.2 25.86 +0.24 .0671 JPMBeta US MC BBMC ... 52.24 –0.40 ... ProShShXinhuaCh25 YXI .8 19.24 +0.47 .011 SPDREMFossilFuelFr EEMX 3.1 53.55 –1.06 .2799 TacticalIncm TBND .6 22.34 –0.24 .137 WBIBullBrTdUS WBIT 5.0 16.70 –0.21 .1944
iShiBondsDec2026Cp IBDR 3.1 25.71 +0.21 .0632 JPMCorpBdResearch JIGB 3.4 55.05 +0.37 .1403 ProShShtFinls SEF .9 22.95 +1.27 .0196 SPDRMSCIEMStrat QEMM 3.8 48.71 –1.09 .5223 TechSelectSector XLK 1.3 93.47 –1.31 .3715 WBIBullBrTrdUSTR WBIN 7.4 16.06 –0.20 .0156
JPM DivAlt JPHF 5.7 19.00 –0.25 1.0819 SPDRMSCIUSAStrat QUS 2.1 83.54 –1.85 .7156 WBIBullBrVal3000 WBIF .7 25.46 –0.01 .0398
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iShiBondsDec2023Cp IBDO 2.9 25.77 +0.12 .0584 ProShShortHY SJB 1.0 21.91 +0.27 .0125 TeucriumAgriFd TAGS ... 15.88 –0.29 ...
iShiBondsDec2022Cp IBDN 2.7 25.41 +0.08 .054 JPM DivRetEM JPEM 4.8 41.98 –0.79 .1881 ProShShMSCI EAFE EFZ 1.1 28.49 +0.81 .0086 SPDRMSCIWorldStrat QWLD 2.5 74.32 –1.62 .8309 TeucriumCornFd CORN ... 11.93 –0.13 ... WBIBullBrYd3000 WBIG 1.6 22.33 –0.06 .0154
iShiBdsDec2022Muni IBMK 1.5
iShiBdsMar23CpxFin IBCE 2.7
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iShiBdsMar2023Cp IBDD 2.7 27.08 +0.16 .0605 JPM DivRetUS Eq JPUS 2.7 64.09 –2.35 .322 ProShShtOil&Gas DDG .4 32.47 +2.10 .023 SPDRNuveenSTMuniBd SHM 1.4 49.40 +0.18 .0547 TeucriumWheatFd WEAT ... 5.17 –0.20 ... WisdTrAPxJp AXJL .0 55.18 –1.66 .24
iShiBdsSep2020Muni IBMI 1.3 25.50 –0.04 .0283 JPM Div US MC JPME 2.3 54.69 –2.60 .2205 ProShShortQQQ PSQ 1.8 21.25 +0.12 .0448 SPDRPtfAggBd SPAB 2.7 30.52 +0.13 .064 TimothyHiDiv TPHD 3.2 19.68 –1.28 .0283 WisdTrUSDBull USDU 2.9 28.51 +0.20 .8163
iShiBoxx$HYCpBd HYG 5.6 78.71 –1.04 .3688 JPM Div US SC JPSE 1.9 23.48 –1.58 .0857 ProShShtRE REK .9 15.03 +1.16 .0079 SPDRPtfDevxUS SPDW 3.9 24.98 –0.73 .578 TimothyPlanIntl TPIF 2.1 20.26 –0.66 .0333 WisdTrCBOES&P500 PUTW 1.7 23.98 ... .4183
iShIntRtHdgCorpBd LQDH 3.2 85.97 +1.07 .2097 JPM EventDriven JPED 2.1 21.01 –0.48 .4372 ProShShtRus2000 RWM 1.2 42.53 +2.23 .0499 SPDRPtfEM SPEM 3.7 30.13 –0.69 .3821 TimothyUS LMC TPLC 1.1 22.56 –0.95 .0083 WisdTrChineseYuan CYB 2.1 24.64 –0.09 .5104
iShIntRateHdgEM EMBH 4.4 20.48 +0.06 .0611 JPM L/S JPLS ... 17.31 –0.34 ... ProShShrtS&P500 SH 1.4 24.48 +0.51 .0279 SPDR PtfEurope SPEU 4.0 27.71 –1.09 .2027 Timothy US SC TPSC 1.5 17.85 –1.45 .0199 WisdTrContComm GCC ... 15.01 –0.10 ...
iShIntRtHdgHiYdBd HYGH 5.2 77.67 –0.97 .3043 JPM MgdFutures JPMF 5.1 21.16 +0.19 1.0692 ProShSh7-10YrTr TBX 1.4 23.87 –0.09 .0229 SPDR PtfHYBd SPHY 6.9 23.31 –0.14 .1324 TortoiseNAPipeline TPYP 6.8 16.07 –0.53 .3098 WisdTrEmgCurr CEW ... 16.55 –0.02 ...
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iShJPM EM LC Bd LEMB ... 38.25 +0.01 ... JPMUSDEMSovBd JPMB 4.9 45.26 +0.15 .1404 ProShSh20+Tr TBF 1.9 15.28 –0.26 .0351 SPDR PtfIntTrea SPTI 1.6 33.18 +0.05 .0285 TrendAggGrowth TAAG ... 25.54 +0.36 ... WisdTrEM HiDiv DEM 6.2 33.97 –1.00 .0325
iShJPX-Nikkei400 JPXN 2.2 55.87 –0.32 .7807 JPM US Dividend JDIV 4.7 20.23 –1.06 .1949 ProShShtVIXST SVXY ... 32.96 –1.25 ... SPDRPtfLTCorpBd SPLB 3.7 29.86 +0.59 .0853 TrendAggDiv TADS ... 25.15 –0.06 ... WisdTrEMLocDebt ELD 5.7 30.37 –0.16 .14
iShLatinAmerica40 ILF 5.9 17.86 –1.16 .5705 JPMUSMinimumVol JMIN 2.2 26.43 –0.74 .1327 ProShUltBscMtls UYM 2.0 37.34 –2.90 .1227 SPDRPtfLgTermTrea SPTL 1.9 47.70 +0.71 .0698 TrueMarkESGActive ECOZ ... 25.51 –0.19 ... WisdTrEMMulti EMMF 3.6 18.72 –0.39 .0625
iShLtCorpBd IGLB 3.7 65.96 +1.19 .2058 JPM US Moment JMOM 1.2 28.46 –0.47 .0763 ProShUltBlmCrude UCO ... 18.61 +1.23 ... SPDR PtfGSM SPGM 2.9 36.16 –1.03 .6111 TrueMarkTechAI LRNZ ... 29.82 +1.19 ... WisdTrEM SC DGS 5.2 35.90 –0.91 .0633
iShACWILowCarbon CRBN 2.5 110.94 –2.99 1.5289 JPM USQualFactor JQUA 1.8 28.35 –0.64 .0923 ProshUltBlmNatGas BOIL ... 36.23 –10.93 ... SPDRPtfMtgBkdBd SPMB 3.1 26.82 –0.07 .0677 UBSNatGasMLPETN MLPG 18.4 9.32 –0.12 .4576 WisdTrEuropeHdg HEDJ 2.6 53.74 –2.16 .1012
iShMSCIAustralia EWA 5.4 16.66 –0.26 .4562 JPM US Value JVAL 3.8 21.80 –1.12 .2181 ProShUltCommSvs XCOM .7 45.77 –1.34 .0158 SPDRS&P500Value SPYV 3.0 27.38 –0.99 .2219 UBS FIEnhGlbHY FIHD ... 124.61 –6.83 ... WisdTrEuropeHdgSM EUSC 4.2 24.83 –0.86 .0276
iShMSCIAustria EWO 4.8 13.61 –0.72 .1161 ProShUltCnsGds UGE 1.3 38.39 –1.94 .1118 UBS FIEnhLCGrw FBGX ... 305.24 –5.48 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

KFADynFixIncm KDFI 3.3 20.72 –0.17 .0332 SPDRPtfS&P1500 SPTM 2.1 34.86 –0.87 .2014 WisdTrEurQualDiv EUDG 2.7 23.00 –0.43 .1131
iShMSCIBRICETF BKF 2.0 37.56 –0.68 .2394 KFA LCQualDiv KLCD .9 22.70 –0.59 .2031 ProShUltCnsSvs UCC .2 93.30 –3.07 .0395 SPDRPtfS&P500 SPLG 2.1 33.60 –0.75 .1778 E-TRACS DJ Cmd DJCI ... 11.30 –0.15 ... WisdTrEuropeSC DFE 5.8 42.96 –2.33 .4349
iShMSCIBelgium EWK 3.8 14.60 –0.58 .3476 KFA SCQualDiv KSCD .8 19.97 –1.46 .1621 ProShUltDow30 DDM 1.1 34.32 –1.87 .124 SPDRS&P500Growth SPYG 1.4 41.11 –0.51 .1359 UBSWellsFargoETN BDCS 13.8 12.48 –0.12 .4474 WisdTrFRTrea USFR 1.7 25.12 ... .005
iShMSCIBrazil EWZ 5.4 22.25 –1.17 .0973 KnowldgLdrDevWrld KLDW 1.1 31.53 –0.60 .3599 ProShUlt Euro ULE ... 12.59 –0.13 ... SPDRS&P500HiDiv SPYD 7.1 25.46 –1.69 .3962 E-TRACS AlrInfr MLPI 14.1 11.16 –0.09 .3963 WisdTrGlbxUSQual DNL 2.5 57.45 –0.91 .245
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iShMSCICanadaETF EWC 2.7 23.73 –0.83 .3939 KraneBoseraChinaA KBA 1.6 31.09 –0.68 .4987 ProShUltFTSEEurope UPV .9 29.18 –2.31 .0668 SPDRPtfS&P400MC SPMD 2.2 27.73 –1.70 .1374 USCF SummerDynCom SDCI 1.2 12.87 –0.13 .0332 WisdTrGlbxUSREFd DRW 10.9 21.91 –1.23 .5689
iShMSCIChinaSC ECNS 3.6 36.49 –0.63 .6113 KraneCCBSChCpHY KCCB 4.6 38.89 +0.68 .1529 ProShXinhuaChina25 XPP 5.2 47.99 –2.63 .1488 SPDRPtfS&P600SC SPSM 2.3 22.77 –1.88 .0993 USCF SummerSHPEI BUY 1.2 13.28 –1.43 .0414 WisdTrGlbHiDiv DEW 5.0 35.54 –1.32 .3154
iShMSCIColombia ICOL 5.6 7.47 –0.61 .2378 KraneCICCChina KFYP ... 24.87 –0.70 ... ProShUltFinls UYG 2.2 24.08 –3.10 .1164 SPDRPtfSTCpBd SPSB 2.6 30.97 +0.06 .0581 USEquCumDiv2027 IDIV 15.3 8.93 –0.51 .085 WisdTrS&PChina500 WCHN .0 27.94 –0.45 .38
iShMSCI EAFE EFA 3.9 55.16 –1.68 1.3761 KraneCSIChInt KWEB .1 50.64 +0.74 .0413 ProShUltraGold UGL ... 62.81 +3.12 ... SPDRShtTermTrea SPTS 1.8 30.73 +0.02 .018 USEquityxDiv2027 XDIV ... 61.50 –0.93 ... WisdTrIndiaEarn EPI 1.1 17.66 –0.36 .0173
iShMSCIEmgMarkets EEM 2.7 36.03 –0.81 .929 KraneEFdChina KCNY 3.0 31.05 –0.09 .0647 ProShUltHlthCr RXL .3 117.13 +2.39 .1534 SPDR PtfTIPS SPIP 2.6 29.76 +0.05 .0845 USGlbGOGold GOAU .1 20.17 +1.21 .0275 WisdTrIndiaxSOE IXSE ... 19.06 –0.10 ...
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iSh MSCI EM SC EEMS 3.5 34.48 –0.74 .8515 KraneElcVehicle KARS 2.0 21.79 –0.79 .4351 ProShUltraHY UJB 4.6 58.76 –1.26 .1813 SPDRRuss1000LowVol ONEV 2.8 66.31 –3.35 .4055 U.S.GlobalJetsETF JETS 3.3 12.00 –1.64 .3911 WisdTrIntDivxFin DOO 5.2 32.48 –0.82 .2085
iShMSCIFranceETF EWQ 3.5 23.07 –1.32 .0691 KraneEMCnsTech KEMQ 1.9 21.93 –0.25 .4219 ProShUltIndls UXI 1.1 47.37 –5.21 .1795 SPDRRuss1000Mom ONEO 2.1 60.94 –2.86 .3007 USVeganClimate VEGN 1.2 24.95 –0.64 .0664 WisdTrIntlEquity DWM 4.3 40.33 –1.29 .1909
iShMSCIFrontier100 FM 4.3 22.18 –0.71 .7928 KraneEMHlthcrIndex KMED 1.6 23.41 +0.07 .3789 ProShUltBrazil UBR 2.7 13.76 –1.49 .0321 SPDRRuss1000Yd ONEY 4.8 51.55 –3.47 .5511 UtilitiesSelSector XLU 3.6 54.81 –1.35 .474 WisdTrIntlHdgQual IHDG 2.2 32.78 –0.22 .0455
iShMSCIGermanyETF EWG 3.3 22.70 –0.88 .7381 KraneChinaHlthCr KURE .2 26.97 –0.14 .0573 ProShUltMSCIEAFE EFO .5 24.76 –1.48 .0536 SPDRMomentumTilt MMTM 1.8 125.03 –1.45 .5423 VanEckMerkGoldTr OUNZ ... 17.03 +0.35 ... WisdTrIntlHiDiv DTH 5.6 29.82 –1.10 .2002
iShMSCIGlblAgriPrd VEGI 2.4 22.15 –1.19 .2688 KraneAllChina KALL 1.6 24.68 –0.38 .384 ProShUltMSCIEM EET 2.2 46.52 –2.35 .0086 SPDRS&P1500ValTilt VLU 2.9 88.72 –4.53 .6253 VanEckAfrica AFK 8.7 14.70 –0.32 1.2858 WisdTrIntlLC Div DOL 4.3 37.12 –1.12 .189
iShMSCIGloblEnProd FILL 6.5 11.50 –0.70 .3136 KraneMSCIChinaEnv KGRN ... 17.56 –0.43 ... ProShUltMC400 MVV 1.4 23.04 –3.01 .0677 SPDR S&P500MidGr MDYG 1.4 48.21 –2.15 .111 VanEckAgribus MOO 1.7 53.11 –1.84 .9091 WisdTrIntlMC Div DIM 4.3 48.62 –1.39 .1484
iShMSCIHongKong EWH 3.2 20.55 –0.73 .2085 KraneEMxChina KEMX 3.8 19.19 –0.15 .7363 ProShUltOilGas DIG 8.4 69.64 –11.12 .5363 SPDR S&P400MidVl MDYV 3.0 37.25 –3.24 .2926 VanEckBDCIncome BIZD 13.7 10.75 –0.14 .3562 WisdTrIntlMult DWMF 3.2 21.79 –0.43 .0446
iShMSCIIndonesia EIDO 2.9 15.63 –0.77 .0458 KraneSh1Belt1Road OBOR 5.5 19.06 –0.42 1.0473 ProShUltraQQQ QLD .1 120.96 –1.84 .0091 SPDRS&P600SmallCap SLY 2.0 50.63 –4.16 .222 VanEckBrazilSC BRF 5.7 12.32 –0.77 .6972 WisdTrIntlSC DLS 4.9 50.75 –1.68 .287
iShMSCIIreland EIRL 3.0 32.34 –1.83 .4262 LCGrowthETN2028 FRLG ... 132.28 –2.18 ... ProShrUltraRE URE 2.6 41.29 –7.72 .1373 SPDR S&P600SCpGr SLYG 1.4 48.83 –3.49 .1227 VanEckChinaGrwth GLCN 1.7 36.80 –0.45 .6157 WisdTrJapanHdg DXJ 3.0 44.20 –0.30 .065
iShMSCIIsrael EIS 2.4 49.35 –1.95 .1696 LeaderAlphaUSCore LSAF .9 20.90 –1.02 .0402 ProShrUltraRus UWM 1.1 37.75 –4.64 .0484 SPDR S&P600SCapVal SLYV 2.7 41.99 –3.88 .2625 VanEckChinaBond CBON 3.9 22.28 –0.09 .0666 WisdTrJapanSC DFJ 2.7 61.40 –0.56 .06
iShMSCIItaly EWI 5.6 19.96 –0.83 .2036 LeaderShEqSkew SQEW ... 24.30 ... ... ProShUltraS&P SSO .7 107.87 –4.82 .1976 SPDR Aero Dfns XAR 1.4 74.97 –6.53 .4312 VanEckSMEChiNxt CNXT .4 31.03 –0.85 .135 WisdTrMgdFut WTMF 1.7 35.59 +0.06 .6039
iShMSCIJapan EWJ 2.3 51.71 –0.63 .716 LeutholdCore LCR ... 24.21 +0.03 ... ProShUltSemi USD .9 47.70 –2.47 .0726 SPDRS&PBank KBE 3.9 26.66 –3.37 .1618 VanEckCoal KOL 16.4 64.16 –2.86 10.546 WisdTrModTech PLAT .3 28.58 –0.16 .0806
iShMSCIJapanSC SCJ 5.2 63.40 –0.65 1.1913 MatlsSelSectorSPDR XLB 2.4 50.87 –1.61 .2699 ProShrUl7-10Trs UST .9 75.97 +0.45 .1103 SPDRS&PCapitalMkts KCE 2.8 50.45 –2.09 .4021 VanEckEgypt EGPT 2.7 22.61 +0.20 .6047 WisdTrMtgPlBdFd MTGP 2.4 50.89 +0.16 .0925
iShMSCIKLD400Soc DSI 1.6 109.24 –2.26 .5179 MerlynAIBullBr WIZ .4 25.02 –0.62 .0124 ProShUltSilver AGQ ... 25.69 +3.71 ... SPDREmMktsDiv EDIV 5.5 23.39 –0.78 .1849 VanEckEM AggBd EMAG 5.0 20.14 +0.91 .0678 WisdTr90/60USBal NTSX 1.0 28.35 –0.60 .0368
iShMSCIKokusaiETF TOK 2.4 62.84 –1.56 .6994 MicroSecCannabis MJJ ... 45.71 +0.90 ... ProShUltSC600 SAA .7 45.90 –7.96 .1626 SPDR S&P EM SC EWX 3.4 36.46 –0.56 .4201 VanEckEMHYBond HYEM 7.0 20.67 +0.04 .1094 WisdTrUSDivxFin DTN 4.6 68.10 –3.02 .135
iShMSCIMalaysiaETF EWM 3.5 23.64 –0.04 .3114 MicroSecCannabis2X MJO ... 37.82 +1.43 ... ProShUltTech ROM .2 150.60 –4.12 .1376 SPDRS&P500Buyback SPYB 2.9 52.85 –3.80 .6109 VanEckEnerIncm EINC 11.2 35.66 –1.35 .5745 WisdTrUSHiDiv DHS 4.5 58.86 –2.46 .145
iShMSCIMexico EWW 4.6 28.90 –1.96 .434 MicroFANG+ETN FNGS ... 64.78 +0.47 ... ProShUltTelecom LTL 1.4 29.64 –2.87 .1861 SPDRS&P500Fossil SPYX 1.8 70.66 –1.49 .3329 VanEckEnvironSvcs EVX .6 80.24 –5.39 .4715 WisdTrUSLCDivFd DLN 3.1 87.18 –2.63 .17
iShMSCINetherlands EWN 3.1 27.84 –1.03 .1386 MicroSectFANG+Invr GNAF ... 30.87 –0.26 ... ProShUlt20YrTr UBT 1.1 138.34 +4.29 .3198 SPDRS&PGlbDividend WDIV 6.3 48.53 –2.39 .5756 VanEckGoldMiner GDX .5 36.57 +1.71 .1905 WisdTrUSLCFd EPS 2.2 30.74 –0.88 .1793
iShMSCIPacificxJp EPP 5.0 35.80 –0.82 .8424 MicroFANG-3XInvr FNGD ... 3.62 –0.12 ... ProShrUltraUtil UPW 1.9 43.01 –2.53 .2586 SPDRS&PGlbInfr GII 4.6 40.46 –1.20 .8724 VanEckGreenBd GRNB 2.1 27.04 +0.11 .0574 WisdTrUSMCDivFd DON 4.1 25.08 –1.95 .06
iShMSCIPeru EPU 3.8 26.01 –0.56 .6657 MicroSectorsFANG3X FNGU ... 69.48 +1.19 ... ProShUltVIXST UVXY ... 39.23 +2.18 ... SPDRS&PGlbNatRes GNR 5.2 34.04 –1.57 .9578 VanEckIndiaGrwth GLIN 2.0 21.32 –0.62 .4239 WisdTrUSMCFd EZM 2.3 28.30 –2.24 .1702
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iShMSCIPhilippines EPHE 1.1 23.84 –0.87 .2371 MicroFANG-2XInvr FNGZ ... 15.61 –0.27 ... ProShUltraYen YCL ... 56.22 –0.59 ... SPDRS&PHlthCareEqp XHE .0 84.58 –1.41 .0032 VanEckIndonesia IDX 3.4 13.97 –0.44 .4723 WisdTrUSQualShr QSY 2.0 70.41 –3.87 .2917
iShMSCIPoland EPOL 3.7 14.22 –0.42 .4887 MicroSectFANG+2X FNGO ... 68.08 +0.84 ... ProShUltDow30 UDOW 1.2 50.41 –4.27 .08 SPDRS&PHlthCareSvs XHS 2.7 63.00 –0.60 .0327 VanEckIntlHYBd IHY 5.8 21.86 ... .1112 WisdTrUSSCDiv DES 4.2 18.27 –1.75 .025
iShMSCIRussia ERUS 10.1 31.00 –0.70 .6448 MicroUSBigBkInv KNAB ... 53.60 +3.26 ... ProShUltMC400 UMDD 1.3 35.85 –7.35 .0625 SPDRS&PInsurance KIE 2.6 24.33 –1.67 .1592 VanEckInvtGrFR FLTR 2.8 24.72 +0.11 .042 WisdTrUSSCFd EES 2.3 23.93 –2.24 .1353
iShMSCISaudiArabia KSA 2.7 24.44 –0.07 .301 MicroUSBigBk3X BNKD ... 29.25 +6.65 ... ProShUltRus2000 URTY .5 23.00 –4.51 .1182 SPDRS&PInternetETF XWEB .6 87.99 –0.93 .0219 VanEckIsrael ISRA 1.6 31.20 –1.20 .4849 WisdTrUSTotalDivFd DTD 3.2 83.88 –3.00 .19
iShMSCISingapore EWS 6.4 17.67 –0.75 .6824 MicroUSBigBk3X BNKU ... 9.20 –3.13 ... ProShUltS&P500 UPRO .7 36.00 –2.51 .0566 SPDRS&PKenCleanPwr CNRG 1.7 41.44 –2.55 .3091 VanEckJPMEMLCBd EMLC 6.9 28.98 +0.04 .123 WisdTrUSTMFd RESP 2.7 30.49 –0.90 .1687
iShMSCISouthAfrica EZA 6.5 31.45 –1.23 1.3147 MicroUSBigBk2X BNKZ ... 45.31 +7.33 ... ProShUltShtDow30 SDOW 2.1 33.90 +2.33 .0662 SPDRS&PKenFinalFr ROKT .9 26.42 –2.08 .0526 VanEckJrGold GDXJ .4 45.92 +2.83 .1638 WisdTrYdUSAggBd AGGY 3.0 53.03 +0.16 .125
iShMSCISthKorea EWY ... 49.90 –1.89 ... MicroUSBigBk2X BNKO ... 20.91 –4.47 ... ProShShtMC400 SMDD 1.1 25.41 +3.80 .0079 SPDRS&PKenFut FITE 1.3 33.03 –1.89 .3114 VanEckLong/Flat LFEQ 1.6 26.77 –0.47 .4348 XtrkrsFTSEDevXus DEEF 4.7 22.74 –0.77 .0827
iShMSCISpain EWP 5.5 19.52 –0.72 .6781 MicrUSBigOilInv YGRN ... 58.63 +1.27 ... ProShShtRus2000 SRTY 1.7 18.61 +2.60 .0332 SPDRS&PKenInt SIMS 1.7 25.27 –1.54 .0456 VanEckLowCarbon SMOG ... 69.11 –3.00 ... XtrkrsHarvCSI300 ASHR 1.1 27.26 –0.74 .2899
iShMSCISweden EWD 5.2 26.36 –1.39 .9489 ProShUltS&P500 SPXU 2.4 15.83 +0.91 .0416 VanEckMtgREIT MORT 16.9 10.42 –1.14 .368
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MicrUSBigOil3InLv NRGD ... 32.70 +6.48 ... SPDRS&PKenNewEc KOMP .9 32.25 –1.18 .0646 XtrkrsHarvCSI500 ASHS .6 27.87 –0.33 .1573
iShMSCISwitz EWL 2.1 36.51 –0.74 .7499 MicrUSBigOil3Lev NRGU ... 3.51 –0.97 ... ProShUltShrt20YTr TTT 3.8 28.28 –1.54 .0867 SPDRS&PKenSmart HAIL 2.0 24.13 –1.64 .1507 VanEckNatRscs HAP 3.7 27.26 –1.21 1.00 XtrkrsHiBetHYBd HYUP 7.8 41.69 –0.52 .2312
iShMSCITaiwan EWT ... 36.45 –0.84 ... MicrUSBigOil2InLv NRGZ ... 51.17 +1.89 ... ProShUltShtAUD CROC ... 65.59 +2.19 ... SPDRS&PNAmNatlRscs NANR 2.4 28.13 –1.01 .2825 VanEckOilRefin CRAK 2.1 19.89 –1.07 .4134 XtrkIntlRealEst HAUZ 5.1 21.28 –1.28 .2465
iShMSCIThailand THD 3.2 65.67 –0.03 .0608 MicrUSBigOil2Lev NRGO ... 13.29 –2.38 ... ProShUSBscMtls SMN .5 24.30 +1.67 .0206 SPDRS&POil&GasEq XES 4.6 26.77 –2.37 .2683 VanEckOilSvcs OIH 5.7 101.23 –8.98 5.81 XtrkrsJpnJPXNik400 JPN 2.8 25.27 –0.22 .3648
iShMSCIUSAESGSelct SUSA 1.7 122.54 –2.58 .4672 MSCushMLPHI MLPY 21.1 2.64 –0.01 .1445 ProShUltBloomCrd SCO ... 32.65 –3.36 ... SPDRS&PRegionalBkg KRE 4.3 32.04 –4.50 .3371 VanEckPfdSecsxFin PFXF 6.1 17.80 –0.25 .0692 XtrrsLowBetHYBd HYDW 4.8 47.53 –0.51 .1845
iShMSCIUSAEqWeight EUSA 2.1 51.58 –2.12 .3224 NationwideMaxDivUS MXDU 1.8 28.58 –0.37 .5206 ProShUltShBlmGas KOLD ... 60.24 +12.61 ... SPDRS&PSft&Svs XSW .4 97.79 –2.50 .3234 VanEckRareEarth REMX 2.1 30.99 –0.37 .6441 XtrkACWIxUSESGLd ACSG 3.8 22.94 –0.58 .4749
iShMSCIUK EWU 5.8 24.17 –1.18 .5988 NationRiskBaseIntl RBIN 3.1 21.90 +0.27 .6829 ProShUltShCmSvs YCOM 2.6 22.55 +0.50 .0537 SPDRS&PTechHardwr XTH .9 64.14 –4.49 .1229 VanEckRealAsset RAAX 3.1 19.37 +0.14 .6087 XtrkrsMSCIAllChina CN 4.4 32.59 –0.50 1.4423
iShMSCIWorldETF URTH 2.5 84.87 –2.14 1.2137 NationRiskBasedUS RBUS 2.0 28.00 –0.10 .563 ProShUSCnsmrGd SZK 1.4 10.94 +0.49 .0084 SPDRS&PTelecom XTL 1.0 64.71 –3.85 .1505 VanEckSteel SLX 4.3 22.47 –1.93 .9715 XtrkrsMSCIAWxUS HDAW 5.1 19.38 –0.84 .1291
iShMorningstarLC JKD 2.6 160.66 –3.83 .7728 NationRiskMgd NUSI 7.5 26.15 –0.57 .1684 ProShUSCnsmrSvc SCC 2.3 12.15 +0.14 .0034 SPDRS&PTransport XTN 1.8 44.81 –3.39 .1765 VanEckUnOil&Gas FRAK 3.4 58.65 –5.35 2.00 XtrkrsMSCIAWxUS DBAW 3.4 24.35 –0.52 .3967
iShMornLCGrowth JKE .5 216.63 –2.10 .2261 NatixisShrtDur LSST 2.5 25.40 +0.03 .0445 ProShUltDow30 DXD 1.5 23.29 +1.08 .0384 SPDRSSGAFxScRt FISR 3.4 31.55 +0.01 .0476 VanEckUranium NLR 2.8 41.43 –1.19 1.1787 XtrkMChinaAIncl ASHX .8 20.04 –0.54 .3737
iShMornLCValue JKF 3.6 91.79 –3.15 .8882 NatixisSeeyondIntl MVIN 6.2 36.79 –0.46 1.5161 ProShUltShEuro EUO ... 28.89 +0.12 ... SPDRGenderDivers SHE 2.2 66.09 –1.72 .316 VangdCnsmrDiscr VCR 1.2 176.44 –2.87 .366 XtrkESGLeaders EASG 3.6 21.81 –0.61 .3024
iShMorningstarMC JKG 1.7 163.96 –8.63 .681 NoShoreGlUran URNM ... 26.67 –2.06 ... ProShUltChina50 FXP .9 58.76 +3.11 .0207 SPDR US LC Low Vol LGLV 2.3 95.44 –3.63 .4686 VangdCnsmrStpls VDC 2.6 145.79 –2.16 .6177 XtrkrsMSCIHiDiv HDEF 5.2 18.51 –0.65 .1296
iShMornMCGrowth JKH .3 263.16 –2.92 .1086 NuvESGHYCorpBd NUHY 6.0 22.80 –0.14 .1072 ProShrUltShFTSEEur EPV .7 34.51 +2.49 .0143 SPDR SSGA US XLSR 1.5 30.55 –0.59 .1249 VangdExtMkt VXF 1.4 103.22 –4.69 .166 XtrkrsMSCIEAFE DBEF 3.7 28.01 –0.60 .3446
iShMorningstarSC JKJ 1.9 133.04 –9.96 .676 NuvESGUSAggBd NUBD 2.4 26.78 +0.06 .049 ProShUltShFin SKF .9 16.95 +1.79 .0084 SPDR US SC LowVol SMLV 4.0 65.77 –6.62 .4538 VangdInfoTech VGT 1.2 247.68 –3.73 .8409 XtrkrsMSCIEMESG EMSG 4.3 22.58 –0.48 .7681
iShMornSCGrowth JKK .3 195.27 –5.06 .0594 NuvEnhYd1-5Y NUSA 2.8 25.29 +0.07 .0595 ProShUltShGold GLL ... 37.29 –2.00 ... SPDRSolactCda ZCAN 3.2 49.55 –1.87 .6064 VangdMatrls VAW 2.4 108.17 –4.24 .5386 XtrkrsMSCIEM DBEM 3.0 20.48 –0.38 .1808
iShMornSCValue JKL 4.0 89.54 –8.64 .9131 NuvEnhYdUSAgg NUAG 3.8 25.30 +0.18 .1192 ProShrUSHlthCr RXD 1.8 13.67 –0.32 .0167 SPDRSolactGermany ZDEU 3.3 46.28 –1.69 ... VangdSC Grwth VBK .6 177.86 –4.92 .2471 XtrkrsMSCIEurope DBEU 3.4 25.28 –0.78 .2428
iShNatlMuniBd MUB 2.4 113.49 +0.88 .2203 OShsFTSEEurQltyDiv OEUR 4.3 20.30 –0.63 .0632 ProShrUSInd SIJ 1.1 12.37 +1.05 .038 SPDRSolactHK ZHOK 3.2 54.76 –1.74 .7535 VangdSC Val VBR 2.8 92.76 –7.68 .3999 XtrkrsMSCIEurozone DBEZ 3.7 25.77 –1.09 .1662
iShNewYorkMuniBd NYF 2.1 56.53 +0.40 .098 OShRussSC Qu OUSM 2.8 22.21 –1.68 .0437 ProShUltra7-10 PST 2.0 15.35 –0.10 .0175 SPDRSolactJpn ZJPN 2.7 68.19 +0.27 .7168 VangdCommSvcs VOX 1.0 87.96 –1.53 .1857 XtrkrsMSCIGermany DBGR 2.6 23.15 –0.81 .0096
iShResRealEst REZ 4.0 53.58 –4.72 .503 OShFTSEUSQual OUSA 2.8 31.45 –0.67 .0679 ProShUltBrazil BZQ .9 34.26 +3.12 .0185 SPDRSolactUK ZGBR 6.4 37.24 –1.75 1.2589 VangdDivApp VIG 1.9 110.90 –2.93 .474 XtrkrsMSCIJapan DBJP 3.0 36.93 –0.24 1.09
iShRobotics&AI IRBO .7 25.89 –0.46 .1155 OShGlbInternet OGIG ... 32.15 +0.44 ... ProShrUS MSCI EAFE EFU .6 25.77 +1.43 .0083 SPDRSSgAGlbAll GAL 3.5 34.58 –0.61 .1392 VangdEnergy VDE 5.8 47.68 –3.55 .672 XtrkUSAESGLdrs USSG 1.8 26.46 –0.55 .1103
iShRussell1000Gwth IWF 1.0 175.14 –1.59 .4254 OpusSCValue OSCV 2.8 19.26 –1.20 .1269 ProShUltMSCIEM EEV .9 42.13 +1.85 .0261 SPDRSSgAIncmAllctn INKM 5.3 28.59 –0.69 .2379 VangdExDurTreas EDV 2.0 170.09 +3.77 .8378 XtrkrsMuniInfra RVNU 2.6 27.23 +0.24 .0497
iShRussell1000 IWB 2.0 158.14 –3.62 .7438 OverlayCoreBd OVB 2.7 25.79 +0.10 .25 ProShrUS MSCI Jpn EWV .3 27.28 +0.51 .0421 SPDRSSgAMultiAsset RLY 4.6 19.90 –0.46 .0701 VangdAWxUSSC VSS 4.1 86.31 –2.29 2.15 XtrkrsRussell1000 DEUS 2.3 28.74 –1.35 .1574
iShRussell1000Val IWD 3.1 104.99 –4.60 .7935 OverlayFgnEqu OVF 4.7 21.49 –0.44 .4999 ProShUltMC400 MZZ 1.1 16.20 +1.67 .0143 SPDRSSgAUltraShrt ULST 2.4 39.85 +0.18 .0559 VangdFTSEDevMk VEA 3.7 34.86 –1.04 .1312 XtrkRuss1000USQu QARP 2.3 26.06 –0.82 .1399
iShRussell2000Gwth IWO .8 183.36 –5.43 .3193 OverlayLCEq OVL 1.4 23.80 –0.75 .065 ProShrUSOilGas DUG .4 53.52 +6.71 .0289 SPFdsDJGlbSukuk SPSK 1.8 19.77 +0.14 .029 VangdFTSE EM VWO 4.0 35.76 –0.74 .0581 XtrkS&P500ESG SNPE 1.9 25.19 –0.42 .1494
iShRussell2000 IWM 1.7 125.08 –7.28 .4199 OverlayMuniBd OVM 2.8 24.67 +0.17 .25 ProShUltShtQQQ QID 3.4 15.97 +0.18 .0654 SPFdsS&P500Sharia SPUS 1.1 19.41 –0.29 .0048 VangdFTSE Europe VGK 4.2 44.47 –1.72 .2458 XtrkrsShDurHYBd SHYL 6.6 43.06 –0.57 .2659
iShRussell2000Val IWN 2.9 83.53 –7.97 .4505 PGIMActHYBd PHYL 7.1 36.56 –0.14 .2107 ProShrUSRlEst SRS 1.3 22.28 +3.28 .0237 SageESG InterCred GUDB 2.5 50.96 –0.05 .0984 VangdFTSE Pac VPL 3.2 58.25 –0.89 .0115 XtrkrsUSDHYCorpBd HYLB 6.3 44.90 –0.58 .2019
May 18, 2020 BARRON’S M23

Complete FOREIGN EXCHANGE LIST: Page M34 Foreign Markets Key Cross Rates $1=€0.9243, ¥107.06, £0.8260

Europe GLOBAL STOCK MARKETS Asia


Long Haul: Prospects of a lengthy recovery In Local Currencies 1
In U.S. Dollars Bleak Friday: On Friday, the U.S. barred its tech
weighed on the continent and the U.K. Week's Week's companies from dealings with China’s Huawei.
Index % Chg. 5/15 52-wk Range % Chg. 5/15 52-wk Range
-3.85% S&P Europe BMI The World –2.3 1552.6 1874.3– 1251.5 –2.6 2008.4 2435.0– 1602.1 -0.46% S&P Pan Asia BMI
E.A.F.E.2 –2.3 963.0 1219.1– 842.4 –3.3 1594.7 2057.7– 1354.3
Denmark 0.66 Australia 0 1059.9 1434.7– 910.3 –1.9 607.1 872.8– 467.9 Malaysia 1.23
Austria –5.3 366.1 584.8– 273.9 –5.8 748.3 1222.9– 560.7
-1.62 Switzerland Belgium –5.7 742.6 1169.3– 644.9 –6.2 995.8 1602.7– 867.7 Thailand 0.90
Canada –2.1 1852.0 2271.5– 1430.3 –3.2 1422.6 1856.1– 1063.8
-2.23 Greece Denmark 1.0 9752.6 10485.5– 7757.5 0.6 10613.3 11367.5– 8380.3 Australia 0.36
Finland –4.1 605.4 766.4– 492.2 –4.6 434.5 554.9– 353.7
-2.59 U.K. France –5.7 1560.0 2210.8– 1356.1 –6.2 1426.5 2055.9– 1241.8 -0.09 China
Germany –4.0 795.4 1048.0– 639.1 –4.5 1609.8 2153.2– 1295.2
-3.18 Netherlands Greece –1.3 35.3 62.2– 29.7 –1.8 14.1 25.8– 11.9 -0.42 Japan
Hong Kong –2.0 14110.1 18289.5– 12302.7 –2.0 10108.0 13018.0– 8808.8
-3.20 Norway Ireland –3.1 194.8 251.4– 152.4 –3.6 160.7 214.6– 125.9 -0.52 New Zealand
Italy –3.8 543.4 835.4– 490.8 –4.2 189.8 291.1– 175.6
-3.36 Italy Japan –0.5 876.4 1053.1– 754.2 –1.3 2945.2 3462.4– 2503.2 -0.61 Taiwan
Netherlands –3.2 1647.4 2022.8– 1339.8 –3.6 2929.7 3616.3– 2386.2
-3.76 Germany New Zealand 0.5 182.9 194.0– 150.5 –3.0 164.7 186.9– 129.5 -0.91 South Korea
Norway –2.4 2431.7 3077.5– 2130.0 –3.2 1692.9 2519.3– 1377.6
-3.93 Sweden Portugal3 –6.1 85.8 113.1– 74.0 –6.5 60.8 80.0– 51.9 -0.96 India
Singapore –2.7 1346.7 1790.3– 1178.7 –3.7 2903.8 4055.6– 2483.6
-4.54 Finland Spain –4.4 622.9 974.0– 589.8 –4.9 283.5 442.2– 275.0 -1.59 Hong Kong
Sweden –4.5 11750.1 15073.5– 10157.6 –5.7 6159.7 8070.5– 5094.4
-4.67 Spain Switzerland –1.6 1286.3 1511.4– 1105.4 –2.1 5679.1 6600.7– 4831.4 -1.65 Philippines
U.K. –2.4 1646.3 2211.0– 1428.2 –4.9 831.8 1196.0– 683.9
-5.20 Belgium U.S.A. –2.3 2741.8 3236.7– 2128.1 –2.3 2741.8 3236.7– 2128.1 -2.24 Singapore
Base Jan. 1, 1970=1001Adjusted for foreign exchange fluctuations relative to the U.S. $.
2Europe, Australasia, Far East Index.3Base: Jan. 1, 1988=100.
-5.60 France -4.32 Indonesia
Source: Morgan Stanley Capital International Perspective, Geneva.
Indexes based on S&P Global Broad Market Indices Source: S&P DJ Indices Indexes based on S&P Global Broad Market Indices Source: S&P DJ Indices
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

KEY FOREIGN STOCK MARKET INDEXES S&P Global Broad Market Indices
S&P Global S&P Global SP Global Point
Most Recent Week’s Year-to-Date Most Recent Week’s Year-to-Date Indexes, Indexes, Indexes, Chg. % Chg.
Close %Chg. Chg. % Chg. Close %Chg. Chg. % Chg. Region/ Local Curr. Wkly U.S. $ Wkly U.S. $ on From From
Country 05/15/20 % Chg. 05/15/20 % Chg. 12/31/19 12/31/19 12/31/19
Amsterdam AEX 500.31 –3.89 –104.27–17.25 Mexico City IPC 35691 –5.14 –7849.63–18.03 Americas 304.05 — 2.65 352.84 — 48.79 — 13.83
Brazil 772.64 — 3.79 150.35 — 5.01 321.59 — 171.24 — 53.25
Athens General 593.26 –1.79 –323.41–35.28 Milan FTSE All Share 18462 –3.21 –7166.56–27.96 Canada 447.60 — 2.08 404.14 — 3.13 512.59 — 108.45 — 21.16
Chile 257.76 — 5.14 137.28 — 4.49 197.06 — 59.78 — 30.34
Bangkok SET 1280.76 +1.16 –299.08–18.93 Moscow RTS 1107.49 –2.54 –441.43–28.50 Mexico 590.27 — 5.05 199.59 — 5.99 310.96 — 111.37 — 35.82
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

U.S. 28903.31 — 2.59 28903.31 — 2.59 33035.38 — 4132.06 — 12.51


Bombay Sensex 31097 –1.72 –10156–24.62 Oslo Composite 827.75 –2.12 –204.49–19.81 Latin America 158.92 — 5.32 304.77 — 145.85 — 47.86
Europe 307.68 — 4.33 408.14 — 100.46 — 24.62
Brussels Bel-20 2932.21 –4.13 –1023.62–25.88 Paris CAC 4277.63 –5.98 –1700.43–28.44 Austria 213.24 — 6.18 191.49 — 6.64 299.44 — 107.95 — 36.05
Belgium 280.84 — 5.20 252.19 — 5.67 368.41 — 116.22 — 31.55
Santiago Selective 2534.28 –5.20 –801.58–24.03 Denmark 1889.64 0.66 1718.43 0.21 1769.38 — 50.95 — 2.88
Buenos Aires Merval 39388 +8.86 –2283.08 –5.48
Finland 1185.32 — 4.54 1064.38 — 5.02 1329.35 — 264.97 — 19.93
Sao Paulo Bovespa 77556 –3.37 –38088–32.94 France 320.61 — 5.60 287.90 — 6.07 412.89 — 124.99 — 30.27
Copenhagen OMX 20 1177.76 +0.64 +41.97 +3.70
Germany 387.10 — 3.76 347.60 — 4.24 455.73 — 108.13 — 23.73
Seoul Composite 1924.96 –1.07 –272.71–12.41 Greece 13.69 — 2.23 13.46 — 2.72 23.73 — 10.27 — 43.29
Dublin ISEQ 5277.98 –4.17 –1905.43–26.53
Ireland 551.13 — 3.83 494.90 — 4.30 665.38 — 170.48 — 25.62
Shanghai Composite 2868.46 –0.93 –181.67 –5.96 Italy 167.18 — 3.36 150.12 — 3.84 217.35 — 67.22 — 30.93
EURO STOXX SXXE 308.49 –4.31 –95.45–23.63
Netherlands 581.78 — 3.18 522.42 — 3.66 624.39 — 101.96 — 16.33
Shenzhen B Share Idx 846.64 +0.34 –114.98–11.96 Norway 491.00 — 3.20 336.49 — 3.91 500.64 — 164.16 — 32.79
EURO STOXX 50 SXSE 2770.70 –4.73 –974.45–26.02
Portugal 53.91 — 6.33 52.98 — 6.80 68.24 — 15.26 — 22.36
Singapore FTSE STI 2523.55 –2.64 –699.29–21.70 Russia 1887.69 — 2.04 202.18 — 2.71 290.94 — 88.76 — 30.51
Frankfurt DAX 10465 –4.03 –2783.84–21.01 Spain 293.08 — 4.67 263.17 — 5.15 399.59 — 136.42 — 34.14
Stockholm OMXS 577.91 –4.14 –102.91–15.12 Sweden 1109.63 — 3.93 798.31 — 5.12 982.90 — 184.59 — 18.78
Helsinki OMHX 8240.63 –4.29 –1634.03–16.55 Switzerland 560.45 — 1.62 840.63 — 2.07 940.04 — 99.40 — 10.57
STOXX Europe 50 SXSP 2767.09 –3.10 –635.94–18.69 United Kingdom 230.79 — 2.59 185.32 — 5.15 267.99 — 82.67 — 30.85
Hong Kong Hang Seng 23797 –1.79 –4392.28–15.58 South Africa 752.75 — 2.50 198.00 — 3.81 316.49 — 118.49 — 37.44
STOXX Europe 600 SXXP 328.24 –3.76 –87.60–21.07 Pacific Region 202.62 — 1.07 238.86 — 36.23 — 15.17
Istanbul IMKB 99768 +1.97 –14656–12.81 Australia 387.12 0.36 360.45 — 1.59 485.26 — 124.81 — 25.72
Sydney S&P/ASX 200 5404.80 +0.25 –1279.27–19.14
China 466.13 — 0.09 562.87 — 0.20 590.76 — 27.89 — 4.72
Jakarta Composite 4507.61 –1.95 –1791.93–28.45 Hong Kong 410.91 — 1.59 410.96 — 1.59 477.15 — 66.20 — 13.87
Taipel Weighted 10814 –0.79 –1182.22 –9.85
India 875.45 — 0.96 455.15 — 0.98 624.41 — 169.26 — 27.11
Johannesburg All Share 49628 –2.70 –7455.38–13.06 Japan 113.70 — 0.42 132.30 — 1.23 155.29 — 22.99 — 14.81
Tel Aviv 125 Index 1330.77 –5.70 –285.93–17.69
Malaysia 212.21 1.23 127.66 0.88 156.90 — 29.24 — 18.64
Kuala Lumpur Composite 1403.44 +1.53 –185.32–11.66 New Zealand 358.52 — 0.52 414.10 — 4.00 494.63 — 80.53 — 16.28
Tokyo Nikkei-225 20037 –0.70 –3619.15–15.30
Philippines 279.86 — 1.65 220.05 — 2.25 313.51 — 93.46 — 29.81
LISBON PSI 2867.26 –3.90 –497.99–14.80 Singapore 148.52 — 2.24 170.99 — 3.18 224.34 — 53.35 — 23.78
Toronto S&P/TSX 14638 –2.19 –2424.53–14.21
South Korea 738.75 — 0.91 1017.26 — 1.80 1222.99 — 205.73 — 16.82
London FTSE - 100 5799.77 –2.29 –1742.67–23.10 Taiwan 107.19 — 0.61 117.12 — 0.70 129.43 — 12.31 — 9.51
Vienna ATX 2130.85 –5.15 –1056.09–33.14
Thailand 284.88 0.90 427.03 1.41 567.16 — 140.12 — 24.71
Euro Zone 108.60 — 4.92 148.72 — 40.12 — 26.98
Madrid IBEX 35 6474.90 –4.54 –3074.30–32.19 Wellington S&P/NZX 50 10730 +0.33 –761.22 –6.62
Europe Developed (ex U.K.) 403.64 — 4.07 520.07 — 116.42 — 22.39
Europe (Nordic) 838.29 — 3.44 1005.63 — 167.35 — 16.64
Manila Composite 5541.95 –1.42 –2273.31–29.09 Zurich Swiss 9483.10 –1.89 –1133.84–10.68
Pacific (ex. Japan) 272.20 — 0.96 321.74 — 49.54 — 15.40
World (ex US) 169.78 — 2.59 214.75 — 44.97 — 20.94
Indexes are based on local currencies. Because of various holidays and other market closings, the most recent close is not necessarily S&P Global Broad Market Indices 233.65 — 2.59 279.60 — 45.95 — 16.43
that of the week of publication. GLOBAL DOW 2549.76 — 3.44 3251.24 — 701.48 — 21.58
s2020 S&P Dow Jones Indices. All Rights Reserved.
M24 BARRON’S May 18, 2020

Mutual Funds Data provided by

Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr.
NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. CASH TRACK NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret.
American Century I: GrowthA p 29.27 -0.47 -6.0 30.3 DivOppty tn 7.25 -0.24 -18.2 5.1
A CaHYMu 10.37 0.07 -4.5 10.6
Stockouts: Cash left stocks for bonds, with equity fund outflows bringing their weekly
MktNeutA p 13.30 -0.04 -1.0 9.5 GlbTechGw I 42.05 -0.43 2.0 69.3
DivBnd 11.36 0.05 4.5 14.1 MktNeutI 13.13 -0.04 -1.0 10.4 HYMuni I 9.77 0.07 -8.1 6.2
AAM: EmgMkt 10.05 -0.15 -17.2 -0.6 Calvert Investments: IncOppty n 8.92 -0.06 -10.3 3.3
B&GIncGroClI 16.86 -0.46 -14.6 19.2 EqInc 7.58 -0.21 -16.8 7.5 average drain to $10.3 billion. Taxable bond funds gained $10.3 billion, on average, while Bal A 33.00 -0.37 -5.4 21.8 IntmMunBd I 10.25 0.05 -1.8 7.6
AB Funds:
AlBeGblBndFdClZ p 8.40 0.00 -0.3 9.0
Growth 36.68 -0.27 1.0 52.7 $300 million left muni-bonds. Money-market fund receipts averaged $66.8 billion. Eq A p 53.70 -0.73 -2.7 57.4 LgCapGr 13.16 0.08 1.2 47.4
IntTF 11.31 0.07 -1.6 9.0 Carillon Eagle: LgCpGrow I n 46.28 -0.34 1.0 46.9
AllMktRtrn1 6.62 -0.28 -23.5 -14.2 MdCapVal 12.87 -0.68 -24.5 -8.3 Equity Funds Municipal Bond Funds MdCpGrA p 63.26 -0.53 -4.0 37.3 LgCpIdx I n 46.16 -1.05 -10.8 25.7
CapFdInc.LCapGow 64.82 -0.21 2.9 60.3 OneChoice2025 13.45 -0.17 -6.4 11.7 6400 3900 Carillon Reams: MdCpIdx I n 12.22 -0.76 -23.1 -4.8
DiscovValFd 12.99 -1.19 -34.0 -24.4 OneChoice2030 11.68 -0.16 -7.2 12.0 CorePlBd I 34.78 -0.03 7.9 20.0 MidCapGth I 24.30 -0.31 -5.7 33.7
IntDurInstl 15.56 0.05 2.5 13.2 OneChoice2035 14.46 -0.23 -8.1 12.1 UnconstrndBd I 12.07 -0.07 1.0 8.8 SelComunInfo tn 81.76 -3.33 -8.2 43.2
IntlStraEquPtZ 10.05 -0.28 -18.9 -7.8 SmCapVal 5.30 -0.52 -34.1 -19.9 1600 -200 Carillon Scout: SelMdCpVal I p pn 7.96 -0.52 -29.5 -12.4
MuniIncmShares 10.96 0.07 -8.2 8.9 American Century Ins: Intl I 13.83 -0.69 -26.2 -13.0 SmCpIdx I n 16.56 -1.35 -29.8 -12.2
MuniInflStr1 9.60 0.03 -5.9 1.0 CAIntTf 11.84 0.07 -1.2 8.7 MidCap I r 15.78 -0.67 -17.0 4.1 StratInc I 5.50 0.01 -6.5 5.3
AB Funds - A: American Century Inv: -3200 -4300 CausewayInst : TaxEZ n 12.89 0.07 -4.0 8.2
BalWlthStrA p 13.53 -0.24 -14.6 -1.4 Balanced n 18.37 -0.20 -3.7 19.8 CausewayInst 10.91 -0.55 -30.2 -23.3 TotReBd I 9.25 0.03 1.2 13.2
GlobalBondA p 8.41 0.01 -0.4 8.0 CaHYMu n 10.37 0.07 -4.7 9.9 -8000 -8400 Chartwell: USGvtMtg tn 5.53 0.02 0.2 10.6
GrowthA p 80.30 -0.78 0.2 56.1 CAIntTF n 11.84 0.07 -1.3 8.1 Income n 11.77 -0.17 -11.0 -1.2 USTrsIdx I 12.30 0.05 8.8 18.0
HighIncomeA p 6.82 -0.01 -15.9 -7.8 DivBnd n 11.35 0.04 4.4 13.4 CIBC Atlas: Columbia Class I2:
LgCpGrA p 58.90 -0.21 2.7 58.6 EmgMkt nr 9.81 -0.15 -17.2 -1.2 -12800 -12500 DispEq Inst 20.76 -0.41 -8.6 35.3 ContCore I2 25.18 -0.45 -8.2 23.5
MuCA A p 10.82 0.05 -3.1 6.8 EqGro n 28.26 -0.58 -9.6 22.8 Mar Apr May Mar Apr May ClearBridge: DivIncom 21.20 -0.54 -14.1 19.2
MuNY A p 9.56 0.05 -4.7 4.9 EqInc n 7.57 -0.21 -16.8 6.9 AggressGrowthA 154.64 NA NA NA MidCapIndx 12.51 -0.76 -23.1 -4.8
NtlMuA p 10.06 0.06 -3.0 7.2 GinnieMae n 10.79 -0.01 3.3 10.7 AggressGrowthI 176.21 NA NA NA SmCapIndx 16.97 -1.39 -29.8 -12.2
RelatValA p 4.43 -0.18 -21.3 3.8 GlGold nr 13.69 0.55 23.8 63.4
Money Market Funds Taxable Bond Funds AggressGrowthIS 178.55 NA NA NA Columbia Class I3:
SmCpGroA p 52.21 -0.68 -2.2 54.6 GovtBd n 11.74 0.02 6.5 14.8 175000 17500 AllCapValueA 9.64 NA NA NA Balanced I3 41.83 -0.37 -4.4 19.4
SmMdCpGrA p 10.77 -0.09 1.4 47.0 Grwth n 35.91 -0.26 0.9 51.7 AppreciationA 22.89 NA NA NA ContCore I3 p 25.19 -0.45 -8.2 23.7
SustGlblThemGrA p 118.10 -1.75 -3.9 29.0 Heritage n 19.74 -0.34 -4.8 34.1 AppreciationI 22.73 NA NA NA DivIncom 21.23 -0.54 -14.1 19.4
AB Funds - ADV: IncGro n 33.69 -0.79 -13.0 14.1 114000 -8000 AppreciationIS 22.81 NA NA NA SelLgCpGr t 14.19 0.09 1.4 48.1
ConGroAdv 39.12 -1.84 -9.9 39.7 InfAdjBd n 12.01 0.03 3.4 11.3 DividendStrat1 n 21.29 NA NA NA STBond 9.66 0.04 -2.2 4.3
GlbBd 8.40 0.00 -0.3 8.8 InfProBd n 10.19 0.01 -0.3 4.8 DividendStratA 21.27 NA NA NA Columbia Funds:
HiIncmAdv 6.83 -0.01 -15.8 -7.1 Intl Gr n 11.11 -0.29 -12.8 7.5 DividendStratI 21.91 NA NA NA UltShortBd Inst3 8.99 0.01 0.2 6.0
IntlSmCapPtADV 8.65 -0.24 -22.9 -13.7 IntTF n 11.30 0.06 -1.7 8.3 53000 -33500 LargeCapGrowthA 46.96 NA NA NA Commerce Funds:
IntlStraEquPtADV 10.04 -0.28 -18.8 -7.8 LgComVal n 8.70 -0.32 -20.7 -0.7 LargeCapGrowthI 52.55 NA NA NA Bond n 20.36 0.03 1.2 12.5
LgCpGrAdv 65.00 -0.22 2.8 59.8 MdCapVal n 12.86 -0.68 -24.6 -8.8 LargeCapValueI 27.23 NA NA NA NatTFBd n 20.18 0.10 1.3 11.3
NationalPtf 10.06 0.06 -2.9 8.0 OneChAgg n 14.16 -0.29 -10.8 11.5 MidCapA 26.95 NA NA NA Community Capital Tr:
SelectUSLgShrt 12.25 -0.13 -6.6 17.0 OneChCon n 12.98 -0.15 -5.3 10.7
-8000 -59000 SmallCapGrowthA 31.42 NA NA NA CRAQualInvFd 10.86 -0.01 3.0 9.6
SmCapCorePortADV 8.68 -0.54 -26.2 -13.9 OneChMod n 14.28 -0.24 -8.2 11.2 Mar Apr May Mar Apr May SmallCapGrowthI 34.19 NA NA NA Credit Suisse Common:
SmMdCpGr 11.73 -0.10 1.6 47.9 OneChoice2025 n 13.44 -0.18 -6.5 11.0 SmallCapGrowthIS 34.71 NA NA NA ComdtyRet r 3.62 -0.04 -21.8 -21.8
SmMidCpValAdv 13.48 -1.24 -34.1 -24.6 OneChoice2030 n 11.68 -0.16 -7.2 11.3 The charts above show four-week moving averages of net cash flow in millions of dollars. BARRON'S • Lipper FMI Clipper: Cullen Funds:
TxMgdWlthAppAdv 14.02 -0.37 -15.3 7.4 OneChoice2035 n 14.44 -0.23 -8.2 11.4 ClipperFd n 98.17 -4.29 -20.0 1.0 HiDivEqI r 13.05 -0.41 -23.3 -3.9
WlthApprStr 14.48 -0.39 -15.2 7.3 OneChoice2045 n 14.86 -0.29 -9.9 11.9 Cohen & Steers:
AB Funds - C:
HighIncomeC p 6.90 -0.01 -16.1 -10.1
OneChoiceRet n 12.15
Select n 80.36
-0.13
-0.87
-5.6
0.2
10.5
49.1
Net YTD 3-Yr.
NAV Chg. % Ret. % Ret.
Net YTD 3-Yr.
NAV Chg. % Ret. % Ret.
Net YTD 3-Yr.
NAV Chg. % Ret. % Ret.
Net YTD 3-Yr.
NAV Chg. % Ret. % Ret.
GlbRltyI
InstlRlty
41.94
35.09
-3.24
-2.94
-26.6
-24.6
-5.2
2.0
DE
LgCpGrC t 41.82 -0.15 2.4 55.1 SmCpVal n 5.24 -0.51 -34.1 -20.3 IntlRltyI r 9.59 -0.50 -23.6 2.6 Davenport:
AB Funds - I: Sustain Equity n 29.30 -0.49 -9.5 32.7 Brandywine I n 48.15 NA NA NA QualIntMunBdInst 11.88 0.07 1.8 9.7 StrtIncOpptyInvA 9.59 0.03 -2.9 5.9 HYldI 5.50 -0.03 -9.3 3.4 PrefSecIncmA 12.99 -0.12 -7.3 8.3 Davenport Core n 23.78 -0.50 -11.8 21.1
DblLineCore+Bd I 10.33 NA NA NA ShtTBdInst 9.85 0.01 1.6 8.5 TotRet 12.13 0.05 2.5 13.1 InstS&PStkIdx I 53.24 -1.21 -10.8 25.8
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

GlbBd 8.40 0.00 -0.3 8.9 Ultra n 53.96 -0.36 3.5 61.0 PrefSecIncmC 12.90 -0.12 -7.5 6.1 Val&Incm n 13.58 -0.56 -23.3 -2.3
LgCpGroI 64.61 -0.22 2.8 59.8 Value n 6.24 -0.35 -25.8 -8.6 GWKMBd I 12.12 0.08 0.1 10.4 Baron Funds: BlackRock Funds Blrk: Interm n 13.44 0.06 -1.5 8.2 PrefSecIncnI 13.02 -0.12 -7.2 9.1 Davis Funds A:
Aberdeen Fds: VeryCon tn 11.81 -0.09 -2.8 10.1 LoomisSaylesBd I 25.82 0.02 -3.8 9.1 Asset n 83.17 -1.39 -3.6 45.3 CapAppr 31.58 -0.24 3.2 60.4 IntlStkI 19.29 -0.40 -8.8 19.6 RltyIncA p 12.18 -1.08 -26.1 -1.3 NYVen A 23.30 -0.98 -21.4 1.6
EmMktEqty Inst 12.68 -0.27 -20.9 -10.2 American Century R5: LoomisSaylesBd N n 25.82 0.02 -3.9 8.6 EmergingMkts n 11.96 -0.31 -18.8 -8.6 BlackRock Funds C: IntlStkY 19.06 -0.39 -8.8 19.6 RltyIncI 12.91 -1.14 -26.1 -0.5 Davis Funds C & Y:
UltStMuniIncInst 10.03 0.00 0.5 4.0 InfProBd 10.27 0.00 -0.3 5.4 TSIntlSC I 12.69 -0.16 -22.0 -12.0 Growth n 72.68 -1.99 -12.1 31.8 EqtyDivd t 15.79 -0.62 -20.3 2.4 MunBd nr 11.54 0.06 -2.4 8.8 RltyShs n 49.59 -4.16 -24.5 1.7 NYVenY 23.97 -1.01 -21.4 2.3
USSmCapEq Inst 29.61 -1.66 -14.1 5.1 American Century R6: TSSmCapGrFd Z 17.13 -0.30 -6.9 37.3 Partners n 66.47 -3.29 -3.7 46.4 GlblAlloc t 16.04 -0.21 -6.3 5.6 NewtonIntlEqY 17.23 -0.52 -19.0 -9.0 Colorado BondShares: Del Invest Instl:
Acadian Emerging Markets: EqInc 7.59 -0.21 -16.7 8.0 TSSmCpGrFd N n 16.46 -0.29 -7.0 36.5 SmallCap n 26.70 -0.63 -9.1 27.2 HlthScOp 56.75 0.62 1.6 47.8 NY Tax nr 14.62 0.10 -1.6 7.9 ColoradoBdShs 8.90 0.03 -2.3 13.2 CorpBdI 6.05 0.01 0.4 16.7
AcadnEm Inv n 16.31 -0.32 -21.3 -12.8 Growth 36.64 -0.27 1.0 53.3 YachtmanFocFd I 15.22 -0.46 -16.3 14.5 Baron Instl Shares: MultiAstIncome 10.00 -0.07 -7.5 3.0 ResrchGrA 15.86 -0.02 4.4 50.4 Columbia Class A: USGrw 24.29 -0.12 4.0 46.7
AIG Funds: MdCapVal 12.87 -0.68 -24.5 -7.9 YacktFocFd N n 15.26 -0.46 -16.4 13.9 AssetInst 86.79 -1.44 -3.5 46.4 BlackRock Funds III: ResrchGrZ n 16.25 -0.03 4.5 51.2 AcornA t 10.81 -0.14 -7.7 25.2 Value 17.61 -0.56 -20.8 2.7
FDivStII t 13.20 -0.36 -22.5 -6.5 OCP2025 10.24 -0.13 -6.4 12.1 YacktmanFd I 17.00 -0.50 -17.0 10.9 EmergingMktsInst 11.99 -0.31 -18.7 -7.9 iShS&P500IdxK 339.95 -7.69 -10.6 26.6 SmCpStk r Inv nr 20.02 -1.64 -29.9 -13.0 AMTTEBd 3.94 0.03 -3.7 9.9 Delaware Invest A:
Akre Funds: OCP2030 10.64 -0.15 -7.2 12.4 Angel Oak Funds Trst: GrowthInst 75.42 -2.06 -12.0 32.8 iShUSAggBdIdxK 10.82 0.04 5.0 16.1 SmMidCpGrI 27.86 0.12 11.2 72.3 BalancedA t 41.48 -0.37 -4.5 18.2 Diver Inc p 8.87 0.01 1.8 12.9
AkreFocusInst 45.13 -0.80 -1.1 69.8 OCP2035 10.26 -0.17 -8.1 12.4 AglOkMtiStFdClIn 9.94 NA NA NA PartnersInst 68.25 -3.37 -3.6 47.6 BlackRock Funds Inst: StratValA r 27.71 -1.52 -26.4 -6.5 BldrAggrsv 11.11 -0.20 -12.4 10.0 GrEq A p 11.71 -0.08 -3.3 25.3
AkreFocusRtl 43.95 -0.79 -1.2 68.4 American Century Y: AQR Funds: SmallCapInst 28.04 -0.66 -9.0 28.2 AdvLgCapCore 15.86 -0.35 -9.8 22.7 U.S.EqY 18.70 -0.50 -11.5 27.4 BldrMod p 10.38 -0.11 -7.9 9.9 GroInA p 11.01 -0.34 -20.8 -1.3
Alger Funds A: IntTF 11.30 0.06 -1.6 9.1 LgCapDefStyle I 21.17 NA NA NA BBH Funds: BalCapFd 22.19 -0.32 -5.5 19.8 WWGrA 49.87 -0.99 -7.6 26.2 ContCoreA p 24.50 -0.44 -8.3 22.2 OppA p 19.32 -1.48 -32.8 -18.7
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

CapApr 28.02 -0.11 4.0 55.0 American Funds Cl A: LgCapDefStyle R 21.14 NA NA NA BdMktN n 10.02 0.02 -1.3 6.3 BasicVal 15.97 -0.83 -23.8 -5.0 BNY Mellon Funds Tru: DisplCoreA p 10.72 -0.20 -10.2 23.6 SmCpValA p 39.21 -4.36 -35.8 -26.3
SpectraN 23.16 -0.03 3.2 53.0 2010TarRetA p 10.71 -0.11 -4.4 11.3 LgCapMomStyle I 19.94 NA NA NA Bernstein Fds: CAInsMun 12.06 0.11 -5.3 6.4 BondFd 13.31 0.04 3.5 14.5 DivIncA t 20.83 -0.53 -14.2 18.0 SMIDCapGrA p 27.35 0.09 10.2 87.2
Alger Funds Inst: 2015TarRetA p 11.26 -0.14 -5.1 11.7 LgCpMultiStyle R 14.79 NA NA NA Ca Mu n 14.10 0.05 -1.8 5.3 CapAppr 31.34 -0.23 3.2 59.8 EmgMkts 9.16 -0.14 -20.8 -6.7 DivOpptyA 7.21 -0.24 -18.3 4.3 TotRtA p 13.17 -0.30 -16.2 -3.1
CapApprI 35.85 -0.14 3.9 55.0 2020TarRetA p 12.35 -0.14 -4.7 13.6 LngShrtEq I 9.02 NA NA NA DivrMuni n 14.22 0.07 -1.6 5.7 EmgMkts 21.67 -0.53 -16.5 10.1 IncomeStk 6.21 -0.38 -29.7 -8.2 EqValA 10.54 -0.34 -20.3 0.9 TxExIncmA 9.07 0.05 -2.2 5.5
Allianz Fds Admin: 2025TarRetA p 13.36 -0.16 -5.0 15.8 MgdFutStr R 8.75 NA NA NA EmMkts n 22.87 -0.32 -20.4 -13.2 EqtyDivd 16.61 -0.64 -20.0 5.4 IntlFd 10.58 -0.36 -21.4 -9.9 FocEqA t 18.71 -0.09 0.8 45.2 TxUSA p 11.21 0.10 -3.4 8.1
RCMTechI 73.05 0.70 11.7 80.7 2030TarRetA p 14.15 -0.20 -6.7 16.6 MgdFutStrI 8.73 NA NA NA IntlPort 13.80 -0.45 -19.6 -11.3 FloRateIncPorIns 9.11 0.00 -7.6 2.2 IntmBdFd 12.86 0.00 2.2 9.5 Gbl Stgic Eq A p 13.30 -0.28 -13.1 13.2 Deutsche DWS:
Allianz Funds A: 2035TarRetA p 14.43 -0.23 -8.5 17.6 MgdFutStrN 8.57 NA NA NA IntmDur n 13.63 0.04 2.2 12.6 GlblAlloc 18.17 -0.24 -6.0 8.8 MCMultiStrM 15.77 -0.57 -14.1 13.3 GlobTech 41.22 -1.69 -7.6 43.3 CapGrth p 86.11 -0.44 2.8 53.4
RCMGrowthA 53.54 -0.18 3.9 50.8 2040TarRetA p 14.67 -0.25 -9.4 17.5 StylePremAlt I 6.92 NA NA NA NY Mun n 13.64 0.07 -3.0 3.8 GlobLg/ShrtCrIns 9.40 0.01 -5.3 1.5 NtlIntmMuni 13.63 0.08 -1.2 8.9 HiYldBd 2.68 -0.01 -9.0 4.2 CapGrth n 87.18 -0.45 2.9 54.5
RCMTech t 61.08 0.58 11.6 78.8 2045TarRetA p 14.92 -0.26 -9.6 17.8 StylePremAlt R 6.94 NA NA NA TxMgdIntl n 14.33 -0.47 -19.8 -11.4 HlthScOp 69.43 0.77 2.0 52.3 NtlShTMuni 12.78 0.03 -0.3 3.9 IncmBldr t 11.45 -0.09 -6.1 8.6 CoreEq n 24.56 -0.67 -12.8 20.3
AllianzGI: 2050TarRetA p 14.65 -0.25 -9.7 18.1 Aquila Funds: BlackRock Funds: HYMuni 8.95 0.07 -9.5 6.5 Boston Trust Walden: LgCpGrowA t 44.04 -0.32 1.0 45.8 EqDivA 43.97 -2.18 -25.8 3.2
MidCpValA 23.42 -1.12 -23.7 -7.7 AmcpA p 31.48 -0.53 -6.2 30.7 HI TF A 11.47 0.06 1.1 6.8 CoreBd A 10.18 0.04 3.5 14.1 iShMSCIIntldx 11.02 -0.33 -20.5 -7.4 BostonBalanced 49.12 -0.81 -11.0 21.1 LgCpIdx pn 45.85 -1.04 -10.8 24.8 GblIncBldA 8.53 -0.12 -11.6 6.0
Amana Income: AMutlA p 37.70 -0.85 -12.8 16.2 ArbitrageI : CoreBd Inst 10.16 0.03 3.5 14.9 MdCpGrEq 30.43 -0.33 1.0 59.1 Braddock Multi Strat: LgCpVl A 11.05 -0.47 -21.8 -0.1 GblGrwS n 32.84 -0.79 -12.6 5.7
AmanaIncm n 47.87 -0.55 -9.4 21.9 BalA p 26.68 -0.34 -6.0 19.0 ArbitrageI 13.44 -0.07 NA NA CoreBd K 10.19 0.03 3.5 15.0 MultiAstIncome 10.02 -0.07 -7.2 6.1 Income Fund 5.92 0.05 -42.2 -33.9 LiGoBalA p 11.08 -0.16 -9.9 10.8 GNMA S n 14.01 0.01 2.3 10.2
AmanaGrowth n: BondA p 13.76 0.02 6.0 16.0 Ariel Investments: CreStraInc Inst 9.60 0.02 -5.6 7.9 NatlMuni 10.76 0.07 -2.6 8.5 BrandesInstIE I : MdCpIndxA pn 12.28 -0.76 -23.2 -5.5 HiIncA 4.33 -0.04 -8.3 5.8
AmanaGrowth n 43.05 -0.59 -3.5 49.5 CapIBA p 54.37 -1.18 -13.3 1.3 ApprecInv pn 32.74 -1.99 -26.6 -14.8 HiYBlk 6.86 -0.06 -9.9 5.1 NYMUNIOPP 10.58 0.10 -7.0 4.6 BrandesInstIE I 11.81 NA NA NA MidCapGthA t 22.15 -0.27 -5.7 32.7 HiYldTx n 11.18 0.05 -7.4 3.9
Amer Beacon Insti: CapWA p 19.86 -0.06 -1.5 8.2 Ariel Inv pn 45.47 -3.23 -30.1 -18.0 HiYInvA 6.85 -0.06 -10.0 3.7 ScTechOppInst 41.22 -0.22 12.7 100.4 Bridge Builder Trust: MinnTE 5.43 0.04 -1.6 8.9 IntTaxAMT n 11.67 0.08 -0.5 8.2
IntlInst 13.02 -0.65 -29.5 -22.1 CapWGrA 44.65 -0.91 -14.1 8.1 Artisan Funds: HiYldBd Inst 6.86 -0.06 -9.8 4.7 StratIncOpptyIns 9.59 0.03 -2.9 6.7 CoreBond 10.73 0.03 4.0 16.3 SelgComuInfoA 73.40 -2.98 -8.3 42.1 MgdMuniA p 8.86 0.06 -3.3 7.3
LgCapinst 20.37 -1.00 -25.6 -5.2 EupacA p 46.51 -1.13 -16.4 1.5 GblOppInst 27.61 -0.16 -1.4 37.4 InflProtBdInst 11.22 0.01 4.2 13.1 StratMuniOppI 10.74 0.09 -8.0 3.7 CorePlusBond 10.31 0.03 2.5 14.4 SmCpIdxA pn 16.43 -1.34 -29.9 -12.9 MgdMuniS n 8.87 0.06 -3.3 8.0
LgCpVal Inst 19.91 -1.10 -26.6 -9.7 FdInvA p 53.81 -1.04 -12.9 17.2 GblOppInv n 27.17 -0.16 -1.5 36.4 LDurBlk 9.49 0.00 -0.6 6.2 TotRet 12.13 0.05 2.7 14.2 Intl Eq 9.82 -0.23 -18.1 -3.4 StrAlloc 13.34 -0.14 -7.6 9.0 S&P500S n 29.93 -0.68 -10.8 25.8
SmCpInst 15.63 -1.47 -35.8 -27.3 GBalA p 31.01 -0.50 -9.4 6.8 Intl Inv n 27.75 -0.47 -16.6 8.3 LowDurBdA 9.50 0.01 -0.7 5.3 BlackRock Funds R: LargeCapGrowth 15.62 -0.19 -1.3 46.6 StratIncA 5.60 0.01 -6.6 4.6 TechA 25.59 -0.21 5.2 68.5
Amer Beacon Inv: GovtA p 14.89 0.02 8.6 15.1 IntlInst 27.91 -0.48 -16.5 9.1 LowDurI Inst 9.50 0.00 -0.6 6.1 Equity Div p 16.72 -0.65 -20.1 3.6 LargeCapValue 10.71 -0.49 -21.4 2.9 TaxEA 12.89 0.07 -4.1 7.6 Diamond Hill Funds:
LgCapInv 18.62 -0.91 -25.7 -6.1 GwthA p 50.28 -0.39 -1.7 38.1 IntlVal Inst 27.38 -1.47 -26.0 -15.3 USGovBd A 11.15 0.03 6.0 13.9 GlblAlloc 17.08 -0.22 -6.2 6.9 MunicipalBond 10.23 0.05 -2.2 8.2 TotReBdA t 9.25 0.03 1.3 12.3 CorpCrI 10.36 -0.01 -7.9 8.9
American Century A: HI TrA p 8.81 -0.09 -10.5 0.9 IntlVal Inv n 27.30 -1.46 -26.1 -16.0 BlackRock Funds A: BMO Funds: S/MCapGrowth 13.17 -0.34 -8.2 29.1 USGvtMtg p 5.53 0.01 0.1 9.6 LgCapA p 22.98 -0.86 -20.4 5.5
EqIncA p 7.56 -0.21 -16.9 6.0 HiInMuniA 15.15 0.07 -6.7 8.5 MidCapInst 43.12 0.57 8.2 54.2 AdvLCGrwA 16.52 -0.14 -0.4 45.0 CorePlBdI 11.99 -0.02 1.9 13.1 S/MCapValue 8.78 -0.64 -29.0 -14.5 Columbia Class Adv: LgCapI 23.16 -0.86 -20.3 6.4
American Century C: ICAA p 35.20 -0.65 -10.6 16.5 MidCapInv n 37.98 0.50 8.1 53.1 AdvLgCapCore p 15.22 -0.33 -9.8 21.8 IntrTaxFree I 11.07 0.04 -2.5 7.7 Bridgeway Funds: ContCore p 25.20 -0.45 -8.2 23.2 LgCapY 23.18 -0.86 -20.3 6.8
EqIncC p 7.55 -0.21 -17.1 3.6 IncoA p 20.00 -0.46 -13.2 6.1 MidCapVal Inv n 13.23 -0.99 -29.9 -18.4 BalCapFd 22.08 -0.33 -5.6 18.7 IntTxFY n 11.09 0.05 -2.5 7.0 BluChip n 12.96 -0.35 -13.2 25.5 DivIncom 21.22 -0.54 -14.1 18.9 LongShortI 21.77 -0.65 -19.3 -5.4
American Century G: IntBdA p 14.00 0.00 4.7 10.6 SmCpInv n 35.17 -0.11 4.1 66.0 BasicVal 15.70 -0.83 -23.9 -5.9 UltrShtTxFrI 10.01 0.01 -0.2 3.7 Brown Advisory Funds: Columbia Class C: SmMidCapI 15.37 -1.29 -32.6 -20.3
GlBond 10.16 0.02 -0.4 NS IntlGrIncA p 27.58 -0.95 -23.4 -7.0 Ashmore Funds: CAInsMuni 12.05 0.11 -5.4 5.6 BNY Mellon Funds: GrowEqInv n 26.28 -0.14 1.3 70.1 Balanced 41.35 -0.37 -4.8 15.6 Dimensional Fds:
InfAdjBd 12.02 0.04 3.6 NS LtdTEBdA 15.86 0.08 0.5 7.4 EmgMktTRInst 6.23 NA NA NA CapAppr 28.43 -0.22 3.1 58.6 Aprec pn 30.79 -0.49 -6.9 34.1 GrwthEquityInst 26.65 -0.14 1.3 70.8 ContCore p 21.87 -0.39 -8.5 19.5 2TGlFxd 9.97 0.00 0.6 5.8
NT IntlGr 10.08 -0.27 -12.2 12.8 N PerA p 43.20 -0.77 -8.6 25.4 Ave Maria Funds: EqtyDivd p 16.55 -0.64 -20.0 4.6 CA AMTMuBdZ nr 14.67 0.08 -1.5 8.4 BrownSmCoInv n: DivInc t 20.14 -0.52 -14.4 15.4 5GlbFxdInc 10.81 -0.01 0.7 7.2
NT MdCapVal 9.83 -0.52 -24.2 -6.1 NEcoA p 43.42 -0.26 -5.0 34.2 Growth pn 34.20 -0.83 -10.0 40.0 GlblAlloc p 18.04 -0.23 -6.1 7.9 Dr500In tn 44.84 -1.01 -10.9 24.6 BrownSmCoInv n 102.27 0.32 3.3 49.9 Columbia Class I: CAIntrTrmMuniBd 10.78 0.06 0.9 6.5
NTDvBnd 11.36 0.04 4.7 15.5 NwWrldA 59.77 -1.36 -15.3 7.5 RisingDivd n 14.94 -0.52 -19.7 9.0 HlthScOp p 65.81 0.73 1.9 51.1 Dreyf n 11.76 -0.11 -4.5 33.4 Buffalo Funds: Acorn I n 13.58 -0.17 -7.6 26.1 CASTMuniBd 10.32 0.02 0.5 3.3
NTEqGrp 9.93 -0.20 -9.3 25.0 SmCpA p 53.39 -0.56 -9.2 20.3 LgCp Focus Gr 4.81 -0.03 4.3 58.4 DreyMid r Inv nr 25.03 -1.54 -23.1 -5.5 DiscFd n 23.14 -0.33 -4.5 32.8 AcornIntl I n 27.41 -0.58 -20.0 -1.1 Cont 20.02 -0.80 -24.9 -14.9
NTGrwth 17.04 -0.13 1.0 56.5 STBFA p 10.14 0.00 2.6 7.0 B MdCpGrA 26.23 -0.29 0.9 57.8 DynTotRetY 15.22 -0.15 -7.9 1.9 AltBeta I 7.01 0.00 -4.6 -22.9 DFARlEst 30.94 -2.69 -24.0 0.4
NTHeritage
NTHighInc
11.40 -0.20
8.43 -0.09
-4.6
-11.3
37.2
NS
STTxExBdA
TECAA p
10.24
17.69
0.03
0.10
1.1
-1.1
5.5
10.6 Baird Funds:
MultiAstIncome 10.01
NatlMuni p 10.76
-0.07
0.07
-7.3
-2.7
5.3
7.7
FloRtIncY
GblRealRtY
10.42
14.51
0.05
-0.06
-8.3
-5.3
-0.3
7.4
C Balanced I
ConSec I n
41.40
21.50
-0.36
-0.34
-4.4
-2.6
19.1
31.9
EmgMkt 22.83
EmgMktSoCoEq 10.92
-0.46
-0.23
-21.7
-22.8
-9.9
-11.4
NTIntlVal 7.18 -0.26 -21.0 -16.5 TxExA p 13.05 0.08 -1.2 10.2 AggBdInst 11.59 0.04 4.2 16.3 NYMUNIOPP 10.58 0.09 -7.1 3.8 GblRESecY 6.66 -0.55 -26.2 -6.5 Calamos Funds: ContCore I 24.71 -0.44 -8.2 23.2 EmgMktVa 21.13 -0.56 -26.4 -19.1
NTLgVal 9.34 -0.34 -20.3 1.7 WshA p 41.12 -0.91 -14.1 18.8 CorBdInst 11.82 0.04 3.1 15.9 ScTechOppA 38.07 -0.21 12.6 98.9 GlbStkI 20.79 -0.57 -9.8 27.8 Gr&IncA p 31.54 -0.60 -8.1 21.2 CorpIncm I 10.74 0.02 0.9 16.2 EmMktCorEq 16.81 -0.35 -22.6 -12.4
Sustain Equity 29.48 -0.49 -9.2 NS AMG Managers Funds: IntBdInst 11.58 0.02 3.5 12.7 StratMuniOpp 10.73 0.08 -8.1 2.9 GlFxIncI 21.98 0.01 0.2 9.6 Gr&IncI 30.17 -0.57 -8.0 22.1 DivIncom I 20.86 -0.53 -14.1 19.0 EmMktSmCp 16.03 -0.21 -23.1 -16.5

About our Funds reported closing price for the week. Footnotes: NA: not available. NE: performance excluded by Lipper editor. NN:
fund not tracked. NS: fund not in existence for whole period. e: ex capital gains distributions. f: previous day’s
The listings include the top 2500 open-end funds by assets. These funds value their portfolios daily and report net quote. n: no front- or back-end sales charge. p: fund assets are used to pay marketing and distribution costs (12b-1
asset va lues (the dollar amount of their holdings divided by the number of shares outstanding) to the National fees). r: fund levies redemption fee or back-end load. s: stock dividend or split of 25% or more. t: fund charges
Association of Securities Dealers. Total returns reflect both price changes and dividends; these figures assume that 12b-1 fees (for marketing and distribution) and a back-end load. v: capital-gains distribution may be a return of
all distributions are reinvested in the fund. Because Lipper is constantly updating its database, these returns may capital. x: ex cash dividend. All data supplied by Lipper.
differ from those previously published or calculated by others. 3 year returns are cumulative. The NAV is the last
May 18, 2020 BARRON’S M25
Mutual Funds Data provided by
Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr.
NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret.
Fixd 10.31
GblAll60 40Inst 16.85
GlAll25 75Inst 13.28

0.00
-0.37
-0.12

0.6
-10.7
-3.3

5.5
7.0
8.2

DivBldrA
FloatRt
FltgRtAdvg p
.
13.62 -0.33
8.26 0.02
9.35 0.03

-12.1
-8.4
-11.3

23.2
0.3
-1.0

FIDZroLgCpIx n 10.12
Flex 500 Index 12.22
Freedom2060K 10.40

-0.22
-0.28
-0.24

-10.0
-10.7
-14.3

NS
26.5
NS

LmtTrmGov n
MuniIncI r
MuniIncome

10.38
10.47
12.87

0.01
0.06
0.08

4.0
-0.9
-2.9

9.0
9.1
NS

Idx2050InsPre
Idx2055InsPre
Idx2055Investor

16.50
13.57
13.55

-0.38
-0.30
-0.31

-12.7
-12.7
-12.7

13.7
13.7
13.5

LevCoSt n
LgCpVHIdx n
LmtTrmMuniIncm n

26.06
10.79
10.59

-0.77
-0.43
0.04

-19.6
-21.2
-0.4

0.8
1.4
5.7

FidSAIIntlIndxFd 9.81
IntlValIdx
Muni Inc
6.71
10.28

-0.29
-0.25
0.06

-20.4 -7.1
-28.4 NS
-2.9 NS

CA HY Adv t
CA IntAdv
CA TF Adv t

10.66
11.93
7.49

0.07
0.05
0.05

-4.0
-0.6
-0.8

10.4
7.8
12.5
GlEqInst
GlRESec
InfProtSec
IntGvFxdInc
IntlCoreEq
IntlREst

20.00
8.58
12.57
13.92
10.55
3.37

-0.72
-0.68
0.03
0.05
-0.35
-0.21

-19.2
-27.2
4.6
9.4
-23.4
-32.5

2.5
-5.4
14.2
19.1
-12.4
-16.1

Inc Bos
LgCpVal
NatlMuniInc

5.03 -0.05
16.31 -0.79
9.94 0.07
ShDurGovIncFd 8.14 0.00
ShDurStratIncFd 6.87 NA
TMG1.0 n 1237.66 -25.70

-9.0
-22.0
-0.7
1.7
NA
-9.9

2.7
5.5
11.7
6.1
NA
26.4

ly GlexUSIdxInstPre n 10.72
GrowthCompanyK6 12.65
HighIncome C 7.92
InflPrBdIndInsPr n 10.54
IntlIdxInstPrem n 34.22
IntlIndex n 8.33

-0.27
0.05
-0.07
0.02
-1.00
-0.22

-19.9
10.0
-9.9
4.7
-20.3
-20.1

-6.2
NS
NS
14.3
-7.1
NS

NwInsghtI
REIncmInst
SmCapGrwI
StrInI
Total Bd
Fidelity Advisor M:

30.81
9.74
24.63
11.73
11.04

-0.33
-0.30
-0.32
-0.02
0.02

-5.8
-21.7
-10.2
-4.9
2.4

32.7
-4.8
36.5
7.0
13.8

Income n
Income K
Fidelity Invest:
AdvSrsGroOpport
AggrInt n
AilSectEq

11.30
11.28
13.66
20.21
8.83

-0.03
-0.04
-0.13
-0.51
-0.22

-2.0
-2.0
5.5
-11.9
-9.5

10.9
NS
100.5
17.2
25.0

LowP nr
LowPriStkK r
LowPriStkK6
LtdTmBdFd n
MagellanK
Magin n

39.28
39.25
9.55
11.72
10.08
10.10

-1.42
-1.42
-0.33
0.01
-0.05
-0.05

-21.5
-21.5
-20.9
1.3
-1.0
-1.0

-0.2
0.1
NS
8.8
41.3
41.1

SAIEmgMktLoVolIx 8.33
TotalBd
TxFreeBd
U.S.TreBdIdx 10.93
USMomentumIdx 13.78
USValueIndex 7.94

10.57
10.26

-0.16
0.02
0.07
0.04
0.07
-0.43

-18.7 NS
1.8 NS
-3.3 NS
9.1 18.7
-2.3 40.6
-26.7 NS

CvtScAdv
Dynat Adv
Fed TF Adv
FedIntAdv
FlRtDAAdv t
GrOpAdv p

22.11
98.71
11.82
12.11
7.15
44.44

-0.11
NA
0.07
0.06
-0.01
NA

2.8
NA
-0.4
0.4
-11.5
NA

44.0
NA
9.4
7.5
-6.6
NA
on
IntlSustCore1 8.76 -0.26 -20.5 -6.7 TMG1.1 55.59 -1.15 -10.0 25.1 IntrTresBdIxPrem n 12.04 0.02 9.5 NS Balanced p 21.30 -0.36 -5.5 20.0 AMgr20% n 13.30 -0.05 -1.9 10.8 MAMun n 12.24 0.08 -0.6 10.2 Fidelity Selects: Growth Adv t 106.83 -1.86 -5.0 39.1
IntlVal 12.19 -0.57 -31.2 -24.6 TMG1.2 24.98 -0.52 -10.0 24.6 LgCpGwId InstPre n 17.49 -0.17 -0.1 54.6 EqGr p 12.31 -0.06 2.0 198.1 AMgr50% n 17.49 -0.19 -5.9 12.9 Manager40 n 11.43 -0.09 -4.4 12.7 Biotech nr 22.59 0.93 8.1 46.4 HY TF Adv 9.71 0.04 -3.5 7.8
IntlVectorEq 9.07 -0.32 -25.8 -16.7 WW Hlth Science p 12.34 0.07 -0.3 38.0 LgCpVlIdxIstPrem n 10.25 -0.45 -22.4 -0.9 EqIn p 23.10 -1.02 -22.8 -5.3 AMgr70% n 20.69 -0.33 -8.9 13.1 Manager60 n 12.05 -0.17 -7.4 13.0 Chem nr 9.89 -0.39 -20.1 -21.1 IncomeAdv 1.95 -0.04 -14.3 -2.0
IntrLrgCpGroPor 11.80 -0.24 -14.7 3.6 Eaton Vance Class C: LTTrsBdIdxInstPr n 17.25 0.25 23.3 NS GrOppM p 92.41 -0.81 5.3 91.8 AMgr85% n 17.89 -0.36 -10.9 13.5 McpVl n 16.64 -1.19 -28.1 -19.1 Comp nr 71.07 -1.85 -10.3 30.0 RisDv Adv r 61.18 -1.39 -11.7 23.3
IntSmCo 14.33 -0.44 -24.2 -13.1 FltgRtAdvg p 9.33 0.02 -11.5 -2.5 MidCpInxInstPrem n 19.20 -0.80 -18.7 7.2 NwInsghtM p 28.71 -0.31 -6.0 30.7 AstMgr30R n 10.97 -0.07 -3.2 11.9 MegaCpStk n 12.70 -0.44 -18.1 10.8 ConStap nr 76.39 -1.93 -12.1 -2.2 StrInc Adv p 8.75 0.03 -7.5 0.4
IntSmVa 13.77 -0.51 -28.8 -24.5 Eaton Vance Class I: NewMkt I 13.38 0.22 -9.7 NS StrInM p 11.56 -0.02 -5.0 6.1 Balanc n 23.11 -0.40 -5.5 22.3 MidCap n 27.68 -1.58 -22.6 0.9 DfAero nr 12.10 -0.80 -32.2 4.2 TtlRtnAdv 9.68 0.04 -1.1 8.6
IntTermMuni 10.52 0.06 1.8 7.8 AtlCpSMID 29.34 -1.76 -21.9 16.1 OTCK6Port 11.87 -0.17 1.7 NS Fidelity Advisor Z: BalancedK 23.11 -0.40 -5.5 22.6 MidCapEnIdx nr 12.45 -0.51 -19.1 2.2 Energy nr 20.52 -1.52 -42.1 -48.2 USGovAdv p 6.20 0.00 3.5 9.9
IntVaIII 10.41 -0.48 -31.1 -24.1 FloatRtHiInc 7.83 0.00 -8.9 1.0 RealEstIdxInst n 11.54 -1.23 -31.8 -15.2 CorporateBond 12.16 0.05 1.3 NS BluCh n 112.07 -0.93 4.0 59.9 MidCapStkK r 27.70 -1.58 -22.6 1.2 Gold nr 30.58 1.27 26.4 50.5 Utils Adv 18.85 NA NA NA
ITExQual 11.31 0.05 1.6 15.9 FltgRt 7.98 0.01 -8.5 1.0 SAIUSLgCpIndxFd 15.42 -0.35 -10.8 26.4 FloatRateHighInc 8.47 0.02 -9.1 NS BluChpGr K6 15.69 -0.12 4.3 NS MIMun n 12.41 0.08 0.4 11.9 Health nr 29.25 0.55 5.4 60.8 FrankTemp/Franklin A:
Japan 20.93 -0.10 -15.7 -2.2 GblMacAbR 8.50 0.06 -2.2 5.7 SeriesOverseas 9.21 -0.26 -14.6 NS GovtIncome 11.23 0.02 7.6 NS BluChpGrK 112.36 -0.93 4.1 60.4 MNMun n 11.84 0.07 0.2 10.6 HlthCareSrvPt r nr 102.46 1.93 -1.5 45.9 AdjUS p 7.94 0.00 0.1 2.9
LgCo
LgCpIntl
SclCrEqInst
SelHdgGlFxd

22.00
18.67
9.95
9.57

-0.49
-0.56
-0.34
0.00

-10.7
-20.7
-24.8
-0.1

26.3
-7.4
-14.3
7.7

IncBos
LgCpVal
NatlMuniInc

5.03 -0.05
16.38 -0.79
9.94 0.07
ParEmMktsFdInst 10.70 -0.23

-8.9
-21.9
-0.6
-26.5

e 3.4
6.2
12.6
-20.2

SerLTTreBdIdx 10.57
SmCpIdxInstPrem n 15.93
STBdIdx InstPrem n 10.34
STTreIdx InstPre n 10.90

0.16
-0.92
0.00
0.00

23.1
-24.3
3.4
4.1

47.0
-5.6
NS
NS

GrOpp
IntCpAp
InvestGradeBd
NewMktsIncFdZ

102.88
21.30
8.49
13.38

-0.89
-0.53
0.03
0.22

5.6 95.4
-11.8 17.4
4.4 NS
-9.7 NS

CALmtTrmTFB n
CAMun n
Canad nr
CapAp n

10.69
13.00
41.85
32.43

0.04
0.08
-1.32
-0.40

0.1
-0.8
-20.6
-4.2

5.9
10.7
-3.0
34.0

MtgSec n
MuniInc n
NASDAQ nr
NewInsights Z

11.65
12.88
113.42
30.85

-0.01
0.08
-1.34
-0.33

3.3
-2.8
0.7
-5.8

12.1
10.4
50.2
33.3

Ind n
ITSvs n
MdTchDevis n 59.55
Multimedia nr 61.46

26.09
72.81
-1.15
-1.24
0.06
-0.64

-22.9
-2.5
1.4
-1.7

-4.5
73.1
63.3
31.6

BAL A t
BalInv p
BioDis A p
CoreAll A p

11.25
23.29
156.46
17.59

-0.22
NA
NA
NA

-9.4
NA
NA
NA

10.1
NA
NA
NA
us ,
STExQual 10.81 0.00 0.3 6.9 Eaton Vance Funds: TMktIdxInstPrem n 79.58 -2.07 -11.9 23.0 RE Income 9.74 -0.30 -21.7 NS CapApprK 32.51 -0.41 -4.2 34.3 NewMill n 29.14 -1.05 -22.5 2.2 Pharm n 23.36 0.32 3.2 45.0 CvtSc A p 22.11 -0.11 2.7 43.0
STGov 10.57 0.00 0.4 4.0 ParTxMgdEmgMktIn 36.38 -0.74 -25.2 -18.7 TotalMarketIndex n 9.98 -0.26 -12.0 NS StrgInc 11.73 -0.02 -4.9 NS CapDevO n 12.77 -0.47 -20.3 6.4 NewMkt nr 13.38 0.22 -9.6 -4.9 Retail nr 16.56 -0.18 -1.6 47.3 DynaTech A p 95.38 NA NA NA
STMuniBd 10.21 0.01 0.7 3.5 Edgewood Growth Instituti: TtlIntIdxInstPr n 9.90 -0.25 -20.3 -6.7 Fidelity Freedom: ChinaReg n 38.87 -0.37 -1.7 36.3 NJMun nr 11.66 0.06 -4.1 10.4 Semiconductors r nr 10.46 -0.47 -10.4 56.7 EqIn A p 21.96 -0.70 -17.2 9.6
TAUSCoreEq2 16.51 -0.62 -17.7 8.9 EdgewoodGrInst 40.10 -0.08 4.1 62.1 USBdIdxInstPrem n 12.42 0.03 5.2 16.3 FAFree2020I p 11.87 -0.15 -7.7 12.0 CnvSc n 30.40 -0.50 -2.2 30.1 NYMun n 13.09 0.08 -2.0 9.0 Softwr nr 20.56 -0.29 6.9 80.8 FlRtDA A p 7.15 -0.01 -11.6 -7.3
TAWldexUSCr 8.57 -0.24 -23.2 -12.5 Fidelity Adv Focus A: FAFree2025I 11.88 -0.18 -8.9 11.9 Contra n 13.76 -0.03 1.0 46.9 OHMun n 12.15 0.08 -0.9 10.0 Tech nr 20.24 -0.20 5.9 70.8 FoundFAlA p 11.54 NA NA NA
TM IntVa 10.49 -0.47 -30.5 -23.6 F HthCarA r 58.26 1.20 4.6 55.6 FAFree2035I 11.88 -0.26 -13.2 11.1 ContraK 13.78 -0.03 1.0 47.3 OTC n 12.95 -0.18 1.3 56.0 UtilGr nr
Fidelity Series:
77.61 -2.17 -16.7 20.1 FSmCoSer r 15.94 NA NA NA
TM US Sm 31.34 -2.28 -28.2 -15.7
l TechA t 62.35 -0.62 5.9 72.0 FAFree2045A 9.76 -0.24 -14.6 8.9 CorpBd n 12.16 0.05 1.2 17.3 OTC K 13.18 -0.18 1.3 56.6
Canada 8.72 -0.33 -22.8 NS
GoldPrM A p 21.35 0.90 9.8 27.6
al a
TM USTgtVal 22.65 -2.12 -35.8 -26.9 Fairholme: Fidelity Adv Focus C: FF2005 n 11.88 -0.05 -3.0 11.6 CpInc nr 8.88 -0.11 -12.0 4.0 OverseasK r 44.04 -1.24 -14.7 3.8 GrOp B p 40.62 NA NA NA
TMMktwdVa 24.14 -1.15 -25.0 -3.9 Fairholme n 17.10 -0.21 -13.8 -13.0 HthCarC p 45.51 0.93 4.3 52.2 FF2010 n 14.53 -0.10 -4.6 11.7 DisEq n 39.10 -0.45 -2.3 30.8 Ovrse n 44.13 -1.24 -14.8 3.5 FASeriesEqGroFd 14.52 -0.06 2.5 59.4 Growth A p 106.54 -1.86 -5.1 38.0
TMMttVa2 22.35 -1.06 -24.9 -3.5 FAM Value: Fidelity Advisor: FF2015 n 11.72 -0.11 -6.2 11.6 DivGrowK 22.88 -1.34 -26.0 -0.9 PAMun nr 11.16 0.05 -1.0 10.7 IntMuni Z 10.47 0.06 -0.9 NS LwDuToRt A 9.14 0.02 -4.1 1.0
TMUSEq 30.59 -0.72 -11.5 23.5 FAMValue n 65.47 -3.14 -19.0 11.2 SrsAdvIntlCapApp 21.28 -0.52 -11.8 17.0 FF2020 n 14.53 -0.17 -7.6 11.3 DivGth n 22.91 -1.34 -26.0 -1.1 PcBas nr 31.34 -0.36 -9.2 19.1 STCrFd 10.09 0.00 1.0 8.6 RisDv A p 61.24 -1.39 -11.8 22.4
US CoreEq1 21.60 -0.73 -16.3 13.9 StragInc n 11.73 -0.02 -4.9 NS FF2020A p 11.77 -0.15 -7.8 11.2 DivIntl n 35.15 -0.83 -13.2 4.7 PuritanK 22.06 -0.10 -2.6 25.0 Fiera Capital: SmCpGr A p 19.18 NA NA NA
Federated A:
US CoreEq2 19.37 -0.73 -17.8 8.6 TotBdFdClZ 11.05 0.03 2.5 14.4 FF2025 n 12.75 -0.17 -8.7 11.2 DivIntl K6 10.09 -0.23 -12.9 NS Puritn n 22.08 -0.10 -2.6 24.7 EmgMkt Inst 40.02 -0.54 -18.3 -8.1 SmCpVal A p 33.48 NA NA NA
EqIncA p 17.57 -0.68 -20.0 -4.5
ci on
First Eagle Funds:
US Micro 14.78 -1.20 -31.7 -18.9 FedMunULA pn 9.92 0.01 -0.6 2.4 Fidelity Advisor A: FF2025A p 11.77 -0.17 -9.0 11.1 DivIntlK r 35.09 -0.82 -13.1 5.1 RealE n 33.30 -3.21 -25.9 -6.3 SmMCpGrA p 33.61 NA NA NA
GlbA 49.88 -1.47 -13.9 1.1
US Small 25.12 -1.79 -28.0 -16.2 KaufmannA p 6.26 0.06 4.7 64.2 AdvMdCpIIA p 14.81 -0.81 -23.3 -9.8 FF2030 n 15.53 -0.25 -10.3 11.5 DivStkO n 25.46 -0.20 -3.7 31.1 RealEstInc nr 9.78 -0.30 -21.7 -4.8 StrInc A p 8.74 0.03 -7.5 -0.3
OverseasA 20.97 -0.43 -12.4 -3.1
US SmCpVal 21.79 -2.19 -36.5 -30.5 KaufmnLCA p 27.39 -0.13 -1.5 48.4 AdvStrDivInA p 13.52 -0.31 -11.3 10.5 FF2035 n 12.75 -0.26 -13.0 10.0 Emerg Asia nr 44.90 -0.44 -1.2 31.8 REInc n 8.89 -0.19 -20.0 -2.9 TgtCon A p 13.34 NA NA NA
US Val A t 15.05 -0.59 -16.3 2.5
US TgdVal 14.77 -1.37 -35.9 -27.3 KaufmnSCA p 43.32 0.04 -0.1 71.4 BalancA t 21.03 -0.36 -5.4 20.9 FF2035A t 11.77 -0.26 -13.3 10.2 EmrgMktK r 30.71 -0.46 -12.2 16.0 SAIIntlMinVolInd 9.38 -0.27 -15.7 1.5
US Val I r 15.35 -0.60 -16.3 3.4
TtlRtn A p 9.62 0.04 -1.2 7.8
USLCpGr 21.56 -0.28 -6.5 39.8 MunStkAdvA p 12.14 -0.09 -7.8 6.3 BioTech 30.49 1.44 9.7 47.8 FF2040 n 8.80 -0.21 -14.3 8.6 EmrgMktsDebt 8.44 0.15 -10.2 -1.7 SAILTTreBdIdx 13.53 0.20 24.0 49.2 FMI Funds: FrankTemp/Franklin C:
USLgVa 28.17 -1.38 -26.6 -7.5 StrValDivA p p 4.43 -0.14 -21.2 -7.8 DivIntlA 21.14 -0.51 -13.3 4.1 FF2040A p 12.44 -0.30 -14.6 9.0 EmrMkt nr 30.70 -0.46 -12.2 15.6 SAISm-MidCap500I 10.28 -0.51 -20.1 5.6 IntlInvst n 23.75 -0.94 -26.6 -18.1 Bal C t 11.14 -0.20 -9.6 7.5
er s
USLgVaIII 18.98 -0.94 -26.6 -7.2 UltraShortA pn 9.03 0.01 -0.6 4.5 EqGrA p/r t 12.64 -0.05 2.1 54.5 FF2045 n 10.02 -0.23 -14.3 8.6 Eq Inc n 49.69 -1.29 -17.3 5.5 SAIUSMinVolIndFd 13.66 -0.30 -10.2 28.4 LgCapInvst n 15.87 -0.55 -19.7 7.3 CA TF C t 7.49 0.05 -0.9 10.4
USSmCpGr 14.90 -0.82 -22.8 -5.0 Federated C: EqInA 22.46 -0.98 -22.7 -4.6 FF2050 n 10.09 -0.24 -14.3 8.6 EqDivIncm n 19.98 -0.85 -21.8 -1.0 SAIUSQtyIdx 14.07 -0.08 -4.2 42.7 FPA Funds: DynaTech C p 78.49 NA NA NA
USSoCoreEq2 14.22 -0.61 -19.1 7.5 StraValDivC p 4.44 -0.14 -21.4 -9.8 FF2030A p 12.48 -0.22 -10.6 11.4 FrdmBlen2025 K6 9.53 -0.14 -8.5 NS EqIncK 49.65 -1.29 -17.2 5.8 SmallCap nr 13.80 -0.55 -23.8 -3.1 FPACres n 28.10 -0.88 -16.9 -3.5 Fed TF C t 11.80 0.07 -0.7 7.4
USSustCoreI 21.52 -0.64 -13.6 21.1 Federated Funds: FltRateA r 8.48 0.01 -9.3 -0.1 Free2045L 9.84 -0.24 -14.5 9.8 Europ nr 29.76 -0.90 -17.9 -6.1 SmCapDisc n 16.00 -1.16 -30.9 -18.0 NwInc n 9.90 0.01 0.0 8.1 Growth C t 96.45 -1.70 -5.3 35.0
USVectorEq 14.15 -0.90 -27.4 -11.1 IntEq IS p 20.20 -0.68 -19.5 -1.5 GrOppA 93.57 -0.82 5.4 93.1 Free2050I 9.82 -0.24 -14.5 9.7 Export n 15.46 -1.05 -29.3 -5.5 SmlCapO n 11.01 -0.49 -21.4 4.4 Franklin A1: Income C t 2.00 -0.04 -14.2 -3.4
m er
WexUSGov 10.56 0.01 3.1 18.1 KaufmnIS 6.42 0.07 4.9 66.6 HiIncAdvA 9.84 -0.12 -12.8 1.8 Free2055 n 11.53 -0.27 -14.3 8.6 Fidel n 50.24 -0.28 -0.9 42.8 SmlCpGrth nr 24.56 -0.31 -10.2 36.6 AZ TF A1 p 10.74 0.07 -0.6 9.8 RisDv C t 60.05 -1.37 -12.0 19.6
Dodge & Cox: KaufmnSCI 44.13 0.04 0.0 73.8 NwInsghtA p 30.00 -0.33 -5.9 31.7 Freedom2010 K 14.52 -0.09 -4.5 NS FltRateHi nr 8.47 0.01 -9.2 0.9 SmlCpGrth K6 13.39 -0.17 -9.6 NS CA TF A1 p 7.51 0.06 -0.7 12.4 StrInc C p 8.74 0.03 -7.6 -1.5
Balanced n 83.65 -3.12 -16.1 2.8 Federated Instl: SmllCapA p 18.95 -0.85 -20.2 -4.3 Freedom2015 K 11.71 -0.11 -6.1 NS FocsdStk n 25.93 0.03 -0.5 62.1 SmlCpVal nr 10.52 -0.99 -31.3 -21.0 CAHY A1 p 10.63 0.07 -4.0 10.2 Utils C t 18.58 NA NA NA
GblStock n 9.26 -0.46 -27.1 -14.2 BondIS 9.29 0.02 -1.3 13.4 StkSelMC p 26.69 -1.69 -25.0 -1.6 Freedom2015 K6 11.67 -0.11 -6.2 NS FournOne n 43.17 -1.00 -11.6 14.0 Srs1000ValIndRet 10.18 -0.44 -22.3 -0.7 CAInt A1 p 11.90 0.06 -0.5 7.4 FrankTemp/Franklin R:
Income n 14.21 0.04 2.3 14.4 GloFinI 28.85 -0.83 -19.0 -10.0 StrInA 11.57 -0.02 -5.0 6.1 Freedom2020 K 14.52 -0.17 -7.6 NS GNMA n 11.82 -0.03 3.2 10.7 SrsBlChGroRetail n 15.62 -0.12 3.9 65.3 CO TF A1 p 11.56 0.07 0.4 9.8 FrkDynTchR6 99.79 NA NA NA
Intl Stk n 31.09 -1.27 -28.7 -23.1 GovUltra 9.92 0.01 0.9 5.7 TotalBdA p 11.07 0.03 2.4 13.1 Freedom2020K6 14.48 -0.17 -7.5 NS GovtInc n 11.21 0.03 7.6 16.2 SrsCommStrt 3.64 -0.04 -23.5 -22.8 Fed TF A1 p 11.81 0.07 -0.5 9.1 FrkGrthR6 106.73 -1.86 -5.0 39.5
Stock n 144.98 -7.91 -23.7 -1.4 InsHiYld r 8.93 -0.07 -8.1 5.6 Fidelity Advisor C: Freedom2025 K 12.73 -0.17 -8.7 NS GroCo n 23.46 0.10 9.8 69.4 SrsEmrgMkt 16.76 -0.33 -18.8 1.7 FedInt A1 p 12.08 0.06 0.3 7.2 FrkIncR6 1.95 -0.04 -14.3 -1.8
Domini Funds: KaufmnLCIS 28.29 -0.13 -1.5 49.5 BalancC 20.87 -0.35 -5.7 18.2 Freedom2025K6 12.71 -0.17 -8.6 NS GroInc n 33.82 -1.23 -19.5 6.1 SrsGlobal 10.55 -0.27 -19.9 -6.1 FedL T TF A1 10.53 0.03 0.9 5.6 FrkRisDivR6 61.18 -1.38 -11.7 23.7
Intl Eq Instit
CoreFxdIncmI 10.85
CorFxdIncN n 10.84
EmgMktIncmI 9.31

6.28
US Equity Inv pn 22.86
DoubleLine Funds:
FlexibleIncomeI 8.69

-0.15 -21.6 -16.7


-0.30 -4.6 23.9
NA NA NA
NA NA NA
NA NA NA
NA NA NA

KaufmnR r
MDTSmCIS
ShIntDurMuInst
StraValDivIS
TtlRtnBdI
UltraShortI
FedMuniUl A

6.28
14.73
10.10
4.46
11.24
9.03
9.93

0.06
-1.08
0.04
-0.13
0.02
0.01
0.02

m rp 4.7
-26.6
-1.6
-21.1
2.7
-0.6
-0.5

64.3
-14.5
3.6
-7.1
14.2
6.0
3.7

GrOppC p
NwInsghtC t
StrInC t
Fidelity Advisor Fun:
IntlGrwZ
Fidelity Advisor I:
BalancI

78.69
25.19
11.54
14.01
21.49

-0.70
-0.27
-0.02

5.1 88.8
-6.1 28.8
-5.3 3.8
-0.30 -11.9 15.6
-0.36 -5.3 21.9

Freedom2030 K
Freedom2030K6
Freedom2035 K
Freedom2035K6
Freedom2040 K
Freedom2040K6
Freedom2045 K

15.51
15.48
12.73
12.71
8.80
8.77
10.01

-0.25
-0.25
-0.26
-0.26
-0.20
-0.20
-0.23

-10.3
-10.3
-12.9
-12.9
-14.2
-14.2
-14.3

NS
NS
NS
NS
NS
NS
NS

GrowCoK
GrowIncK
GrStrt nr
GwthDiscovery n
HighInc nr
Indepndnc n
IntBd n

23.51
33.79
48.14
40.56
7.92
36.21
11.28

0.11
-1.22
-0.62
-0.19
-0.07
-0.20
0.01

9.9
-19.5
-3.8
2.1
-9.8
-1.1
2.8

69.9
6.4
35.0
54.7
4.0
39.1
11.5

SrsGroCoRetail
SrsIntlGrw
SrsIntlSmCp
SrsIntlVal
SrsSmCapDiscRet
STBF n
StkSelSmCp n

19.70
15.48
14.57
7.31
8.24
8.77
20.42

0.13
-0.32
-0.34
-0.29
-0.56
0.00
-0.88

11.0
-11.6
-15.8
-26.2
-29.2
1.5
-19.9

75.0
18.7
9.4
-19.9
-11.8
7.5
5.5

FL TF A1 p
HiInc A1
HY TF A1 p
IncomeA1 p
MIInsTF A1 p 11.72
MNInsTF A1 p 12.51
MO TF A1 p

10.40
1.67
9.67
1.97
11.65

0.04
-0.02
0.05
-0.04
0.07
0.09
0.07

-0.9
-8.5
-3.5
-14.2
1.1
1.0
-0.1

7.1
3.5
7.5
-1.9
12.3
10.4
9.2

FrkSmCpGrR6 21.45
FrkTotRtnR6
MutShrR6
9.69
20.24
TempGlbBndR6 10.04
TmpGlbTotRtnR6 10.26
TmpGrthR6
TmpFrgnR6
18.28
5.37

NA
0.04
NA
-0.03
-0.04
-0.44
-0.12

NA
-1.0
NA
-4.3
-5.9
-18.9
-24.7

NA
9.1
NA
-4.4
-4.3
-13.8
-23.7
GlobalBondN 10.24
InfraIncomeI
LowDurBdI
LowDurBdN n 9.67

10.01
9.68
ShillerEnhCAPEI 12.87
ShillerEnhCAPEN n 12.86

-0.04 -2.1 4.5


NA NA NA
NA NA NA
NA NA NA
NA NA NA
NA NA NA

Federated IS:
ShtlncIS
Federated R6:
FedInstHYBondL
StrValL
TtlRtnBdL

8.54 0.01
co o 0.5
8.93 -0.08 -8.2 5.6
4.46 -0.13 -21.2 -7.0
11.24 0.02 2.8 14.3
F
7.7
BiotechI
DivIntl
EqGrI
FAInvGrdI
FF2030

32.57
ConsvIncmMuni I 9.98
21.51
14.13
8.48
12.56

1.54
0.01
-0.51
-0.06
0.02
-0.21

9.8
-0.3
-13.2
2.2
4.4
-10.5

49.0
3.7
4.9
55.8
16.3
12.3

Freedom2045K6
Freedom2050 K
Freedom2050K6
Freedom2055 K
Freedom2055K6
Freedom2060 n

9.98
10.08
10.07
11.53
11.51
10.41

-0.23
-0.23
-0.23
-0.26
-0.26
-0.24

-14.3
-14.3
-14.2
-14.3
-14.2
-14.3

NS
NS
NS
NS
NS
8.6

IntGov n
IntlCapiApp K6
IntlDisc n
IntlEnhIdx n
IntlGrRet n
IntlScOpps nr

11.17
11.49
39.16
7.73
14.02
17.59

0.01
-0.29
-0.86
-0.23
-0.30
-0.38

5.7
-11.7
-13.8
-20.3
-12.0
-14.6

12.1
NS
3.1
-10.2
15.2
10.5

StkSlcACap n
StratDivInc n
StrDivIncI
TaxFrB nr
TotalBond n
TotalBond K6

43.41
13.61
13.57
11.48
11.06
10.37

-1.06
-0.32
-0.31
0.07
0.02
0.03

-9.4
-11.3
-11.2
-2.6
2.4
2.3

23.4
11.4
11.3
10.7
14.0
NS

NC TF A1 p
NJ TF A1 p
NY TF A1 p
OHInsTF A1 p 12.94
OR TF A1 p
PA TF A1 p

11.55
11.06
10.96
11.65
9.78

0.07
0.05
0.08
0.07
0.08
0.04

0.7
-2.4
-0.9
1.5
0.8
-0.1

8.8
7.7
8.5
12.0
10.2
8.2

FrankTemp/Mutual A&B:
Beacn A
Shares A
FrankTemp/Temp A:
DvMk A p
Frgn A p

12.53
20.01
17.72
5.46

NA
NA
NA
-0.13

NA
NA
NA
-24.9

NA
NA
NA
-24.8
n-
TotRetBdI 10.59 NA NA NA Fidelity: FF2040 12.54 -0.30 -14.5 9.7 FundK 50.23 -0.28 -0.9 43.2 IntlSmCap nr 21.51 -0.61 -23.4 -9.5 Trend n 110.50 -0.78 3.3 54.9 US Gov A1 p 6.17 -0.01 3.3 9.4 GlBond A p 10.09 -0.03 -4.4 -5.5
TotRetBdN n 10.58 NA NA NA 500IdxInstPrem n 99.48 -2.24 -10.7 26.5 FltRatel 8.47 0.02 -9.1 0.9 Idx2015InsPre 13.21 -0.12 -3.9 16.0 IntMu n 10.45 0.06 -0.9 9.3 Utility n 23.51 -0.69 -14.3 16.2 Utils A1 p 18.69 NA NA NA GlSmCo A p 7.24 -0.32 -25.0 -11.9
Driehaus Funds: Contrafund K6 14.53 -0.02 0.4 NS GrOppI 101.87 -0.88 5.5 94.7 Idx2020InsPre 14.00 -0.16 -5.4 15.8 InvGB n 8.47 0.02 4.3 16.4 Value n 7.51 -0.56 -32.2 -19.5 Franklin C1: Growth A p 18.28 -0.44 -19.0 -14.6
EmMktsGr n 33.98 -0.34 -14.0 8.5 EmgMktIdxInstPre n 8.90 -0.13 -18.9 -4.9 HiIncAdvI 9.21 -0.12 -12.8 2.5 Idx2025InsPre 15.30 -0.21 -6.6 15.8 InvGrBd 11.83 0.03 3.3 15.9 ValueDisc n 23.69 -1.08 -21.8 -4.2 HY TF C t 9.87 0.05 -3.7 5.8 World A p 11.30 -0.23 -17.2 -10.9
Dupree Mutual Fds: ExtMktIdxInstPre n 52.30 -2.41 -18.0 6.6 HthCarI r 63.70 1.31 4.7 56.9 Idx2030InsPre 15.58 -0.26 -8.3 16.3 JpnSmCo nr 14.63 -0.12 -15.1 6.7 ValueK 7.52 -0.55 -32.1 -19.3 Franklin Templeton: FrankTemp/Temp Adv:
KYTF n 7.80 0.04 0.0 10.2 FIDSerEmgMkt 7.62 -0.13 -21.9 NS IntlGr 13.99 -0.29 -12.0 15.2 Idx2035InsPre 16.27 -0.33 -11.2 15.1 LargeCap n 26.60 -0.99 -20.7 5.9 Wrldw n 26.83 -0.16 -5.4 33.5 TgtGroA p 16.35 NA NA NA Frng Adv 5.38 -0.12 -24.8 -24.0
Eaton Vance Class A: FIDSerTresIndxFd 10.03 0.00 0.8 NS IntlSmCp 21.64 -0.62 -23.5 -9.5 Idx2040InsPre 15.88 -0.36 -12.7 13.7 LCapCrEIdx n 14.92 -0.28 -9.4 27.6 Fidelity SAI: TgtModA p 14.00 NA NA NA GlBondAdv p 10.04 -0.03 -4.3 -4.8
AtlCpSMID p 26.15 -1.56 -22.0 15.3 FIDZroExtMktIx n 7.65 -0.44 -24.3 NS LmtdTrmBdFd 11.72 0.00 1.3 8.7 Idx2045InsPre 16.48 -0.37 -12.7 13.7 LCapGrEIdx n 21.67 -0.13 0.8 47.6 FidSAIEmgMktIndx 11.62 -0.17 -19.1 -5.0 FrankTemp/Frank Adv: TGlTotRAdv 10.27 -0.04 -5.9 -4.6
Short Interest no
NYSE Short Interest Falls 0.4% Nasdaq Shorts Drop 0.1%
S A
HORT INTEREST ON THE NEW YORK change fell by 0.4%, to 461,285,231 shares, as S OF APRIL 30, OVERALL NASDAQ 2.91 days, versus 2.48 days in the prior period.
Stock Exchange fell 0.4%, to of April 30, from a revised 463,244,269, as of short interest fell 0.1%, to Short interest on the Nasdaq Capital Mar-
15,581,875,547 shares, as of April 30, April 15. The short-interest ratio fell to 1.61 8,789,884,596 shares, compared kets rose 7%, to 1,049,509,012 shares in 1,036
from a revised 15,651,486,334 on days, from a revised 2.64 in the prior period. with 8,799,364,541 on April 15. The securities, versus 980,976,788 in 1,038 on April
April 15. The short-interest ratio rose to 2.8 The top three NYSE shorts were Aurora short-interest ratio was 2.37 days, versus 2.25 15. The April 30 short-interest ratio decreased
days, from a revised 2.6 days on April 15. Cannabis (ticker: ACB), the S&P 500 index in the preceding reporting period. to 1 day, from 1.28 in the previous reporting
The ratio is calculated by dividing the (SPX) and Ford (F). On the NYSE AMEX: On the Nasdaq Global Markets, short in- period. The top three shorts were Sirius XM
number of shares sold short by the average Northern Oil and Gas (NOG), Senseonics terest slid 1%, to 7,740,375,584 shares in 2,422 Holdings (SIRI), American Airlines Group
total traded each day. Holdings (SENS) and Northern Dynasty securities, versus7,818,387,753 in 2,430 securi- (AAL), and OPKO Health (OPK).
Short interest on the NYSE American Ex- Minerals (NAK). —MICHAEL T. KOKOSZKA ties on April 15. The short-interest ratio was
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com —MICHAEL T. KOKOSZKA
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.
M26 BARRON’S May 18, 2020

Mutual Funds Data provided by

Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr.
NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret.
FrankTemp/Temp B&C: EqIncI 15.89 -0.53 -18.0 6.5 Invesco Funds C: TotalStkMktIdxI 21.25 -0.54 -11.6 21.3 USEquity 15.00 -0.43 -6.7 29.0 TotRet 10.45 0.01 0.7 10.8 MFS Funds Class I: LtdMnBd p 11.13 0.07 -0.1 7.5
GlBond C p 10.12 -0.03 -4.5 -6.6 FltRateI 7.59 0.01 -9.1 0.3 BalancedRiskAllC 8.82 -0.07 -10.0 -0.1 VolBalSrs1 11.05 -0.04 -11.0 7.3 USLgCpCorPls 23.09 -0.38 -6.5 25.8 LSVValEq : BondI 14.72 0.03 1.2 16.7 NYMunBd p 10.73 0.08 -3.0 7.6
Frost Family of Fund: GrowOppI t 45.26 0.35 7.6 59.2 Eq IncC 8.46 -0.29 -15.9 -4.0 VolGrw1 11.30 -0.06 -14.9 4.2 ValAdv 26.99 -1.46 -27.7 -7.8 LSVValEq 19.74 -1.04 -28.1 -11.5 ConAllI 15.55 -0.14 -4.5 15.1 Nuveen Cl I:
FrTRInst 9.72 0.03 -4.9 3.7 InterValue 10.20 -0.38 -32.2 -26.2 EqWtdC 48.19 -2.52 -20.7 2.4 John Hancock Class 1: JPMorgan Inst Class: Growth I 129.95 -0.16 2.0 63.0 HYMunBd 16.02 0.16 -9.2 10.9
FrTRIS pn 9.71 0.02 -5.1 2.8 MidCap
MunOpptI
27.07
8.65
-1.40
0.06
-14.7
-1.8
20.4
10.1
RchHiYldMunC 7.23
RoMu C p 15.91
0.06
0.12
-7.0
-3.9
12.5
14.9
BlueChipGrw 44.52
CapAppr 16.70
-0.06
0.05
1.9
6.5
57.4
63.4
ValAdv L
JPMorgan R Class:
27.01 -1.46 -27.6 -7.4 M IntNwDI
MCapI
29.07
21.81
-0.66
-0.12
-18.9
-2.6
1.7
52.6
Nuveen Cl R:
CAMunBd 11.19 0.09 -1.1 11.2
G WorldBond
Hartford Funds Y:
10.61 0.02 0.5 10.3 SenFltRtC
TEHYC
6.30
9.23
0.01
0.05
-14.7
-8.9
-13.3
4.2
LSAggr
LSBalncd
12.23
12.78
-0.32
-0.20
-14.5
-9.0
7.9
9.0
CoreBond
CorePlusBd
12.21
8.59
0.03
0.03
4.0
2.7
15.7
14.6
MainStay Fds A:
ConvtA 17.49 NA NA NA
MCpValI
MIGI p
18.65
31.13
-1.16
-0.73
-26.6
-8.5
-7.3
46.9
DivVal I
IntDMunBd
10.76
9.29
-0.36
0.06
-25.0
-1.2
-3.3
10.7
Gabelli Funds: DiscpEq 31.31 -0.75 -11.6 30.4 Invesco Funds Instl: LSConserv 12.42 -0.06 -3.5 8.3 HighYld r 6.38 -0.04 -10.4 1.9 HiYldBdA 5.10 -0.02 -8.4 4.5 ReInT t 17.19 -0.39 -16.0 3.8 LmtTrmR 11.09 0.07 0.0 8.2
ABC pn 9.86 -0.05 -3.4 2.7 DivGthY 22.46 -0.79 -17.1 12.7 IntlGrow 27.04 -0.67 -17.8 -2.4 LSGwth 12.62 -0.26 -11.8 8.3 LimDurBd 10.04 0.00 0.2 7.6 IncBldr 17.46 -0.22 -10.2 5.7 RetBdI 11.06 0.03 1.6 13.1 NYMunBd 10.74 0.09 -2.9 8.2
Asset pn 44.65 -1.62 -18.8 2.7 IntOppY 14.08 -0.37 -18.3 -8.2 SmCpGr 37.62 -1.80 -5.1 24.1 LSModer 12.31 -0.12 -6.4 8.5 MtgBckd 11.49 0.01 2.6 13.3 LgCpGrA p 9.42 0.00 2.6 59.8 RschI 43.02 -0.85 -9.3 29.7 RealEst 15.42 -1.32 -24.6 -5.3
SmCapG n 35.32 -1.87 -24.8 -12.3 MidCapY 32.29 -1.66 -14.7 20.6 Invesco Funds P: RetCho2020 11.14 -0.03 -1.5 11.1 ShtDurBnd 11.02 0.01 1.9 8.4 TxFrBdA 10.18 0.08 -0.5 12.2 TotRI 18.01 -0.32 -9.2 11.1 ShTxFrY 10.09 0.03 -0.2 4.9
SmCpGrwI 36.36 -1.92 -24.8 -11.6 Hartford HLS Fds IA: Summit P pn 22.12 -0.13 0.1 51.2 RetCho2025 11.80 -0.08 -3.4 13.0 SmCpEqR5 46.93 -2.63 -21.8 0.4 MainStay Fds I: ValueI 36.08 -1.21 -18.8 5.7 SmCpVal 14.52 -1.48 -38.2 -37.5

.
Util A p 7.10 -0.31 -18.4 -1.0 Balanced 27.82 -0.45 -8.1 16.9 Invesco Funds Y: RetCho2030 12.16 -0.14 -5.5 14.1 SmCpVal 17.16 -1.71 -33.1 -26.2 EpochGlb r 14.73 NA NA NA MFS Funds Instl:
Util C t 4.35 -0.19 -18.6 -3.3 CapApp 40.79 -1.09 -11.4 20.3 BalancedRiskAllY n 9.55 -0.07 -9.6 3.1 RetCho2035 12.09 -0.20 -8.1 13.5 USEqR5 15.04 -0.43 -6.5 29.7 MAPI 35.28 -1.03 -17.7 13.5 IntlEq 22.67 -0.79 -18.6 3.0 O

ly
GAMCO Funds: DiscEqui 14.08 -0.35 -11.8 29.6 DevMktY n 37.04 -0.97 -18.8 1.4 RetCho2040R4 12.05 -0.22 -9.4 13.2 USRechEnhEq 24.71 -0.55 -9.7 25.8 S&P500IdxA 39.92 -0.90 -10.8 24.7 Mondrian:
GwthAAA pn 68.19 -0.05 3.6 61.6 Div&Grwth 18.20 -0.65 -17.6 12.6 DiscovY n 96.24 -1.10 1.5 53.8 RetCho2045 12.07 -0.25 -10.3 12.7 JPMorgan R5 Class: TRBd 11.01 0.02 2.4 13.3 IntlValEq n 10.53 -0.44 -27.4 -18.9 Oak Associates Funds:
Gartmore Funds: GrwthOpp 38.23 0.29 7.9 60.9 EqWtdY n 51.13 -2.65 -20.4 5.4 RetCho2050R4 10.72 -0.22 -10.4 12.8 SR2020 R5 16.41 -0.17 -6.5 10.1 Mairs&Power: Morgan Stanley Fds A: RedOakTec n 30.15 -0.66 -3.0 50.6
NationwideInstSv 21.02 NA NA NA IntlOpp 13.50 -0.36 -18.5 -8.2 GlblOppY n 56.42 -0.96 -9.6 18.0 RetLiv2020 8.86 -0.11 -6.9 11.1 SR2030 R5 17.01 -0.35 -11.2 9.0 MairsPwrBal n 88.88 -1.76 -10.3 12.7 InsightA p 53.51 1.38 31.3 131.4 Oakmark Funds Invest:
Gateway: MidCap 32.59 -1.68 -14.6 20.8 GloblY n 84.79 -1.04 -11.8 16.7 RetLiv2025 9.27 -0.14 -8.3 11.2 SR2040 R5 18.30 -0.49 -14.5 7.1 MairsPwrGr n 113.31 -3.31 -10.9 19.7 Morgan Stanley Fds I: EqtyInc nr 24.26 -0.77 -17.4 -1.3
GatewayA 32.67 -0.18 -5.5 5.4 SmallCo 18.65 -0.25 -8.8 36.9 IntGrowY n 37.68 -1.17 -14.9 -2.3 RetLiv2030 9.38 -0.17 -9.5 11.5 SRIncome R5 15.55 -0.14 -6.0 8.7 Manning & Napier Fds: FxInOpp I 5.46 0.02 -4.5 9.5 GlbSel nr 13.68 -0.66 -26.3 -17.8

on
GE Elfun/S&S: SmCpGrwth 25.10 -1.00 -15.5 12.7 IntlBdY n 4.79 NA NA NA RetLiv2035 9.57 -0.20 -10.8 11.1 JPMorgan Select Cls: ProBConsS 13.78 -0.09 -1.2 13.5 Insight I 60.16 1.55 31.4 133.4 Global n 20.05 -1.25 -31.7 -18.4
RSPIncm n 12.05 0.02 2.8 13.7 Stock 80.57 -2.07 -13.0 28.0 IntlSmCoY n 42.55 -0.63 -10.9 17.4 RetLiv2040 9.53 -0.21 -11.8 10.9 SmCpGrL 19.20 -0.47 -5.2 51.3 Marsico Funds: Morgan Stanley Inst: Oakmark n 61.42 -3.18 -23.2 -2.6
RSPUSEq n 53.02 -0.96 -7.5 30.0 TotRetBd 11.69 0.06 2.2 15.2 LmtTermBd n 4.48 NA NA NA RetLiv2045 9.26 -0.21 -12.5 10.3 Focus pn 20.02 -0.07 6.1 59.5 CapGrI 60.82 1.50 31.3 99.5 OakmrkInt n 15.88 -0.95 -36.4 -32.3
Tax Ex n
Trusts n
11.34
58.49
0.07
-0.94
-0.4
-5.9
10.3
39.4
Hennessy Funds:
FocInv 62.48 -2.83 -21.3 6.7
RocMuniY n
Sel40Y n
15.96
3.81
0.13
-0.06
-3.5
-42.1
18.4
-46.7
John Hancock Funds A:
BalA 20.51 -0.19 -3.7 19.7
L Mass Mutual:
SelBluChipGroClI 23.79 -0.10 1.1 55.5
CapGrP p 57.15
CorPlusFxdIncI 11.43
1.40
0.05
31.2
0.6
97.9
14.9
Select n
Oberweis Funds:
32.29 -1.68 -25.6 -20.8

Glenmede Funds: GasUtilIndInv 23.01 -1.00 -19.0 -4.8 CoreBdY n 7.12 0.02 3.7 15.8 BondA p 16.12 -0.01 1.3 12.8 Laudus Funds: SelStratBdClI 10.73 NA NA NA GloFranI t 26.51 -0.50 -7.1 31.3 IntlOppInst 9.54 -0.05 -8.4 3.1
CorFxd n 11.76 0.04 5.3 15.2 JapanInst 36.68 0.82 -7.1 24.8 IVA Funds: DispVal 16.35 -0.64 -24.0 -5.0 USLgCpGr nr 22.95 -0.18 3.2 61.1 MassMutual Premier: IntlEqI 12.41 -0.37 -15.8 -5.4 Old Westbury Fds:

us ,
SmCpEqAdv n 18.40 -1.19 -28.7 -18.8 Homestead Funds: Intl I r 12.64 -0.29 -20.5 -14.8 DispValMdCp 15.82 -1.02 -25.8 -9.8 Lazard Instl: CoreBdI 10.99 0.05 0.0 12.0 MorganStanleyPathway: AlCpCore n 17.00 -0.32 -7.7 30.3
GMO Trust Class III: ShtTmBd n 5.35 NA NA NA CoreFxIcm n 8.53 0.02 3.2 15.0 FixInc pn 11.85 0.02 4.9 12.4

l
WorldwideA t 13.83 -0.41 -17.0 -8.0 FunLgCpCorA p 42.65 -1.55 -14.2 10.1 EmgMktEq 13.27 -0.38 -28.2 -23.1 MassMutual Select:
EmgCntryDt r 23.83 NA NA NA Value n 42.59 -1.43 -17.3 14.0 WorldwideI r 13.89 -0.41 -16.9 -7.3 InvGrBdA 10.91 0.02 3.0 13.5 GlbLstInfr 13.53 -0.37 -13.0 6.2 BlackRockGlAllCi 10.54 NA NA NA EmgMkt n 12.13 -0.21 -22.1 -10.0 LrgCpStr n 13.05 -0.27 -13.4 8.2

e
al a
IntlEq 17.43 -0.63 -21.2 -12.1 Hotchkis and Wiley: Ivy Funds: IntlGrw 26.40 -0.49 -12.1 12.2 IntlEq 14.65 -0.56 -21.3 -9.7 BlChpGrR5 23.75 -0.10 1.1 55.0 LgCapEq n 17.62 -0.44 -12.3 20.1 MuniBd pn 12.43 0.08 1.7 8.4
Quality 22.42 -0.59 -9.5 35.7 HiYldI 9.67 -0.06 -14.2 -6.4 AssetStrA p 18.81 -0.25 -13.3 9.8 LifeAggr 12.30 -0.32 -14.5 6.7 IntStrtEq r 12.15 -0.45 -21.0 -2.7 IdxEqI 16.34 -0.37 -10.7 26.1 Sm-MdCapEq nr 14.81 -0.72 -18.7 4.9 MutiAstOpp n 5.93 -0.07 -21.6 -10.3
GMO Trust Class IV: ValOppI 20.28 -0.99 -30.0 -14.2 AssetStr I r 19.11 -0.25 -13.2 10.7 LifeBal 12.87 -0.20 -9.2 7.7 USEQ Concen Inst 14.44 -0.56 -14.3 12.4 IndxEqR4 n 15.86 -0.36 -10.8 24.2 Munder Funds: OWstbryNYMuBndFdn 10.41 0.06 0.5 NS
EmgCntrDt 23.79 NA NA NA BalancedA p 21.99 -0.38 -9.9 12.5 LifeConsv 12.44 -0.06 -3.6 7.1 Lazard Open: IndxEqR5 16.41 -0.37 -10.7 25.8 MndrIntlSmCpInv r 11.44 -0.23 -19.4 -2.7 Sm&MdCapStrategi n 13.03 -0.45 -16.4 -0.3
I

ci on
IntlEq 17.41 -0.62 -21.1 -11.8 CoreEqA t 13.07 -0.23 -8.3 29.3 LifeGrw 12.68 -0.26 -11.9 7.2 EmgMktEqO n 13.65 -0.39 -28.3 -23.7 MCGrEqIII 20.94 NA NA NA Munder Funds Cl Y: Optimum Funds Inst:
Quality 22.46 -0.60 -9.5 35.8 EmgMktEqFdI 17.97 -0.18 -15.2 -0.7 LifeMod 12.38 -0.13 -6.6 7.4 IntlStrEq n 12.25 -0.46 -21.1 -3.4 MCpGrEqIIS 20.69 NA NA NA MndrSCVClY p 21.31 -2.34 -39.8 -32.5 Fixed Inc 9.92 0.02 3.0 13.4
GMO Trust Class VI: ICM Small Company: HiIncA p 6.00 -0.02 -13.7 -3.7 RgBkA 15.24 -2.11 -45.2 -36.2 Legg Mason A: PIMCITRetI 10.47 0.02 4.5 16.3 Mutual Series: Intl Eqty 10.50 -0.39 -21.9 -9.9
EmgMkts r 27.77 NA NA NA ICMSmCo 19.01 -2.01 -34.4 -20.2 HiIncC t 6.00 -0.02 -13.9 -5.7 StrIncA p 6.24 -0.03 -3.0 5.6 GrowFdClA 13.35 NA NA NA Matthews Asian Funds: BeacnZ n 12.66 NA NA NA LgCpGrwth 19.54 -0.14 -2.0 44.7
Quality 22.42 -0.60 -9.5 36.0 IFP US Equity Fund: HiIncI r 6.00 -0.02 -13.6 -3.0 TFBdA 9.46 0.06 -3.6 7.3 Legg Mason I: AsiaDivInv nr 15.30 -0.06 -12.2 -0.5 EuropZ n 14.89 NA NA NA LgCpVal 14.03 -0.51 -20.5 2.7
Goldman Sachs A: IFP US EquityFd 17.09 -0.04 -7.8 24.1 IntlCorEqI r 14.09 -0.43 -20.4 -13.8 USGlobLdrs 52.41 -0.72 1.3 52.4 IntlGrTrI 47.85 NA NA NA AsiaGroInv nr 26.78 0.37 -4.7 22.5 GlbDiscA 22.02 NA NA NA SmCpGrwth 13.60 -0.35 -5.0 31.1
CapGr 21.70 -0.50 -10.1 30.9 INVESCO A Shares: LgCpGwthA p 23.46 -0.21 -0.8 57.2 John Hancock Instl: OpporTrI 22.70 -1.44 -27.9 -5.2 Asian G&I Inv nr 13.49 -0.23 -14.2 -3.9 GlbDiscC t 21.93 NA NA NA Osterweis Strat Income:
HYMuni p 9.35 0.04 -8.0 10.9 AmValA 24.89 -1.38 -28.0 -15.9 LgCpGwthl r 25.04 -0.22 -0.7 58.5 BalancedI 20.49 -0.19 -3.6 20.8 Longleaf Partners: ChinaInv n 19.24 -0.03 0.6 38.4 GlbDiscz n 22.53 NA NA NA OsterweisStrInc n 10.14 -0.04 -5.6 2.0

er s
Muni 15.44 0.09 -5.2 7.6 Invesco Fds Investor: LtdTrmI r 10.99 0.00 1.8 8.1 DispValMCI 16.54 -1.06 -25.7 -9.1 Intl n 12.62 -0.59 -28.6 -15.4 IndiaInv nr 16.94 -0.11 -27.2 -27.3 QuestA t 11.07 NA NA NA
Goldman Sachs Inst:
EmgMEq 19.65 -0.18 -15.0 3.6
DivrsDiv n
GlHltCr pn
16.17
40.10
-0.58 -21.5 -4.8
0.16 -4.4 32.0
MidCapI
MdCpGwthA p 27.44
30.08 -0.39
-0.36
0.6
0.4
60.4
58.5
FunLgCpCorI 44.80
IncomeI 6.23
-1.63
-0.03
-14.2
-2.9
10.9
6.5
Partners n 15.08 -0.93 -25.7 -24.5 JapanInv nr 19.80 -0.08 -7.9 10.8 QuestZ n
SharesZ n
11.26
20.25
NA
NA
NA
NA
NA
NA
PQ
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Sm-Cap n 15.87 -1.56 -34.6 -24.0 PacTigerInv nr 24.26 -0.17 -15.6 -2.1
Gr 33.06 -0.13 -1.4 41.2 Tech n 51.64 -0.27 4.1 57.6 MuniBdA t 11.65 0.06 -0.4 7.7 StratIncmOppI 10.16 -0.05 -4.4 3.8 Loomis Sayles Fds: Merger Fd pn: PACE Funds Cl P:
N
HYMuni
Int
9.35
10.36
0.04
-0.25
-7.9
-20.2
11.9
-10.0
Invesco Funds A:
500InxA p 30.63 -0.70 -10.9 24.5
m er
MuniHighIncA t 4.81
ScTechA p 67.67
0.03
-1.63
-3.4
-5.4
6.1
55.3
USGlbLdrsGrwI 57.28
JPMorgan A Class:
-0.78 1.4 53.6 HiInc
LSBondI
5.31
12.30
-0.06
-0.05
-14.9
-10.1
-6.2
0.5
Merger Fd pn 17.16
Meridian Funds:
-0.10 -0.1 14.9 IntlEqty P
LgGrEqty P
12.61
22.89
-0.31
-0.23
-19.2
-0.3
-7.8
46.2
Muni 15.43 0.09 -5.0 8.7 ActiveAllA 12.48 NA NA NA ScTechC t 54.81 -1.33 -5.7 51.9 CoreBond 12.20 0.03 3.9 14.3 LSBondR pn 12.23 -0.05 -10.2 -0.3 Growth 31.79 -1.18 -18.0 11.4 Nationwide Fds R6: LgVEqty P 15.70 -0.69 -28.0 -12.5
ShDuTF 10.64 0.03 -0.3 6.3 AMTFrNY p 11.27 0.08 -4.6 9.8 ScTechI r 76.51 -1.84 -5.4 56.3 CorePlusBd p 8.59 0.03 2.7 13.4 LSCorBndA p 13.64 0.05 4.1 15.0 Metropolitan West: BdIdxR6 11.70 NA NA NA StraFxd P 14.29 0.06 2.9 15.5
SmCapVa 35.60 -3.12 -34.9 -23.7 BalancedRiskAllA 9.36 -0.07 -9.8 2.2 SmCapGrA t 15.41 -0.55 -8.9 21.6 EmMktEq t 26.50 -0.50 -16.6 7.8 LSFixIncl 11.93 -0.01 -10.4 2.7 IntmBdI 10.84 0.02 3.4 12.1 IntIdxR6 6.38 NA NA NA StratInvP 10.43 NA NA NA
Gotham: CapApprA p 55.14 -0.33 -0.8 40.3 SmCapGrI r 21.50 -0.76 -8.7 22.8 EqInc p 15.24 -0.51 -19.7 8.6 LSStrIncA p 12.80 -0.04 -10.7 -1.2 LowDurBd n 8.76 0.01 0.7 6.7 MidCapIdxR6 11.94 NA NA NA Pacific Life Funds:
AbsRt Inst 13.26 NA NA NA Chart 13.99 -0.29 -12.2 8.9 Nationwide Fds Serv:
m rp
EqIndx p 43.62 -0.99 -10.8 24.9 LSStrIncC t 12.92 -0.04 -11.0 -3.4 LowDurBdI 8.76 0.01 0.7 7.3 PortOptModAggClA p 11.50 NA NA NA
Guggenheim Funds Tru:
FloRaStraFdInst 22.46 0.02 -9.8 -1.3
CmstA
CoreBdA p
17.79
7.16
-1.03
0.02
-28.5
3.6
-10.0
14.7 J GroInc p
GwthAdv p
42.56
22.70
-1.39
-0.24
-20.6
4.1
6.2
61.7
SmCpGI
Lord Abbett A:
23.43 -0.44 -11.8 28.3 TotRetBd n
TotRetBdI
11.33
11.33
0.01 4.3
0.02 4.5
15.5
16.3
IDAggr p
IDMod p
7.35
8.25
NA
NA
NA
NA
NA
NA
PortOptModClA r
Palmer Square:
11.38 NA NA NA

MacOppFdClInstl 24.33 -0.05 -4.3 1.3 CpBdA 7.32 0.00 -2.3 12.2 JamesBalGR A n: Inv Bal p 13.91 -0.19 -6.4 11.2 Affiltd p 12.04 -0.45 -23.2 -1.6 TRBdPlan 10.66 0.02 4.5 16.5 IDModAggr p 7.81 NA NA NA Income Plus 9.44 NA NA NA
TotRtnBdFdClInst 28.23 0.09 5.0 15.0 DevMkt 30.74 -0.70 -20.3 -6.2 JamesBalGR A n 19.75 -0.18 -7.1 -1.9 InvCon p 12.10 -0.09 -3.3 10.8 BdDeb p 7.35 -0.04 -8.1 5.1 UnconstrBdI 11.40 0.02 -3.1 6.5 Natixis Funds: Parnassus Fds:
TotRtnBondFdClA 28.20 0.08 4.9 14.0 DevMktA 37.60 -0.98 -18.8 0.6 Janus Henderson: InvG&I p 15.40 -0.30 -8.5 12.2 CalibrDivGr 13.98 -0.33 -12.4 19.0 MFS Funds Class A: InvGradeBdA p 11.28 0.04 1.2 13.3 ParnEqFd n 42.10 -1.03 -10.3 29.5
GuideStone Funds: DiscFdA p 82.58 -0.94 1.4 52.7 InvGradeBdY 11.29 0.04 1.3 14.1 Parnsus n 45.38 -0.45 -10.1 15.3
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Balanced C 34.09 -0.24 -6.1 25.9 InvGrwt p 17.77 -0.47 -11.6 11.7 CoreFxdInc p 11.32 0.02 3.2 12.7 AgGrAlA p 21.67 -0.56 -13.8 15.9
AggrAllGS4 n 10.02 NA NA NA DisMdCpGrA 22.24 -0.11 -1.3 45.5 Balanced S 34.46 -0.24 -5.9 28.0 LgCpGwth p 43.39 -0.08 8.6 74.0 DevGt p 20.52 -0.11 4.5 69.0 BondA p 14.74 0.03 1.2 15.9 LSGrowthY 18.35 -0.14 0.1 49.6 Pax World Fds:
BalAllGS4 n 11.24 NA NA NA DivIncm p 19.32 -0.60 -16.8 -3.5 Balanced T n 34.53 -0.23 -5.8 29.0 MdCpGrw p 32.65 -0.47 0.0 50.8 FloatRt p 7.53 -0.01 -13.2 -4.8 CoEqyA 31.59 -0.73 -9.7 29.5 USEqOppsA 31.81 -0.76 -10.4 25.8 SustAll Inv n 22.04 -0.35 -5.6 17.5
co o

EqindxGS2 31.54 NA NA NA DivrsDiv p 16.17 -0.58 -21.5 -5.0 Contrarian T n 17.65 -0.75 -17.3 15.4 MdCpVal p 27.80 -1.71 -28.2 -13.7 FundlEq p 9.37 -0.37 -21.7 -3.1 ConAllA p 15.40 -0.14 -4.6 14.2 Neuberger Berman Fds: Paydenfunds:
EqIndxGS4 n 31.53 NA NA NA EqIncA 8.64 -0.29 -15.6 -1.8 Enterprise Inst 73.12 -2.78 -14.4 32.8 Sm Cap p 39.82 -2.24 -21.9 -1.0 HiYldA t 6.40 -0.05 -12.8 -1.0 Growth A p 121.44 -0.17 1.9 61.8 EmgMktInst 16.72 -0.21 -18.7 -5.1 CoreBd n 10.81 0.04 0.6 11.4
GrAllGS4 n 10.76 NA NA NA EqInvA 13.21 -0.31 -16.6 2.1 Enterprise S 117.64 -4.49 -14.1 30.3 SR2020 p 16.32 -0.17 -6.6 9.3 HYMuniBd p 11.20 0.05 -10.0 8.1 GlEqA 39.25 -1.47 -17.3 6.4 EqIncInst 10.71 -0.33 -18.5 2.8 EqIncInv n 15.23 -0.38 -16.3 11.9
GrEqGS2 25.99 NA NA NA EqWtdA p 50.58 -2.63 -20.4 4.6 Enterprise T n 121.03 -4.61 -14.0 31.3 SR2030 p 16.90 -0.35 -11.3 8.1 IncomeA p 2.74 0.00 -4.5 8.5 GlTotA p 16.42 -0.32 -10.9 5.5 GenesInst 51.39 -1.74 -12.1 18.3 LowDur n 10.01 0.01 0.0 5.8
F

GrEqGS4 n 25.76 NA NA NA FltgRate p 6.53 0.01 -9.5 -1.1 FlxBnd T n 10.82 0.02 3.4 13.9 SR2040A p 18.18 -0.49 -14.6 6.2 IntrTxFr 10.68 0.06 -3.4 7.4 GrAllA p 19.34 -0.40 -11.4 15.4 HiIncBdClR6 7.70 -0.05 -9.3 3.1 LtdMat n 9.37 0.02 -0.5 5.7
IntEqGS2 10.68 NA NA NA FndAltFdB 25.90 0.05 -3.9 -0.3 Forty S 35.95 -0.35 0.1 54.5 USEquity 14.95 -0.42 -6.7 28.1 MidCapStk 21.20 -1.29 -25.8 -19.8 GvScA p 10.46 0.03 5.9 13.8 HiIncBdInst 7.70 -0.05 -9.3 3.0 Pear Tree:
LowDurGS2 13.43 NA NA NA GblAllocA 17.51 -0.15 -7.5 2.8 GlbEqIncA 5.47 -0.18 -21.2 -12.5 ValAdv t 26.83 -1.46 -27.8 -8.5 MultiAstBalOppty 10.42 -0.14 -10.2 4.3 HiInA p 3.14 -0.03 -7.6 4.7 IntrinsicValInst 12.03 -0.68 -22.9 -4.6 ForeignVal I r 15.23 -0.91 -31.1 -21.6
MedDurGS2 15.46 NA NA NA GblStrIncmA p 3.26 NA NA NA GlbEqIncC 5.41 -0.17 -21.6 -14.4 JPMorgan C Class: MultiAstInc 13.79 -0.08 -8.9 3.4 IntGrA t 31.61 -0.91 -14.5 11.8 LgShInst 14.69 0.02 -0.2 16.2 PolForegValOrd tn 15.27 -0.92 -31.2 -22.5
ValEqGS2 14.84 NA NA NA GlbOppA p 55.33 -0.93 -9.6 17.2 GlbResch T nr 74.00 -1.52 -12.1 17.4 CoreBond p 12.29 0.04 3.8 12.3 ShDurTxFr 15.45 0.04 -1.6 3.6 IntlDvFdA t 17.65 -0.40 -15.4 6.3 MultCpOptyInst 13.74 -0.51 -18.8 12.6 Perm Port Funds:
Glcoreeq p 12.59 -0.54 -19.6 -4.8 GblResh Inst 49.68 -1.02 -12.2 17.8 InvBal p 13.65 -0.20 -6.6 9.2 ShtDurIncmA p 4.05 0.00 -2.6 5.0 IntlIntVA t 41.38 -1.02 -8.9 15.3 StrIncInst 10.28 0.03 -5.9 4.8 Permanent n 38.98 NA NA NA
H GlHltCr
GrIncA
40.09
17.07
0.16
-0.84
-4.4
-27.0
32.0
-12.9
GlLifeSci T nr 60.65 0.82 -0.6 42.7 InvConsvGr t 12.03 -0.09 -3.5 8.9 TaxFr p 11.14 0.06 -4.5 9.5 IntNwDA p 28.18 -0.63 -19.0 0.9 SustainableEqIns 32.33
Neuberger Berman Inv:
-0.86 -14.0 11.7 PGIM Funds Cl A:
2020FcA 14.01 -0.10 -6.8 29.4
GlTech T nr 40.19 -0.30 3.9 79.1 JPMorgan Funds: TotRet p 10.43 0.01 0.6 10.1 LtdMA p 5.96 0.00 0.0 6.5
Harbor Funds: GrowAlloc p 13.32 -0.42 -15.6 1.4 Grw&Inc T n 50.74 -1.20 -16.7 21.1 Fl EmMktEq L 27.32 -0.52 -16.5 8.9 ValOpps p 14.31 -0.77 -18.6 -4.0 MCapA 20.45 -0.12 -2.7 51.4 Focus n 22.94 -0.43 -9.1 14.7 Balanced 14.35 NA NA NA
Bond 12.13 0.04 4.1 15.7 Hyld 3.47 -0.03 -13.3 -3.1 MdCpVal T n 12.04 -0.81 -25.4 -8.0 MdCpVal L 28.54 -1.75 -28.1 -12.5 Lord Abbett C: MCpValA p 18.16 -1.13 -26.7 -8.0 Genes n 51.47 -1.74 -12.2 17.7 HighYield 4.90 -0.03 -10.1 5.4
CapApInst 80.02 0.25 5.6 62.7 HYMuA 9.26 0.05 -8.6 6.5 Resh T n 49.01 -0.36 -1.6 44.6 USEquity L 15.03 -0.43 -6.6 29.6 BdDeb 7.37 -0.04 -8.5 3.1 MIGA p 30.13 -0.71 -8.6 45.8 Guard n 18.42 -0.22 -2.3 40.7 JennBlend 17.88 -0.40 -12.7 14.8
CapApInv pn 76.12 0.23 5.5 60.9 IntlBdA p 4.79 NA NA NA SCVal T n 15.70 -1.41 -31.8 -17.6 JPMorgan I Class: FloatRt p 7.54 -0.01 -13.2 -6.6 MITA p 28.94 -0.54 -11.7 23.0 IntlEqInst r 11.34 -0.38 -17.5 -1.6 JennGrowth 43.97 0.14 6.3 62.2
IntlInst r 31.22 -1.01 -22.1 -16.5 IntlDivA 15.86 -0.61 -14.7 2.7 ShtTmBd T n 3.00 0.00 0.2 5.5 CoreBond 12.20 0.04 4.1 15.3 ShtDurIncmC t 4.08 0.00 -2.9 3.1 ModAllA p 17.14 -0.26 -7.6 15.6 LCVal n 25.85 -1.17 -20.0 8.2 JennHealthSci 46.72 1.25 6.9 39.4
LgCpValue 14.34 -0.63 -17.6 11.4 IntlGrow 26.51 -0.66 -17.9 -3.4 Venture T n 69.76 -2.05 -14.1 18.5 CorePlusBd 8.58 0.02 2.7 14.2 Lord Abbett F: MuHiA 7.77 0.03 -7.5 7.5 MdCpGrInv n 15.17 -0.18 -3.4 36.6 JennMidCapGrowth 20.37 -0.39 -7.1 28.5
SmCpValInst 26.16 -2.06 -25.1 -8.2 IntlGrowA p 37.92 -1.18 -14.9 -3.0 Jensen I : EmMktEq I 27.11 -0.52 -16.5 8.6 BdDeb 7.34 -0.03 -8.1 5.4 MuInA p 8.57 0.05 -3.8 8.5 Neuberger Berman Tr: JennUtility 13.39 -0.37 -14.0 17.4
Harding Loevner: IntlSmCoA 42.93 -0.63 -11.0 16.6 EqInc 15.52 -0.52 -19.6 9.5 Genes n 51.47 -1.74 -12.2 17.4 NationalMuni 14.52 0.11 -2.6 7.9
n-

Jensen I 47.30 -0.96 -8.3 37.4 FloatRt p 7.52 -0.01 -13.1 -4.6 MuLtA 8.14 0.03 -1.1 6.7
EmgMktsAdv n 45.01 NA NA NA IntTMIA p 10.81 0.05 -4.0 6.3 JensenQualGrJ n: EqIndx 43.69 -0.99 -10.7 25.8 HiYld p 6.39 -0.05 -12.7 -0.8 NewDA t 26.14 -0.46 -6.2 49.0 GenesisFdR6 51.34 -1.74 -12.1 18.6 ShrtTermCorpBond 10.98 0.01 -0.2 7.2
IntlEq 19.85 NA NA NA InvescoFd p 23.89 0.79 14.3 55.0 JensenQualGrJ n 47.29 -0.97 -8.4 36.3 GrAdv r 23.62 -0.25 4.2 63.0 HYMuniBd 11.21 0.05 -9.9 8.5 ReInA p 16.57 -0.38 -16.1 3.1 Nicholas Group: TotalReturnBond p 14.30 NA NA NA
Hartford Funds A: InvGloblFdA 84.51 -1.03 -11.9 15.8 John Hancock: GvBd 11.34 0.02 6.4 15.6 Income 2.74 0.00 -4.4 8.8 RetBdA t 11.06 0.03 1.5 12.6 Nch II I 24.51 -0.69 -13.4 25.9 PGIM Funds Cl C:
BalIncA 13.69 -0.15 -7.6 12.2 LmtdTrmMunInc p 11.24 0.03 -0.6 5.0 500Index1 33.77 -0.76 -10.8 25.4 HighYld 6.37 -0.04 -10.6 1.3 IntrTxFr 10.67 0.05 -3.5 7.7 RschA p 41.83 -0.84 -9.3 28.7 Nich n 63.88 -0.92 -8.1 30.6 TotalReturnBond 14.29 NA NA NA
CapAppA p 32.83 -0.83 -12.3 19.0 LmtTermBd p 4.46 NA NA NA BondI 16.13 0.00 1.4 13.8 IntmdTFBd 10.98 0.07 0.3 9.4 NatlTxF p 11.14 0.07 -4.4 9.9 TechA p 50.21 0.04 6.5 68.2 Northern Funds: PGIM Funds Cl Z:
Chks&Bal p 8.54 -0.17 -8.8 16.1 LtdTermMuA p 4.20 -0.15 -5.0 10.9 BondR6 16.15 0.00 1.5 14.1 LgCpGwth 44.17 -0.07 8.7 75.3 ShtDurIncm 4.05 0.00 -2.6 5.3 TotRA p 18.01 -0.33 -9.3 10.3 ActMIntlEq nr 8.59 -0.29 -22.1 -7.0 GlobalRealEstate 18.15 -1.31 -24.5 -2.4
no

DiscpEqA p 30.87 -0.74 -11.7 29.2 LTGovA p 4.44 NA NA NA CapApprNAV 16.76 0.05 6.5 63.6 MdCpGrw 38.62 -0.55 0.2 52.2 ShtDurTxF p 15.46 0.05 -1.5 4.0 UtilA p 19.17 -0.54 -15.2 12.9 BdIdx n 11.19 0.03 4.9 15.9 HighYield 4.91 -0.03 -10.0 6.2
DivGth A p 21.84 -0.77 -17.2 11.7 MfCpCEq 13.85 -0.93 -18.7 -3.2 ClassicVal I 19.98 -1.76 -39.0 -28.2 MdCpVal 28.15 -1.73 -28.1 -13.1 TotRet 10.43 0.01 0.7 10.4 ValueA p 35.87 -1.20 -18.9 4.9 CAIntTxEx n 10.79 0.07 0.2 9.5 JennGrowth 48.13 0.16 6.4 63.8
EqInc t 15.99 -0.53 -18.1 5.7 MnStFndA 42.53 -0.89 -11.7 15.5 DispVal I 15.78 -0.62 -23.9 -4.3 MtgBckd 11.49 0.01 2.5 12.8 Lord Abbett I: MFS Funds Class C: EmMktsEqIdx nr 9.93 NA NA NA JennHealthSci 52.52 1.40 7.0 40.6
FltRateA t 7.60 0.01 -9.2 -0.5 MnStOpA p 17.65 -0.35 -9.6 16.8 ShtDurBnd 11.02 0.01 1.9 7.7 FixIn n 10.39 0.02 1.5 12.6 JennMidCapGrowth 23.85 -0.45 -7.0 29.6
DispValMdCpR6 16.53 -1.07 -25.7 -8.8 BdDebentr 7.31 -0.04 -8.1 5.7 ConAllC p 15.15 -0.14 -4.9 11.7
GrOppty t 42.33 0.32 7.5 57.9 MnStSmCpA p 20.43 -1.42 -19.0 0.8 GlbREIdx nr 8.06 -0.64 -28.8 -10.6 JennSmallCompany 17.33 -0.79 -25.7 -8.1
DispValR6 15.81 -0.62 -23.9 -4.0 SmartR2020 16.39 -0.17 -6.5 9.8 DevlpGro 25.57 -0.14 4.6 70.2 GrAllC p 18.93 -0.39 -11.6 12.8
GrowAllA p 11.11 -0.27 -13.7 7.1 ModeAlloc p 10.96 -0.55 -12.8 2.8 HiYFxInc n 5.81 -0.03 -12.1 1.6 TotalReturnBond 14.25 NA NA NA
GblShrhYldI 9.03 -0.26 -21.6 -7.4 SmCap 46.78 -2.63 -21.9 -0.2 FloatRt 7.54 -0.01 -13.0 -4.1 Growth C t 94.85 -0.14 1.6 58.2
Hlthcare 38.40 0.39 1.9 38.8 ModInvA 10.17 NA NA NA HiYMuni n 8.13 0.04 -7.4 5.0 PIMCO Fds Admin:
IntlGrwI 26.47 -0.49 -12.0 13.2 SR2030 I 16.96 -0.34 -11.2 8.6 FundlEq 9.44 -0.36 -21.6 -2.3 ModAllC p 16.79 -0.26 -7.9 13.0
MidCap A p 26.05 -1.34 -14.8 19.5 MunInA 12.80 0.07 -4.4 7.4 IntlEqIdx nr 10.10 NA NA NA ShortTrmAd p 9.69 0.02 0.1 5.2
MdCpIdxI 16.46 -1.01 -23.0 -5.3 SR2040 I 18.25 -0.49 -14.6 6.7 HiYld 6.43 -0.05 -12.6 -0.4 TotRC t 18.14 -0.33 -9.5 7.8
Muti-AstIncGw 18.63 -0.11 -7.9 8.8 RchHiYldMuniA 7.27 0.06 -6.7 14.8 IntTxExpt n 10.74 0.06 0.6 10.1 TotRtAd p 10.67 0.02 4.2 14.8
Science&TechI 30.87 -0.12 4.9 68.0 TxAwEq 34.93 -0.58 -6.1 30.8 ShtDurInc p 4.05 0.00 -2.6 5.7 ValueC t 35.44 -1.20 -19.1 2.5
MunOpptA t 8.64 0.05 -2.0 9.1 RealEst p 15.24 -1.28 -25.7 -4.5 MidCpIdx n 14.89 -0.92 -23.0 -4.5 PIMCO Fds Instl:
ShtDur 9.71 0.01 -1.4 5.9 RisingDivA 18.06 -0.40 -12.6 15.6 ShIntTaxFr n 10.48 0.04 1.1 6.4 AllAsset 10.27 NA NA NA
TotRBdA p 10.81 0.05 2.7 14.9 RochAMTFrMuni 7.40 0.05 -1.4 17.5 SmCapIdx n 10.01 -0.58 -24.5 -6.6 AllAssetAuth r 6.87 NA NA NA
WorldBond 10.53 0.02 0.3 9.4 RochCAMuni 8.70 0.06 -1.5 14.8 SmCpVal n 13.46 -1.37 -34.6 -25.6 CommodtyRR 4.39 NA NA NA
Hartford Funds C: RochLmtTrNYMuni p 2.97 0.01 -1.9 10.6 NOTICE TO READERS: StkIdx n 32.89 -0.75 -10.7 26.1 DivInc 10.41 NA NA NA
Bal IncC 13.47 -0.14 -7.9 9.7 RochPAMuni 10.83 0.04 -2.8 14.9 TxExpt n 10.77 0.08 0.1 11.5 EmMktsBd 9.56 0.08 -9.0 3.6
Hartford Funds I: RoMu A p 15.95 0.12 -3.7 17.5 Sign up for the Weekly Market Lab Newsletter: barrons.com/newsletters Nuveen Cl A: EmrgMktCur&STInv 7.16 -0.01 -11.0 -5.4
BalIncI 13.70 -0.14 -7.6 13.1 SenFltRtA 6.29 0.00 -14.5 -11.4 Please visit the new Market Lab home page on barrons.com under Data. AAMunBd p 11.40 0.08 -3.0 10.7 ExtdDur 11.23 NA NA NA
CapAppI 33.02 -0.83 -12.1 20.0 ShortTerm p 8.40 -0.01 -1.4 5.0 CAMunBd p 11.17 0.08 -1.2 10.6 GlblBdOppUSH 10.14 -0.01 -0.2 8.8
DivGthI 21.72 -0.77 -17.2 12.6 SP IncomeA 2.53 -0.05 -41.5 -47.0 www.barrons.com/market-data/market-lab HiYldMuBd p 16.02 0.15 -9.3 9.7 HiYld 8.18 -0.08 -7.8 6.3
EmrgMktEqInv r 13.64 -0.18 -17.8 -1.2 Tech p 51.87 -0.27 4.1 57.2 IntDMunBd p 9.26 0.06 -1.3 10.1 HiYldMuniBd 8.86 0.05 -4.9 12.3
May 18, 2020 BARRON’S M27

Mutual Funds Data provided by

Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr.
NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret.
IntlBdUnhedged r 9.00 -0.08 -6.7 2.8 HelSci n 84.18 1.96 3.4 52.0 LT2030In 13.10 -0.25 -9.6 12.6 LgCapGr F 36.66 NA NA NA LifeStkIdx 24.72 -0.63 -11.8 23.0 BalAdml n 37.00 -0.53 -4.9 21.8 LifeCon n 20.13 -0.18 -3.8 14.4 TotItlInstPlId r 95.22 -2.33 -20.1 -6.6
IntlBdUSH 10.65 0.00 0.2 13.3 HiYield n 5.97 -0.03 -8.7 4.5 LT2030J tn 13.05 -0.25 -9.7 12.0 LgCVal F 17.90 NA NA NA LrgCpGrIdxInst 36.30 -0.34 -0.1 54.5 CAITAdml n 12.03 0.07 0.4 11.0 LifeGro n 32.04 -0.64 -11.3 12.0 TotStInst 69.99 -1.81 -11.7 23.3
InvGrdCrBd 10.56 0.02 -1.9 14.6 InstCorePl 10.53 0.03 0.1 12.0 LT2040I 13.55 -0.33 -12.0 12.5 MgdVol F 14.71 NA NA NA LrgCpGrIdxRet 36.56 -0.35 -0.2 53.4 CALTAdml n 12.44 0.09 0.2 14.2 LifeInc n 16.12 -0.05 -0.1 15.1 TtlWrldIxInst p 139.38 -3.52 -15.3 9.0
LgTmRlRt 10.01 NA NA NA InstEmMEq 34.28 -0.85 -19.5 1.1 LT2040J tn 13.42 -0.33 -12.1 11.9 S&P500 F 64.01 NA NA NA LrgCpGrInst 22.54 -0.04 3.2 56.3 CapOpAdml nr 135.94 -3.60 -13.8 20.9 LifeMod n 26.66 -0.38 -7.6 13.4 TxMCaInst r 73.26 -1.76 -10.7 26.2
LgTrmCrdtBd 12.65 NA NA NA InstFLRfd r 9.05 0.01 -6.9 3.9 LT2050I 13.43 -0.36 -13.7 11.6 ShtGov F 10.60 0.00 3.1 7.6 LrgCpVl IdxInst 15.76 -0.69 -22.3 -1.0 CoStIxAd nr 71.82 -1.19 -9.3 10.8 LTIGrade n 11.32 0.08 5.3 29.9 ValueInst 36.79 -1.28 -20.6 7.0
LngDurTotRtrn 11.55 NA NA NA InstHiYld 7.94 -0.03 -8.7 5.2 MdGrIII Inst 11.22 -0.19 -5.2 38.3 TaxMgdLC F 23.56 NA NA NA LrgCpVl IdxRet 16.05 -0.70 -22.4 -1.7 DivAppIdxAdm n 30.10 -0.81 -10.6 28.3 LTTsry n 15.89 0.23 23.0 46.2 Victory Funds:
LowDur 9.84 0.00 1.3 7.6 LgCapGow I 44.66 -0.23 1.4 60.1 MidCpBldA 25.48 -0.85 -15.3 26.9 TaxMgdSmMdCp F 16.29 NA NA NA LrgCpVl Inst 14.32 -0.60 -22.2 -6.1 EMAdmr n 29.92 -0.37 -18.9 -4.8 MATxEx n 11.07 0.08 0.7 13.8 EstValA 29.84 NA NA NA
LowDurII 9.85 0.01 2.2 7.6 InstLCCoreGr 49.64 -0.07 2.0 58.7 PreSecI 9.58 -0.06 -6.4 8.0 Selected Funds: MdCpGrInst 19.95 -0.30 -6.3 28.8 EnergyAdml nr 55.95 -3.58 -37.0 -35.5 MgdPayFdInv n 14.64 -0.26 -12.7 2.6 EstValI 29.87 NA NA NA
LowDurInc r 8.08 -0.02 -4.6 6.3 LgCpVal 17.60 -0.80 -25.5 -4.8 PtrLGI In 16.22 -0.10 0.9 63.6 AmShD n 29.82 -1.15 -20.0 3.0 MdCpVl Inst 12.51 -0.62 -30.2 -18.2 EqIncAdml n 64.17 -2.06 -18.6 8.4 MidCpGro p 25.00 -0.17 -6.4 33.7 EstValR p 29.41 NA NA NA
LTUSG 7.97 0.10 22.8 45.0 InstSmCap 21.10 -0.78 -17.6 18.4 PtrLV In 13.30 -0.56 -21.9 3.7 AmShS pn 29.73 -1.15 -20.1 2.1 QuantSmCpEqInst 11.90 -0.76 -28.1 -12.4 EuropeAdml n 55.63 -2.18 -23.4 -11.5 MuHY n 11.16 0.07 -3.8 11.4 FundFIncI 8.62 NA NA NA
ModDur 10.68 0.01 4.1 13.0 IntDis n 62.42 -0.92 -8.6 10.6 RealEstSecI 21.11 -1.73 -23.5 3.7 Sequoia: RealSecInst 14.27 -1.02 -19.3 10.8 ExplrAdml n 83.57 -2.99 -14.0 24.7 MuInt n 14.35 0.09 0.1 10.4 SmCap Grwth p 70.50 NA NA NA
MortgOppBd 10.57 0.00 -1.3 8.5 IntEqIdx nr 11.30 -0.31 -20.2 -8.2 SAMBalA p 14.14 -0.28 -10.3 9.6 SequoiaFd n 143.22 -4.40 -8.9 27.6 RealSecRet 14.92 -1.07 -19.3 10.0 ExtndAdml n 78.26 -3.61 -18.0 6.5 MuLong n 11.71 0.08 -0.5 13.1 SmCoOppI 31.84 NA NA NA
RAEFndmtlAdvPLUS 8.45 NA NA NA IntlBond n 8.59 -0.06 -4.1 6.2 SAMGrA p 15.30 -0.40 -13.3 10.1 Sit Funds: S&P500IdxInst 31.60 -0.71 -10.7 26.3 GlobxUSREInx n 25.96 -1.39 -27.3 -9.2 MuLtd n 11.03 0.04 0.2 6.0 VirtusFunds:
RAEPlusEMG 7.23 NA NA NA IntlStk n 15.55 -0.34 -16.6 0.8 StrGrw A p 15.88 -0.50 -15.7 8.9 MinnTxF n 10.28 0.06 -2.7 8.5 S&P500IdxRet 31.38 -0.71 -10.8 25.4 GNMAAdml n 10.83 -0.01 3.6 11.8 MuSht n 15.83 0.03 0.4 4.6

.
CeredexLgCpVlEqI 10.61 -0.37 -23.6 0.0
RealRtnI 11.65 0.02 4.3 13.7 IntlValEq n 10.48 -0.43 -26.1 -21.9 Putnam Funds Class A: US Gov;S n 11.30 0.01 3.7 9.8 ShTrmBdInst 10.33 0.01 0.6 7.2 GroIncAdml n 75.47 -1.61 -11.0 24.4 NYLT n 11.74 0.08 -1.0 11.2 CeredexMdCpVlEqI 9.16 -0.36 -28.9 -7.8

ly
RERRStg 6.69 NA NA NA Japan n 14.59 0.07 -5.0 25.0 CATx p 7.99 0.06 -1.4 10.7 SmeadFds: SmCpBl IdxInst 15.79 -0.90 -24.2 -5.6 GrwthAdml n 94.18 -1.12 0.6 49.8 OHLTte n 12.80 0.09 1.0 14.4 GvSecUltShtBdI 10.00 -0.01 0.6 5.6
ShortT 9.69 0.02 0.2 6.0 MCapVal n 21.85 -1.10 -21.9 -8.3 DvrIn p 6.14 -0.01 -12.6 0.1 SmeadValueInstl 38.36 -1.22 -23.9 7.3 SmCpBl IdxRet 15.85 -0.91 -24.3 -6.3 HltClxAd nr 95.63 0.99 -0.1 42.6 Primcp nr 118.80 -2.94 -14.6 23.6 VirtusFunds Cl A:
ShtAssetInv 9.90 0.01 -0.3 5.6 MCEqGr 53.54 -1.29 -12.4 28.1 DynAABalA 13.85 -0.21 -7.5 9.7 SoundShoreInv n: SocChEqInst 18.40 -0.44 -11.3 24.3 HlthCareAdml nr 85.63 0.17 0.3 31.4 PrmcpCor n 22.85 -0.68 -18.2 12.9 MulSStA p 4.53 0.00 -2.9 3.5
StcksPLUSIntlHdg r 6.22 NA NA NA MD Bond n 10.59 0.04 -2.4 8.2 DynAACnA 10.62 -0.06 -1.5 10.8 SoundShoreInv n 32.21 -1.23 -24.1 -10.6 SocChEqRet 18.70 -0.45 -11.4 23.4 HYCorAdml nr 5.41 -0.05 -7.4 7.5 SelValu nr 18.13 -1.43 -33.1 -21.9 SmCapSusA 38.30 -0.54 -4.1 76.4
StcksPLUSIntUnh 4.67 NA NA NA MidCap n 84.23 -1.99 -11.6 27.2 DynAAGthA 14.67 -0.31 -11.6 7.5 Sprott Funds Trust: Tortoise Capital: InfProAd n 27.08 0.06 4.7 13.9 STAR n 25.64 -0.37 -6.2 18.8 StratGrA p 19.09 -0.19 4.7 54.2
StcksPLUSShort 7.07 NA NA NA N Asia n 17.44 -0.24 -10.5 12.5 EqIn p 21.38 -0.68 -18.8 8.8 GoldEq Inv p/r tn 47.69 2.40 14.6 31.1 TorMLPPipInsCl 7.92 -0.14 -36.5 -36.7 InfTechIdx n 126.71 -2.12 1.4 79.0 STFed n 10.95 -0.01 2.8 8.5 TactAllA p 10.10 -0.06 -0.2 28.0

on
StcksPLUSSmall 7.09 NA NA NA N Inc n 9.59 0.03 -0.2 10.6 GeorgePutBal 19.75 -0.17 -4.5 23.3 SSgA Funds: Touchstone Family Fd: IntlGrAdml n 97.85 -1.01 -4.8 28.5 STIGrade n 10.76 0.01 1.2 8.8 VirtusFunds Cl C:
StkPlsLgDur 7.19 NA NA NA NAmer n 55.48 -0.38 1.3 58.4 GlblEqty p 14.82 -0.29 -14.9 7.7 SP500 n 207.19 -4.70 -10.6 26.1 FlexIncY 10.53 -0.08 -2.4 7.4 ITBondAdml n 12.34 0.02 5.4 17.7 STIPSixInv n 24.81 0.01 0.6 6.3 MulSStC p 4.59 0.00 -3.0 2.7
StPlTRInst r 9.47 -0.23 -13.7 22.6 New Era n 24.24 -1.17 -29.5 -23.8 GlbHlthCare p 56.85 0.90 0.8 34.3 State Farm Associate: FocEqY 40.78 -1.20 -10.6 14.3 ITCorpIx n 24.46 0.07 0.6 15.6 StratgcEq n 25.27 -1.35 -24.4 -7.1 VirtusFunds Cl I:
TotRetESG 9.57 NA NA NA NHoriz n 63.79 0.16 7.4 75.0 GrOpp p 41.00 0.09 4.9 66.9 Balan n 69.90 -0.91 -7.6 16.1 LagCapFoc A p 39.06 -0.91 -8.7 30.6 ITIGradeAdml n 10.20 0.01 3.2 15.6 StrSmCpEqInv n 23.78 -1.51 -28.0 -15.8 EmMktI 9.32 -0.11 -19.3 -9.3
TotRetIV 10.98 NA NA NA NJ Bond n 11.81 0.05 -2.9 8.2 HiYld A p 5.26 -0.04 -9.1 3.2 Gwth n 79.33 -1.44 -12.0 18.4 MdCpGrwY 30.53 -0.58 -8.9 40.5 ITsryAdml n 12.12 0.01 7.6 15.9 STTsry n 10.86 0.00 3.1 8.1 ForOppI 26.20 -0.59 -13.1 7.9
TotRt 10.67 0.02 4.3 15.7 NY Bond n 11.38 0.06 -2.2 7.6 Incm p 7.07 0.00 0.0 15.1 Interm n 10.43 0.01 4.0 9.9 MdCpY 33.24 -1.56 -17.1 25.4 ITTresIdx n 23.83 0.04 7.7 16.1 TgtRe2015 n 14.64 -0.12 -3.6 14.1 IntSmCapI 15.62 -0.16 -18.0 9.6
TRII 10.16 NA NA NA OverS SF nr 8.80 -0.28 -21.4 -8.9 IntlEq p 20.01 -0.68 -18.2 -7.6 Muni n 8.93 0.05 2.5 12.2 SandsCapGrI 24.72 0.19 10.7 74.7 LarCapAd n 66.76 -1.48 -10.1 27.2 TgtRe2020 n 30.56 -0.36 -6.1 13.8 MulSStI 4.54 0.00 -2.8 4.5

us ,
TrndsMgdFutStrgy 10.73 NA NA NA QMUSSmCpGrEq n 34.18 -1.08 -13.9 19.0 NYTx p 8.43 0.07 -2.6 7.9 State Street Institu: SandsCapGrY 14.53 0.11 10.5 72.8 LTGradeAdml n 11.32 0.08 5.4 30.3 TgtRe2025 n 18.31 -0.27 -7.7 13.7 QualitySmCapI 16.69 -0.71 -13.3 3.7
PIMCO Funds: SpectConsAllo n 18.65 -0.17 -6.4 11.3 ShtDurBd 10.00 0.01 -0.5 7.8 SmCapEq (ICL) 12.88 -0.86 -25.9 -8.0 Tr for Credit Unions: LTsryAdml n 15.89 0.23 23.1 46.6 TgtRe2030 n 33.13 -0.55 -9.1 13.3

l
SmCapSusI 39.23 -0.55 -4.0 77.8
IncomeFd 11.12 NA NA NA SpectModerAllo n 22.14 -0.31 -8.9 13.0 StDurInc 10.02 0.01 0.3 5.8 State Street V.I.S.: UltShtDur TCU 9.37 0.00 0.5 4.9 LTTresIdx n 34.20 0.51 23.0 46.9 TgtRe2035 n 20.15 -0.38 -10.5 12.7 SmCpCorI 35.68 -1.84 -13.0 48.7

e
StcksPLUSIntlHdg 6.15 NA NA NA SpectModerGwAllo n 31.72 -0.62 -11.6 13.6 SustainLdrsFd p 89.40 -0.77 -5.1 44.4 TR V.I.S. Cl 1 13.76 -0.31 -13.5 1.6 Transamerica A: MatIdx nr 55.15 -2.16 -18.9 -4.5 TgtRe2040 n 34.48 -0.71 -11.9 12.2

al a
Vivaldi Merger:
TotRet 10.67 0.02 4.0 13.6 R2005 n 12.92 -0.12 -5.7 10.7 TFHY 11.69 0.07 -7.9 6.8 TR V.I.S. Cl 3 13.70 -0.32 -13.6 0.8 AsAlCnsrv p 10.18 NA NA NA MidCpAdml n 182.78 -6.81 -16.8 9.4 TgtRe2045 n 21.45 -0.49 -13.2 11.2 Arbitrage Fund 10.41 -0.03 -1.0 8.8
PIMCO Funds A: R2010 n 16.89 -0.18 -6.3 11.0 TxEx p 8.30 0.07 -3.4 8.9 Sterling Capital Fds: AsAIGrow p 10.63 NA NA NA MrgBkdIdx n 21.79 -0.02 3.3 11.9 TgtRe2050 n 34.54 -0.78 -13.2 11.3 Voya Fds:
AllAsset 10.28 NA NA NA R2015 n 13.46 -0.17 -7.2 11.4 MtgSec p 11.50 -0.05 -10.7 -0.3 SmCap 54.89 -5.07 -30.7 -17.5 AsAlMod p 10.37 NA NA NA MuHYAdml n 11.16 0.07 -3.8 11.7 TgtRe2060 n 33.13 -0.75 -13.2 11.2 GNMA A 8.61 -0.01 2.9 9.6

ci on
HiYld 8.18 -0.08 -7.9 5.2 R2020 n 20.23 -0.30 -8.4 11.9 Putnam Funds Class Y: TotRetBdI 11.01 0.02 2.8 14.7 AsAlModGr p 10.43 NA NA NA MuIntAdml n 14.35 0.09 0.1 10.6 TgtRet2055 n 37.50 -0.85 -13.2 11.2 GrOppI 47.26 -0.47 -1.8 45.8
HiYldMuniBd 8.86 0.05 -5.0 11.3 R2025 n 16.08 -0.27 -9.6 12.0 EqInc 21.39 -0.67 -18.7 9.6 Balanced 27.54 -0.34 -4.5 19.9 MuLTAdml n 11.71 0.08 -0.5 13.4 TgtRetInc n 13.66 -0.08 -2.4 13.3 InmdBdA p 10.41 0.05 1.7 13.2
IncomeFd
IntlBdUSH
11.12
10.65
NA
0.00
NA
0.0
NA
11.9
R2030 n
R2035 n
23.12
16.81
-0.45
-0.36
-10.7
-11.7
12.0
11.8
GrOpp Y
Incm
43.07
7.20
0.09
0.00
5.0
-0.1
68.2
15.9
T FocusA 34.32 0.82
Trust for Professional Ma:
30.9 94.4 MuLtdAdml n
MuShtAdml n
11.03
15.83
0.04
0.03
0.2
0.5
6.3
4.9
TotIntBdIxInv n 11.43
USGro n 45.84
0.00
-0.19
1.4
6.6
14.7
64.9
InmdBdI 10.41 0.05 1.8 14.3
TRPGrEqI 80.59 -0.50 -1.0 45.4
InvstGrCrBd 10.56 0.02 -2.0 13.3 R2040 n 23.70 -0.54 -12.4 11.7 ShtDurBd 10.02 0.02 -0.5 8.6 TCU ShtDur : PrfTrtStrtBd Ins 22.20 0.03 -1.4 12.4 NJLTAdml n 11.84 0.03 -3.7 12.7 USValue n 13.73 -0.68 -26.5 -11.2
LowDurA
LowDurInc
9.84
8.08
0.00
-0.02
1.2
-4.7
6.6
5.0
RealAssets nr 9.44
RealEst n 17.68
-0.42
-1.91
-19.7
-30.7
-7.5
-17.3
StDurInc 10.03 0.01 0.4 6.1 TCU ShtDur
TCW Funds:
9.86 0.00 2.7 8.9 Tweedy Browne Fds:
GblValue n 22.56 -0.59 -19.4 -10.1
NYLTAdml n
PacifAdml n
11.74
72.38
0.08
-0.93
-1.0
-15.8
11.5
-1.4
WellsI n
Welltn n
26.09
39.45
-0.22
-0.58
-3.7
-8.3
16.5
18.6 WXYZ
MuniBdA 9.90 0.06 -1.4 11.9 Ret2025A p 15.98 -0.27 -9.7 11.2 R CoreFxInc n 11.79 NA NA NA PALTAdml n 11.73 0.08 0.0 14.6 Wndsr n 16.30 -0.86 -24.0 -3.5 Wasatch:
RealRtnA 11.65 0.02 4.1 12.3 Ret2045 n 16.10 -0.39 -13.1 11.4 EmMktInc n 7.06 NA NA NA U PrmcpAdml nr 123.14 -3.05 -14.6 23.9 WndsrII n 30.03 -1.04 -17.5 7.0

er s
CoreGr n 62.61 -2.41 -12.9 29.7
ShtTmA 9.69 0.02 0.1 5.2 Ret2045R 15.77 -0.39 -13.3 9.7 RBC Funds: SelEqtyI n 27.89 NA NA NA RealEstatAdml n 97.51 -8.86 -25.3 -4.6 VANGUARD INDEX FDS: IntlGr n 27.79 -0.17 -10.4 11.1
TotRetA 10.67 0.02 4.1 14.5 Ret2055 n 13.81 -0.33 -13.1 11.2 AccCpCommInvI 9.16 -0.01 3.1 10.0 TotRetBondI n 10.45 NA NA NA UM Funds: S&PSC600Idx 215.08 -17.52 -29.8 -11.7 500 264.96 -5.98 -10.7 26.0
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

MicCap n 7.25 -0.03 -4.9 68.5


PIMCO Funds Admin: Ret2055 13.70 -0.33 -13.2 10.4 RiverNorth Funds: TCW Funds N: BehavVal 36.84 -4.57 -41.3 -32.0 SmCapAdml n 61.49 -3.32 -22.3 0.0 ExtndIstPl 193.13 -8.89 -18.0 6.6 SmCapGr n 35.54 -0.83 -9.2 46.1
IncomeFd
PIMCO Funds C:
11.12 NA NA NA RetBal Inc n
SciTec n
14.49
41.84
-0.16
-0.77
-6.0
-3.1
10.3
53.5
m er
RNDLIncomeI 9.66
Royce Funds:
NA NA NA TotRetBdN pn 10.77
Templeton Class A:
NA NA NA USAA Group:
500Indx Reward n 39.40 NA NA NA
SmGthAdml n
STBondAdml n
62.56
10.84
-1.72
0.01
-10.3
3.3
26.3
10.1
FTAIWdInPl
Growth
89.52
94.20
-2.22
-1.12
-19.9
0.6
-6.0
49.3
UltraGr n 31.15 0.32 9.6 92.8
USTry n 23.00 0.48 27.0 55.3
IncomeFd 11.12 NA NA NA Sht-Bd n 4.73 0.00 0.8 7.1 PAMut I nr 7.15 -0.44 -24.3 -2.1 TGlTotRA 10.25 -0.04 -6.0 -5.3 CA Bd n 11.16 NA NA NA STCorpIx n 22.02 0.04 0.8 9.7 ITCorpIxInst 30.23 0.10 0.6 15.6
WCM Focus Funds:
TotRetIncC 10.67 0.02 3.9 11.9 SmCap n 34.71 -2.24 -27.6 -10.6 PremierI nr 9.98 -0.62 -22.5 6.6 Templeton Instit: CapGr n 9.20 NA NA NA STFedAdml n 10.95 -0.01 2.8 8.9 ITTresIdx Inst 29.57 0.04 7.7 16.2
WCMFocIntlGrwIns 17.27 -0.42 -8.7 26.7
PIMCO Funds I2: SmCapStk n 43.13 -1.58 -17.5 18.0 SpecEqI nr 13.95 -0.76 -20.7 -12.8 IntlEqSer Primar 12.22 NA NA NA CrnrsMod n 13.69 NA NA NA STIGradeAdml n 10.76 0.01 1.2 9.1 LTTresIdx Inst 43.41 0.65 23.1 47.0
Weitz Funds:
All Asset 10.29 NA NA NA SpecGr n 20.11 -0.48 -13.7 12.6 TotRet I nr 7.81 -0.60 -28.2 -13.3 The Bruce Fund: CrnstModAggr n 23.02 NA NA NA STIPSIxAdm n 24.85 0.01 0.6 6.6 MdCpGrAdml n 63.91 -1.41 -6.3 30.4
PIIIOpp 14.05 -0.41 -12.3 14.5
ComPLUSStrtgyFd 3.34 NA NA NA SpecInc n 11.79 -0.09 -6.3 5.6 RS Funds: BruceFund n 542.09 -7.44 -8.2 17.1 ExtMktIn n 16.12 NA NA NA STsryAdml n 10.86 0.00 3.1 8.5 MdCpVlAdml n 44.69 -2.51 -27.1 -9.5
m rp
GNMAGvtSec 11.41 NA NA NA SpecIntl n 11.43 -0.30 -18.8 -4.2 CoreEqVIP 37.22 NA NA NA Gr&Inc n 17.70 NA NA NA STTresIdx n 20.76 0.00 2.9 8.1 MidCp n 40.29 -1.50 -16.8 9.0 ShtDurIncInst 12.15 0.01 -0.5 5.7
Third Avenue:
Income 11.12 NA NA NA SuMuInc n 11.63 0.07 -3.6 8.0 InvQBdVIP 12.88 NA NA NA Gr&TxStr n 20.16 NA NA NA TotBdAdml n 11.49 0.03 4.9 16.3 RUSS2000IdxInst 192.78 -11.01 -24.2 -5.7 ValueInv n 42.19 -0.85 -10.0 24.8
REVal Inst r 18.20 -1.51 -28.0 -22.3
IntlBdUSH 10.65 0.00 0.1 12.9 SuMuInt n 11.91 0.06 -1.0 8.3 Russell Funds S: Grwth n 26.23 NA NA NA TotIntBdIdxAdm n 22.85 0.00 1.3 14.8 SmCap 61.46 -3.32 -22.3 -0.4 Wells Fargo Adv Admi:
Thompson IM Fds,Inc:
InvstGrCrBd 10.56 0.02 -1.9 14.3 TaxEfEqty nr 37.29 -0.37 -2.8 49.8 EmerMkts 15.14 NA NA NA Bond n 10.35 -0.05 -8.9 -0.3 HiIncm n 6.79 NA NA NA TotIntlAdmIdx nr 23.81 -0.58 -20.1 -6.7 SmValAdml n 39.88 -3.30 -32.0 -19.2 Growth 39.94 -0.54 1.8 60.6
LowDurInc 8.08 -0.02 -4.6 6.0 TF Incom n 11.18 0.04 -8.2 4.8 IntlDvMkt n 27.92 NA NA NA Thornburg Fds: Inco n 13.28 NA NA NA TotStAdml n 69.98 -1.81 -11.8 23.2 TotBd 11.49 0.03 4.9 15.9 Wells Fargo Adv Cl A:
LwDur 9.84 0.00 1.3 7.3 TF Incom n 9.84 0.05 -2.9 7.9 InvGrdBd n 22.40 NA NA NA IncBuildA t 17.20 -0.51 -22.4 -6.0 IncStk n 14.03 NA NA NA TxMBal nr 32.37 -0.25 -4.9 18.5 TotBd2 11.41 0.03 4.6 15.7 AstAllA p p 12.95 NA NA NA
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

RealRtn 11.65 0.02 4.3 13.3 TFSI n 5.63 0.02 0.2 5.0 RESec n 24.93 NA NA NA IncBuildC p 17.18 -0.51 -22.6 -8.1 Intl n 19.96 NA NA NA TxMCapAdml n 147.42 -3.54 -10.7 26.1 TotIntl n 14.23 -0.35 -20.1 -6.9 CA TF A 11.69 0.07 -1.4 9.1
ShtTm 9.69 0.02 0.1 5.6 TotIndex n 31.23 -0.83 -12.2 21.6 StratBd n 11.33 NA NA NA IntVal I 20.37 -0.35 -15.5 -3.7 IntmTerm n 13.25 NA NA NA TxMIn r 11.22 -0.32 -20.3 -7.0 TotSt 69.95 -1.81 -11.8 22.9 CmStkA p p 14.70 -0.93 -25.2 -5.2
DivCapBldr 9.63 -0.20 -10.6 16.1
co o

TotRt 10.67 0.02 4.2 15.3 U.S.EqResch n 27.55 -0.58 -10.9 26.9 TaxExBd n 22.91 NA NA NA IntValA p 19.67 -0.34 -15.4 -4.4 LgTerm n 13.04 NA NA NA TxMSC nr 47.69 -3.87 -29.5 -11.2 VANGUARD INSTL FDS:
PIMCO Funds Instl: USLrgCpCore n 23.73 -0.43 -11.3 21.7 TMUSMdSmCp n 22.89 NA NA NA LtdTIn 13.69 0.02 2.3 9.9 Nasdaq100 n 25.42 NA NA NA USGroAdml n 118.77 -0.49 6.6 65.4 BalInst 37.01 -0.52 -4.9 21.8 IdxAstAllA 35.26 -0.47 -2.1 22.1
ComPLUSStrtgyFd 3.35 NA NA NA USTInter n 6.34 0.01 8.2 16.6 TxMngUSLgCp n 42.95 NA NA NA LtdTIncI 13.69 0.02 2.3 10.9 ntTerBd n 10.64 NA NA NA UtilIxAd nr 60.31 -1.80 -15.4 15.7 DevMktsIndInst 11.24 -0.32 -20.3 -6.9 OmegaGwth 55.30 -0.27 1.0 58.6
DynamicBd 10.24 -0.02 -2.5 7.3 USTLg n 15.67 0.23 23.6 46.8 USSmCpEq n 19.79 NA NA NA LtdTMu I 14.43 0.06 0.4 6.3 PrecMM n 19.62 NA NA NA ValAdml n 36.79 -1.28 -20.6 6.9 DevMktsInxInst 17.56 -0.50 -20.3 -6.9 OpptyA 37.82 -1.16 -13.6 16.3
PremLgCoGrthA 13.54 -0.13 -0.7 53.3
F

GNMAGvtSec 11.41 NA NA NA VABond n 11.91 0.08 -1.2 8.9 Russell LifePoints A: LtdTMuA 14.43 0.06 0.4 5.5 S&PIdx n 39.37 NA NA NA WdsrllAdml n 53.29 -1.85 -17.5 7.3 EmgMktInstPl 75.68 -0.95 -18.9 -4.6
IncomeFd 11.12 NA NA NA Value n 29.92 -1.20 -21.1 1.0 BalStrat p 9.22 NA NA NA Thrivent Funds A: SciTech n 24.21 NA NA NA WellsIAdml n 63.19 -0.54 -3.7 16.8 EmMkInst r 22.75 -0.29 -18.9 -4.6 StrMunA 9.01 0.04 -1.2 6.9
InflRespMulAsset 7.53 NA NA NA Price Funds - Adv Cl: Rydex Investor Class: DivrIncPlus 6.73 NA NA NA ShtT n 10.36 NA NA NA WelltnAdml n 68.13 -1.00 -8.3 18.9 EuroInst 23.72 -0.93 -23.4 -11.5 Wells Fargo Adv Inst:
RAEPLUSIntl 5.12 NA NA NA BlChip p 124.26 -0.21 1.8 56.8 NasdaqInv n 46.46 -0.35 4.5 58.8 LgCpStk 20.57 NA NA NA ShtTBdA n 9.05 NA NA NA WndsrAdml n 54.99 -2.90 -23.9 -3.2 ExDurTrsInst 51.06 1.14 31.3 67.0 CoreBd 13.72 0.03 4.8 15.5
Pioneer Funds A: CapAppA p 29.28 -0.55 -5.2 26.3 MidCapStk 18.89 NA NA NA SmCpStk n 12.24 NA NA NA VANGUARD FDS: ExtDurTreIntPl 128.18 2.85 31.3 67.2 Growth 44.42 -0.60 1.9 61.7
AMTFreeMuniA p p 15.29
BondA 9.60
0.19
0.03
1.7
-1.8
15.4
8.5
Growth p
MCapGro p
70.87
81.25
-0.46
-1.92
-0.9
-11.8
44.7
26.1
S MuniBd
Thrivent Funds S:
11.15 NA NA NA TarRet2020 n
TarRet2030 n
11.13
11.15
NA
NA
NA
NA
NA
NA
CAIT n
CALT n
12.03
12.44
0.07
0.09
0.4
0.2
10.7
13.9
ExtndInst
FTAlWldIst r
78.26
84.53
-3.60
-2.10
-18.0
-19.9
6.6
-6.1
MdCpVal
ShDurGovBdI
30.97
9.89
-1.68
0.00
-26.6
3.0
-5.9
8.0
CoreEqA 18.00 -0.60 -11.3 21.0 R2020A p 20.07 -0.29 -8.4 11.1 Schroder Funds: LgCpVal n 18.35 NA NA NA TarRet2040 n 10.82 NA NA NA CapOp nr 58.86 -1.56 -13.9 20.7 FTScinst 19.71 -0.35 -9.5 32.7 UlStInc 8.45 0.00 -0.3 6.1
DiscGrA 17.13 -0.33 -3.3 39.5 R2030A p 22.90 -0.45 -10.8 11.2 NAmerEqInv n 15.44 NA NA NA MidCapStk n 21.67 NA NA NA TarRet2050 n 10.96 NA NA NA CapValue n 11.56 -0.61 -20.6 -0.6 GrwthInst 94.18 -1.13 0.6 49.8 UlStMuInc 9.55 0.00 0.0 4.0
EqIncA 28.48 -1.14 -21.6 -0.3 R2035 16.72 -0.36 -11.7 11.0 Schwab Funds: OppIncmPl n 9.53 NA NA NA VA Bd n 11.23 NA NA NA DivdGro n 26.76 -0.68 -12.3 27.7 InPrSeIn 11.03 0.02 4.7 14.0 Western Asset:
HighIncMuniA 6.87 0.01 -7.1 9.0 R2040A p 23.46 -0.54 -12.5 10.9 1000 Inv nr 63.32 -1.53 -11.0 25.4 TIAA-CREF/Instl Cl: ValueFd n 12.14 NA NA NA DivrEq n 34.31 -0.86 -9.7 26.3 InstIdx 256.06 -5.77 -10.7 26.4 CoreBondA 13.20 NA NA NA
MdCapVa 17.11 -0.96 -26.2 -16.2 Ret2045-A p 15.98 -0.39 -13.2 10.6 Balanced n 15.00 NA NA NA CoreBond Inst 10.74 0.04 1.9 13.6 WldGr n 21.82 NA NA NA EmgMktSelStk n 17.69 -0.36 -23.5 -8.4 InstPlus 256.08 -5.76 -10.7 26.5 CoreBondI 13.21 NA NA NA
PioFdA 27.52 -0.41 -6.7 35.5 Ret2050-A p 13.46 -0.33 -13.2 10.5 CATxFrBd n 11.97 0.08 -0.2 9.3 CorePlsBd 10.63 0.02 0.5 12.3 Energy nr 29.83 -1.90 -37.0 -35.7 InstTStIdx 59.87 -1.55 -11.8 23.3 CoreBondIS 13.22 NA NA NA
SelMCGrA
StratIncA p p 10.01
42.11 -0.26
0.03
-6.4
-8.0
36.2
2.0
SciTec p
TF Incom p
41.09
9.85
-0.77
0.06
-3.2
-3.0
52.2
6.8
CoreEq n
DivEqSel n
19.96
11.26
-0.35
-0.49
-11.7
-24.5
17.7
-7.8
TIAA-CREF/Retail Cl:
EqIdx n 20.96 -0.55 -11.9 22.0
V EqInc n
Explr n
30.62
89.81
-0.98
-3.22
-18.6
-14.1
8.1
24.3
InstTStPlus
ITBdInst
59.87
12.34
-1.54
0.02
-11.8
5.5
23.3
17.8
CorePlusBdA 11.90
CorePlusBdI 11.91
NA
NA
NA
NA
NA
NA
Pioneer Funds Y: Price Funds - R Cl: FunIntlLgInst nr 6.66 -0.25 -26.2 -16.1 Gro&Inc n 18.04 -0.39 -12.0 19.0 VALIC: EXPValFd n 24.28 -2.11 -33.7 -19.5 ITBdInstPI 12.34 0.02 5.5 17.8 CorePlusBdIS 11.91 NA NA NA
n-

AMTFreeMuniY 15.23 0.19 1.7 16.0 BlChipR p 118.97 -0.21 1.7 55.6 FunUSLgInst nr 14.29 -0.53 -19.7 8.0 LrgCpGro n 22.48 -0.04 3.0 54.9 CoreBd 11.88 NA NA NA FTAlWldInAdml n 26.66 -0.67 -19.9 -6.2 LaCapInst 274.78 -6.08 -10.1 27.2 IntermedBdI 11.23 NA NA NA
BondY 9.51 0.02 -1.7 9.6 ExtIndex nr 23.91 -1.13 -18.3 5.4 HlthCare n 25.82 0.36 0.1 33.2 MgdAlloc n 11.77 -0.16 -8.4 11.3 CoreVal 9.23 NA NA NA GlbCapCyl Inv nr 6.98 -0.17 -16.0 -27.5 LTBdInst 16.44 0.17 9.9 34.6 IntermedBdIS 11.24 NA NA NA
SelMCGrY 46.29 -0.29 -6.3 37.2 GrowthR p 68.09 -0.44 -1.0 43.6 InflProSel n 11.78 0.02 4.6 14.3 TIAA/CREF Funds: FrgnVal 7.19 NA NA NA GlbEq n 27.28 -0.67 -14.2 13.6 LTBdInstPl 16.44 0.17 9.8 34.6 IntermTermMuniA 6.15 NA NA NA
StratIncY p p 10.01 0.03 -7.9 3.0 R2020R p 19.87 -0.29 -8.5 10.3 IntI Sel nr 16.50 -0.49 -20.4 -7.2 BdIdxInst 11.55 0.03 4.9 15.8 GlobEq 6.97 NA NA NA GlobMinVolFdInv n 12.19 -0.24 -16.1 8.7 LTCorplxinst 33.32 0.26 0.5 25.3 IntermTermMuniI 6.15 NA NA NA
Price Funds: R2030R p 22.68 -0.45 -10.9 10.3 IntlMstr nr 19.43 -0.55 -18.9 -4.9 EqIdxInst 20.59 -0.53 -11.8 23.1 HighYdBd 7.16 NA NA NA GloMinVolFdAdm n 24.39 -0.48 -16.1 8.9 MidCpInst 40.38 -1.50 -16.7 9.4 ManagedMuniA 15.49 NA NA NA
2050RetFd n 13.60 -0.33 -13.0 11.4 R2040R p 23.28 -0.53 -12.6 10.1 MT AllEq n 15.34 NA NA NA EqIdxRet 20.89 -0.54 -11.9 22.1 HlthSci 21.65 NA NA NA GNMA n 10.83 -0.01 3.5 11.4 MidCpIstPl 199.13 -7.42 -16.7 9.4 ManagedMuniI 15.51 NA NA NA
MortgBackSecA 10.07 NA NA NA
no

Balnanced n 22.71 -0.36 -8.5 14.5 Ret2025-R p 15.79 -0.28 -9.8 10.3 MT Bal n 16.75 NA NA NA Gr&IncInst 12.95 -0.29 -12.0 20.0 InflPro 11.18 0.00 -0.1 9.2 GroInc n 46.22 -0.99 -11.1 24.0 RealEstaInstl 15.09 -1.37 -25.3 -4.6
BdEnhIdx nr 11.63 0.02 4.5 15.7 Ret2035-R 16.51 -0.35 -11.8 10.2 MT Gro n 19.88 NA NA NA HgYldInst 8.60 -0.06 -11.2 3.1 IntlEq 5.71 -0.19 -20.9 -8.8 HlthCare nr 203.07 0.41 0.3 31.2 Rs1000GrwIdxInst 346.20 -3.25 -0.2 54.5 MortgBackSecI 10.11 NA NA NA
BlChip n 126.70 -0.21 1.9 58.1 Ret2050-R 13.33 -0.32 -13.2 9.7 S&P Sel n 44.11 -0.99 -10.7 26.4 InflLkdBdInst 11.78 0.01 2.6 9.9 IntlGro 11.62 NA NA NA HYCor nr 5.41 -0.05 -7.5 7.2 Rs1000Vl IdxInst 180.03 -7.90 -22.4 -1.1 NewYorkMuniA 12.81 NA NA NA
CA Bond n 11.34 0.05 -2.5 8.6 PRIMECAP Odyssey Fds: SmCp Sel nr 22.08 -1.26 -24.2 -5.8 IntlEqIdxInst 15.95 -0.47 -20.2 -6.9 IntlSmCpEq 17.36 NA NA NA InflaPro n 13.79 0.03 4.6 13.6 Russ1000IdxInst 253.19 -6.06 -11.0 25.4 ShortTermBdIS 3.89 NA NA NA
Communica&Tech n 135.64 -0.10 9.6 62.2 AggGrowth nr 39.74 -0.94 -11.5 19.6 Trgt2020 nr 13.46 NA NA NA IntlEqIdxRet 16.32 -0.48 -20.3 -7.6 LgCpGro 15.80 -0.38 -8.6 45.7 IntlExplr n 14.05 -0.30 -21.6 -14.4 Russ3000Idx 248.70 -6.43 -11.8 23.0 TotalRetUnconI 9.74 NA NA NA
CorpInc n 9.56 0.05 -2.3 12.5 Growth nr 34.43 -0.95 -15.9 16.2 Trgt2030 nr 13.94 NA NA NA IntlEqInst 9.15 -0.19 -20.2 -15.1 MidCpIdx 18.56 -1.14 -23.1 -5.1 IntlGr n 30.75 -0.32 -4.9 28.0 SmCapInst 61.48 -3.32 -22.3 0.0 Westwood:
DivGro n 46.69 -0.92 -12.1 26.6 Stock nr 27.16 -0.89 -21.3 6.6 Trgt2040 nr 14.13 NA NA NA LC2015Ret 11.70 -0.10 -5.8 11.7 MidCpVal 13.66 NA NA NA IntlVal n 28.75 -0.85 -23.4 -11.6 SmCapIstPl 177.47 -9.58 -22.3 0.0 IncomeOppI 11.85 -0.15 -6.4 10.9
DvsfMCGr n 33.65 -0.67 -8.2 37.6 Principal Investors: TSM Sel nr 49.30 -1.28 -11.9 22.8 LC2020Ret 12.30 -0.12 -6.6 11.9 SciTech 28.03 NA NA NA INSTTRF2015 22.18 -0.18 -3.5 14.3 SmGthInst 50.10 -1.38 -10.3 26.3 Wilmington Funds:
EmgMktB n 9.90 0.02 -13.2 -8.4 CalMuA p 10.41 0.06 -3.0 8.8 TxFrBd n 11.76 0.07 -1.0 8.5 LC2025Ret 12.57 -0.15 -7.9 11.9 SmCpIdx 13.38 NA NA NA INSTTRF2020 22.66 -0.27 -6.0 14.0 SmValInst 22.29 -1.84 -32.0 -19.2 BroadMktBdInst 10.18 0.02 4.0 14.1
EmMktS n 37.76 -0.93 -19.3 0.9 CapApprA p 43.97 -0.79 -10.8 27.2 USSmCoIdx nr 9.63 -0.77 -31.6 -17.1 LC2030Ret 12.75 -0.18 -9.3 11.7 SocResp 21.58 -0.44 -11.0 25.3 INSTTRF2025 22.83 -0.33 -7.7 13.9 STBdIdxInstPl 10.84 0.01 3.3 10.2 Intl Inst 7.28 -0.14 -18.5 -5.3
EqInc n 23.67 -1.11 -25.8 -4.6 ConBalA p 11.27 -0.15 -7.4 8.7 Segall Bryant & Hami: LC2035Ret 13.04 -0.22 -10.7 11.4 StckIdx 37.85 -0.86 -10.8 25.2 INSTTRF2030 22.84 -0.37 -9.1 13.5 STBDInst 10.84 0.01 3.3 10.2 LgCpStrInst 21.78 -0.51 -10.6 25.7
EqIndex n 76.23 -1.72 -10.8 25.8 EqIncIA p 26.46 -1.16 -21.8 7.5 PlusBd n 11.02 0.02 3.1 14.8 LC2040Inst 9.41 -0.18 -11.8 11.9 StraBd 11.14 0.00 -3.0 7.6 INSTTRF2035 22.83 -0.42 -10.5 12.9 STCorpIxInst p 26.95 0.05 0.8 9.8 Wm Blair Funds Cl I:
Europe n 17.95 -0.57 -18.3 -3.9 FlIncA p 11.72 -0.11 -5.4 8.6 SEI Portfolios: LC2040Ret 13.23 -0.26 -12.0 11.0 ValUltra 17.64 NA NA NA INSTTRF2040 22.81 -0.46 -11.9 12.3 STIGradeInst 10.76 0.01 1.3 9.2 IntlGthI r 26.47 -0.50 -12.9 6.5
FinSvcs n 19.45 -1.32 -31.0 -7.5 HighYldA p 6.49 -0.04 -8.4 2.3 CoreFxIn F 11.82 0.02 3.7 15.2 LC2045Ret 11.15 -0.24 -13.1 10.3 Value Line Funds: INSTTRF2045 22.73 -0.51 -13.2 11.4 STIPSIxins 24.87 0.02 0.7 6.6 SmMidI r 24.85 -0.70 -7.9 34.3
GlbStk n 45.12 -0.06 -1.3 44.1 HiYld IN 8.32 -0.05 -10.1 -0.1 EMktDbt F 8.92 NA NA NA LCIdx2010Inst 15.49 -0.14 -3.2 15.1 AstAlcClInv n 37.65 -0.27 -2.1 33.6 INSTTRF2050 22.76 -0.51 -13.2 11.3 STTresIdx 26.08 0.00 2.9 8.2 Wm Blair Funds Inst:
GlbTech n 17.94 -0.01 9.7 53.2 InfPro IN 8.95 0.02 3.6 12.6 HiYld F 5.86 NA NA NA LCIdx2020Inst 16.99 -0.19 -5.1 15.7 Van Eck Funds: INSTTRF2055 22.85 -0.51 -13.2 11.4 TotBdInst 11.49 0.03 4.9 16.3 IntlGth 15.16 -0.28 -12.6 7.1
GMS-fd n 10.80 -0.01 -4.8 8.7 LgIndxI 17.53 -0.40 -10.8 25.9 IntlEmg F 10.01 NA NA NA LCIdx2025Inst 17.77 -0.24 -6.4 15.7 EmgMktsY 14.96 -0.04 -18.2 -0.2 INSTTRF2060 22.89 -0.51 -13.2 11.4 TotBdInst2 11.41 0.03 4.6 15.9 Wm Blair Funds R6:
GNMA n 9.47 -0.02 3.7 10.2 LgIndxJ tn 17.35 -0.39 -10.8 25.2 IntlEq F 9.08 NA NA NA LCIdx2035Inst 19.19 -0.34 -9.4 15.6 VANGUARD ADMIRAL: INSTTRFINC 22.01 -0.14 -2.3 13.5 TotBdInstPl 11.49 0.03 4.9 16.3 EmgMktGth 12.51 0.05 -10.3 10.3
Gr&In n 26.78 -0.49 -11.4 22.0 LT2020 In 12.72 -0.18 -6.5 12.8 IntlFxIn F 10.33 NA NA NA LCIdx2040Inst 19.57 -0.39 -10.9 15.2 400MCpIdxInst 212.91 -13.06 -23.0 -4.3 ITIGrade n 10.20 0.01 3.2 15.3 TotIntBdIdxInst 34.29 0.00 1.4 15.0 361 Global Long/Shor:
Growth n 72.77 -0.47 -0.8 45.8 LT2020J tn 12.64 -0.18 -6.6 12.2 IntMuni F 11.67 0.07 -1.5 8.3 LCIdx2045Inst 19.45 -0.44 -12.3 14.3 500Adml n 264.98 -5.97 -10.7 26.4 ITTsry n 12.12 0.01 7.5 15.6 TotIntlInstIdx r 95.20 -2.33 -20.1 -6.6 Equity Fund 10.33 -0.03 -8.1 0.9
M28 BARRON’S May 18, 2020

Weekly Closed-End Funds Data provided by

52 Week 52 Week
Stock Market Prem Market TRACKING CLOSED - END FUNDS Stock Market Prem Market
Fund Name (Symbol) Exch NAV Price /Disc Return Fund Name (Symbol) Exch NAV Price /Disc Return
Friday, May 15, 2020 United Corps Ltd (UNC)-cy ............... T 143.67 89.78 – 37.5 NA
General Equity Funds Reopening Gambit: With limited testing for Covid-19 available, states began to VirtusTotalRetFd (ZF) .....................
Wells Fargo Gl Div Oppty (EOD) .......
N
N
7.89
NA
7.97 + 1.0 – 5.9
4.00 NA – 16.9
Adams Diversified Equity (ADX)-a .... N 16.18 13.87 – 14.3 1.1
Boulder Growth & Income (BIF) ...... N 10.79 8.87 – 17.8 – 15.4 reopen. Investors sold down the Herzfeld Average and Dow, which fell a respective 12 mos
Central Secs (CET)-c ........................ A 33.37 27.21 – 18.5 – 3.8 Stock Market Prem Yield
CohenStrsCEOppFd (FOF)-a ............ N 10.30 9.66 – 6.2 – 16.4 3.4% and 1.1% for the week ended Thursday. Fund Name (Symbol) Exch NAV Price /Disc 4/30/20
Eagle Capital Growth (GRF)-c ........... A NA 6.70 NA – 4.6
EVTxAdvDivIncm (EVT) .................. N 18.89 17.67 – 6.5 – 18.6 51000 Net Asset Value U.S. Mortgage Bond Funds
Equus II (EQS) ................................
Foxby Corp. (FXBY) ........................
N
O
NA
2.46
1.05
NA
NA – 39.1
NA NA
55100 BlckRk Income (BKT)-a .................... N 6.33 6.03 – 4.7 6.8
First Trust Mtge Inc (FMY) .............. N 14.47 13.35 – 7.7 5.4
GabelliDiv&IncTr (GDV)-a ................ N 18.32 15.95 – 12.9 – 19.7 Invesco HI 2023 Tgt Term (IHIT)-a ... N 7.56 7.08 – 6.3 8.0
Gabelli Equity Tr (GAB)-h ................. N 4.20 4.21 + 0.2 – 22.2 45600 50700 Invesco HI 2024 Tgt Term (IHTA)-a .. N 6.58 6.30 – 4.3 8.9
GeneralAmer (GAM) ....................... N 35.28 29.06 – 17.6 – 10.6 Nuveen Mortgage and Inc (JLS)-a .... N 19.37 17.49 – 9.7 7.3
JHancockTaxAdvDiv (HTD) ............ N 19.39 17.65 – 9.0 – 24.1 46300

.
Nuveen Multi-Market Inc (JMM)-c ... N 7.14 6.27 – 12.2 5.4
Librty AllStr Eq (USA) ..................... N 5.55 5.14 – 7.4 – 10.4 *Herzfeld Vertical Capital Income (VCIF) ........ N NA 9.66 NA NS
Librty AllStr Gr (ASG)-j ..................... N 5.84 5.49 – 6.0 7.1 40200 41900 Western Asset Mtg Oppty (DMO) .... N NA 12.76 NA 14.0

ly
NuvTaxAdvTRStrat (JTA) ............... N 8.39 7.47 – 11.0 – 29.9 Closed-End
Investment Grade Bond Funds
Royce Micro-Cap Tr (RMT) ............. N 7.54 6.35 – 15.8 – 14.6 Average 37500 BlRck Core Bond (BHK)-a ................. N 15.24 14.46 – 5.1 5.3
Royce Value Trust (RVT) ................. N 12.74 10.92 – 14.3 – 13.8 BR Credit Alloc Inc (BTZ)-a ............... N 13.81 12.67 – 8.3 7.0
Source Capital (SOR) ...................... N 37.41 31.15 – 16.7 – 12.2 34800 3Q 4Q 1Q 2Q
BR Enhcd Govt (EGF)-a .................... N 13.57 13.35 – 1.6 3.7
Special Opportunities (SPE)-a .......... N NA 9.83 NA – 21.5
Sprott Focus Trust (FUND) .............. O 6.40 5.46 – 14.7 – 11.8 % Disc/Prem From Net Asset Value Insight Select Income (INSI) ...........
InvescoBond (VBF)-a .......................
N
N
20.46
19.74
18.70
18.51


8.6
6.2
4.4
4.2
-4

on
Tri-Continental (TY) ........................ N 26.55 22.78 – 14.2 – 7.9 J Han Income (JHS) ........................ N 14.91 13.70 – 8.1 4.7
Specialized Equity Funds 29400 MFS Govt Mkts (MGF)-a ................... N 4.83 4.68 – 3.1 7.3
Aberdeen Glb Prem Prop (AWP) ..... N 4.89 4.08 – 16.6 – 26.0 -7 MFS Intmdt (MIN)-a ........................ N 3.96 3.71 – 6.3 9.1
Adams Natural Resources (PEO) .... N 12.10 10.01 – 17.3 – 34.5 Western Asset Inf-Lk Inc (WIA) ....... N NA 11.05 NA 3.7
AllianzGI AI & Tech Opps (AIO) ....... N 20.08 17.70 – 11.9 NS -10 Western Asset Inf-Lk O&I (WIW) .... N NA 10.29 NA 4.2
GI DivInt&PremStr (NFJ) ................ N NA 10.40 NA – 7.9 24000 WA Investment Grade Inc (PAI) ....... N NA 13.81 NA 4.9
ASA Gold & Prec Met Ltd (ASA) ....... N 18.94 15.32 – 19.1 59.3 WesternAssetPremBd (WEA) ......... N NA 12.44 NA 6.4
BR Enh C&I (CII)-a ........................... N 15.08 13.56 – 10.1 – 7.8 -13 Westn Asst IG Def Opp Tr (IGI) ........ N NA 21.00 NA 4.7

us ,
BlackRock Energy & Res (BGR)-a .... N 7.54 6.80 – 9.8 – 37.1 Dow Industrials
Loan Participation Funds
BlackRock Eq Enh Div (BDJ)-a .......... N 7.61 6.78 – 10.9 – 13.5 18600 -16 Apollo Senior Floating (AFT)-a ......... N NA 11.73 NA 9.98

l
BlackRock Enh Glbl Div (BOE)-a ....... N 10.02 8.67 – 13.5 – 10.9 3Q 19 4Q 19 1Q 20 2Q 20 3Q 19 4Q 19 1Q 20 2Q 20 BR Debt Strategy (DSU)-a ................ N 10.36 8.91 – 14.0 9.1
BlackRock Enh Intl Div (BGY)-a ........ N 5.48 4.73 – 13.7 – 5.8

e
BR F/R Inc Str (FRA)-a ...................... N 12.47 10.52 – 15.6 8.3

al a
BlackRock Hlth Sci Tr II (BMEZ)-a .... N 21.26 19.92 – 6.3 NS The Herzfeld Closed-End Average measures 15 equally-weighted closed-end funds based in the U.S. that invest principally in BlackRock Floatng Rt Inc (BGT)-a .... N 12.10 10.22 – 15.5 8.1
BlackRock Hlth Sciences (BME)-a .... N 39.86 40.57 + 1.8 16.4 Blackstone / GSO Strat (BGB) .......... N 12.29 10.43 – 15.1 12.3
BlackRock Res & Comm (BCX)-a ..... N 6.65 5.43 – 18.3 – 22.8 American equities. The net assest value is a weighted average of the funds' NAVs. Source: Thomas J. Herzfeld Advisors Inc., Miami.
Blackstone/GSO LS Cr Inc (BGX) ..... N 12.68 10.76 – 15.1 12.9
BlackRock Sci&Tech Tr II (BSTZ)-a .. N 21.92 20.21 – 7.8 NS 305-271-1900/www.herzfeld.com Blackstone/GSO Sr Flt Rt (BSL) ....... N 13.63 12.12 – 11.1 10.8

ci on
BlackRock Sci&Tech Trust (BST)-a .. N 33.80 33.67 – 0.4 14.5 BNY Mellon Alct GCI 2024 (DCF)-a ... N 7.20 6.74 – 6.4 9.2
BlackRock Utl Inf & Pwr (BUI)-a ....... N 18.14 18.28 + 0.8 – 8.7 52 Week 52 Week Eagle Point Credit (ECC)-a ................ N NA 5.31 NA 35.6
CBRE ClrnGlbRlEst (IGR) ................ A 6.32 5.11 – 19.1 – 25.0 Eagle Point Income (EIC)-a .............. N NA 9.13 NA NS
CLEARBRIDGE ENGY MDS OPP (EMO) N NA 2.27 NA – 73.9 Stock Market Prem Market Stock Market Prem Market
Fund Name (Symbol) Exch NAV Price /Disc Return Fund Name (Symbol) Exch NAV Price /Disc Return Eaton Vance F-R 2022 TT (EFL) ....... N 8.22 7.77 – 5.5 7.0
CLEARBRIDGE MLP&MDSTM TR (CTR) N NA 2.59 NA – 70.5 EtnVncFltRteInc (EFT) .................... N 12.50 10.67 – 14.6 9.6
ClearBridge MLP & Midstm (CEM) .. N NA 3.25 NA – 71.5 NuvCorEqAlpha (JCE) ..................... N 12.68 11.61 – 8.4 – 8.6 Bancroft Fund Ltd (BCV) ................. A 24.60 21.38 – 13.1 6.9 EtnVncFltRteIncPlus (EFF) .............. N 14.39 12.86 – 10.7 7.6
Cntr Cst Brkfld MLP&EI (CEN) ......... N 1.20 1.23 + 2.5 – 81.1 NuveenDiversDiv&Inc (JDD) .......... N 8.32 7.11 – 14.5 – 28.7 CalamosConvHi (CHY)-a .................. N 10.50 9.75 – 7.1 – 2.5 EV SenFlRtTr (EFR) ......................... N 12.28 10.41 – 15.2 9.6
ChnStrInfr (UTF)-a ........................... N 20.97 19.36 – 7.7 – 15.6 Nuveen Nasdaq 100 Dyn Ov (QQQX) N 22.54 22.31 – 1.0 7.1 CalmosConvOp (CHI)-a ................... N 9.96 9.12 – 8.4 – 4.3 EVSnrIncm (EVF) ........................... N 5.82 5.01 – 13.9 8.5
COHEN & STEERS MLP INC&E (MIE)-a N 2.53 2.02 – 20.2 – 76.2 Nuv Real Est (JRS) .......................... A 7.85 6.63 – 15.5 – 30.2 Ellsworth G&I Fund Ltd (ECF) .......... A 11.17 9.96 – 10.8 10.0
Cohen&SteersQualInc (RQI)-a ......... N 10.13 8.66 – 14.5 – 28.9 FT/Sr Fltg Rte Inc 2 (FCT) ................ N 11.99 10.29 – 14.2 8.7
Nuveen Rl Asst Inc & Gro (JRI)-a ...... N 12.50 10.25 – 18.0 – 30.7 Gabelli Conv Sec (GCV) ................... N 5.00 4.75 – 5.0 3.1

er s
Cohen&Steers TotRet (RFI)-a .......... N 10.81 10.37 – 4.1 – 16.6 FT/Sr Fltg Rte 2022 TgTr (FIV) ......... N 8.59 7.89 – 8.1 4.3
NuvS&P500DynOvFd (SPXX) ......... N NA 12.22 NA – 15.9 HiIncBd (PCF)-a ............................... N NA 6.92 NA – 13.5 Highland Income (HFRO) ................ N 11.74 7.55 – 35.7 12.4
CohenStrsREITPrefInc (RNP)-a ....... N 18.97 16.07 – 15.3 – 17.1 NuvSP500BuyIncFd (BXMX) .......... N 12.04 10.62 – 11.8 – 12.3 World Equity Funds
Columbia Sel Prm Tech Gr (STK)-a ... N 18.38 20.07 + 9.2 5.5 InvDYCrOpp (VTA)-a ....................... N 9.77 8.07 – 17.4 10.1
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

PIMGlbStkPI (PGP) ........................ N NA 7.40 NA – 31.0 AbrdnAusEq (IAF) ........................... A 4.53 3.97 – 12.4 – 14.7 InvSnrIncTr (VVR)-a ........................ N 3.88 3.27 – 15.7 8.4
Cushing Energy Income (SRF) ........ N 4.93 3.86 – 21.7 – 45.4 ReavesUtilityIncome (UTG) ............ A 27.93 30.59 + 9.5 – 6.4 Aberdeen Emg Mkts Eq Inc (AEF) .... A 6.32 5.44 – 13.9 – 20.5 Nuveen Credit Strat Inc (JQC)-a ........ N 6.55 5.57 – 15.0 20.2
CushingMLPTotRet (SRV)-d ............
Cushing Renaissance (SZC)-a ..........
N
N
5.75
8.79
4.65
6.85
– 19.1 –
– 22.1 –
49.9
49.1
m er
RMRRealEstInc (RIF) .....................
Salient Midstream & MLP (SMM) ...
A
N
12.81
5.21
9.08
3.96
– 29.1 – 46.9
– 24.0 – 52.6
Aberdeen Glbl Dyn Div (AGD) ..........
Aberdeen Japan Equity (JEQ) ..........
N
N
9.31
8.33
7.97
6.76


14.4
18.8
– 6.7
0.3
NuvFloatRateIncFd (JFR)-a ..............
NuvFloatRteIncOppty (JRO)-a .........
N
N
8.71
8.65
7.35
7.41


15.6
14.3
9.6
9.7
DNP Select Income (DNP) .............. N 8.16 10.33 + 26.6 – 4.2 Tortoise Energy Ind (NDP) .............. N 14.90 11.09 – 25.6 – 82.4 Aberdeen Tot Dyn Div (AOD) ........... N 8.11 6.92 – 14.7 – 7.9
Duff&Ph Uti&Infra Inc Fd (DPG) ...... N 10.86 9.54 – 12.2 – 29.6 Nuveen Senior Income (NSL)-a ........ N 5.14 4.38 – 14.8 9.8
Tortoise Enrgy Infra Crp (TYG) ........ N 21.74 15.94 – 26.7 – 81.0 Calamos GloDynInc (CHW)-a ........... N 6.58 6.27 – 4.7 – 13.3 Nuveen Sht Dur Crdt Opp (JSD)-a .... N 12.90 10.91 – 15.4 10.3
Duff&Ph Sel MLP&MS Engy (DSE) . N 0.54 0.51 – 5.3 – 88.6 Tortoise Ess Asst Inc Tm (TEAF) ..... N 13.72 10.30 – 24.9 – 41.9 Cdn Genl Inv (CGI)-y ........................ T 33.87 23.11 – 31.8 – 6.5
EtnVncEqtyInc (EOI) ....................... N 14.12 13.17 – 6.7 – 3.9 PionrFltRate Tr (PHD) ..................... N 9.81 8.44 – 14.0 8.1
Tortoise Midstream Enrgy (NTG) .... N 22.28 17.16 – 23.0 – 86.5 Central and Eastern Euro (CEE) ....... N 22.51 19.15 – 14.9 – 18.2 THL Credit Senior Loan (TSLF) ........ N 13.99 11.62 – 16.9 10.1
EtnVncEqtyIncoII (EOS) ................. N 16.33 16.26 – 0.4 5.2 Tortoise Pipelne & Enrgy (TTP) ....... N 18.55 14.03 – 24.4 – 74.6
EVRskMnDvsEqInc (ETJ) ............... N 9.38 9.16 – 2.3 7.2 China (CHN) ................................... N 23.79 20.30 – 14.7 11.2 WA Corporate Loan (TLI) ................ N NA 7.82 NA 9.3
m rp
Tortoise Pwr & Engy Infr (TPZ) ....... N 11.21 8.77 – 21.8 – 47.8 Delaware Enh Gl Div & In (DEX) ....... N 8.93 7.59 – 15.0 – 12.4 High Yield Bond Funds
ETnVncTxMgdBuyWrtInc (ETB) ..... N 13.03 12.94 – 0.7 – 10.4 Wells Fargo Ut & Hi Inc (ERH)-a ....... A NA 11.84 NA – 0.4
EtnVncTxMgdBuyWrtOpp (ETV) ..... N 12.83 13.23 + 3.1 – 1.4 EV TxAdvGlbDivInc (ETG) ............... N 13.93 12.59 – 9.6 – 12.8 Aberdeen Inc Credit Str (ACP) ......... N 8.56 7.60 – 11.2 19.0
EvTxMnDvsEqInc (ETY) ................. N 10.94 10.13 – 7.4 – 6.2
Income & Preferred Stock Funds EtnVncTxAdvOpp (ETO) ................. N 19.44 19.08 – 1.9 – 12.2 AllianceBernGlHiIncm (AWF) .......... N 10.84 9.25 – 14.7 8.1
EtnVncTxMgdGlbB (ETW) .............. N 8.90 7.89 – 11.3 – 11.9 CalamosStratTot (CSQ)-a ................ N 11.32 10.94 – 3.4 – 4.4 Economic Inv Tr (N/A)-cy ................. T 138.85 96.00 – 30.9 NA Angel Oak FS Inc Trm (FINS)-a ......... N NA 15.98 NA NS
EVTxMnGblDvEqInc (EXG) ............. N 7.43 6.70 – 9.8 – 9.7 CohenStrsLtdDurPref&Inc (LDP)-a . N 22.14 21.42 – 3.3 – 3.6 European Equity Fund Inc (EEA)-a .... N 8.51 7.14 – 16.1 – 12.0 Barings Glb SD HY Bd (BGH) ........... N 12.59 10.80 – 14.2 15.5
First Trust Energy Inc G (FEN) ......... A 12.62 10.71 – 15.1 – 43.0 CohenStrsSelPref&Income (PSF)-a . N 22.79 23.00 + 0.9 – 9.3 FirstTrAbEmergOp (FEO) ................ N 12.67 10.49 – 17.2 – 13.4 BR Corporate HY (HYT)-a ................. N 10.09 9.11 – 9.7 9.6
First Tr Enhanced Eq (FFA) .............. N 14.36 13.23 – 7.9 – 5.6 Del Div & Inc (DDF) ......................... N 8.12 8.17 + 0.6 – 33.8 FirstTr Dyn Euro Eq Inc (FDEU) ....... N 10.57 9.17 – 13.2 – 26.8 BlackRock Ltd Dur Inc (BLW)-a ........ N 14.78 12.88 – 12.9 8.1
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

First Tr Specialty Fn (FGB) ............... N 2.52 3.09 + 22.6 – 46.4 Dividend and Income (DNI) ............. N 11.74 9.14 – 22.1 – 14.5 Gabelli Gl Sm&Mid Cp Val (GGZ) ..... N 9.72 7.79 – 19.9 – 28.2 BNY Mellon Hi Yield Str (DHF) ......... N 2.71 2.31 – 14.8 10.7
FirstTrEnergyInfra (FIF) .................. N 11.42 10.34 – 9.5 – 29.6 Eagle Gr and Inc Opps (EGIF) .......... N 12.84 11.12 – 13.4 – 22.1 Gabelli Multimedia (GGT)-h ............. N 5.60 6.08 + 8.6 – 14.9 Brookfield Real Asst Inc (RA)-a ........ N 17.80 15.56 – 12.6 14.3
FirstTrIntDurPref&Inc (FPF) ........... N 20.36 19.35 – 5.0 – 6.7 GDL Fund (GDL) ............................. N 10.34 8.11 – 21.6 – 9.3 CrSuisHighYld (DHY)-a ................... A 2.09 1.79 – 14.4 11.6
co o

FirstTrMLPEner&Inc (FEI) .............. N 6.78 5.71 – 15.8 – 45.9


Gab Gl Util & Inc (GLU)-ah ................ A 14.35 14.35 + 0.0 – 13.8 Gabelli Go Anywhere Tr (GGO) ........ N 9.36 8.25 – 11.9 – 44.9 Herzfeld Caribb (CUBA) .................. O 4.16 3.38 – 18.8 – 38.6 CSAM Income Fd (CIK)-a ................. A 2.84 2.45 – 13.7 10.8
Gabelli Healthcare (GRX)-h .............. N 11.60 9.76 – 15.9 – 1.9 JHanPrefInc (HPI) .......................... N 16.76 16.65 – 0.7 – 20.7 Highland Global Alloc (HGLB) ......... N 9.28 5.26 – 43.3 – 49.8 DoubleLine Inc Sol (DSL)-a .............. N NA 12.39 NA 14.0
Gab Utility (GUT)-ah ......................... N 3.66 6.70 + 83.1 11.2 JHPrefIncII (HPF) ........................... N 16.49 16.02 – 2.9 – 22.1 India Fund (IFN) .............................. N 16.31 13.87 – 15.0 – 23.5 DoubleLine Yld Opps (DLY)-a .......... N NA NA NA NS
GAMCOGlGold&NatRes (GGN)-a ..... A 3.80 3.37 – 11.3 – 9.7 HnckJPfdInco III (HPS) .................. N 14.74 14.22 – 3.5 – 18.3 J Han Hdgd Ety & Inc (HEQ) ............ N 11.67 10.67 – 8.6 – 16.3 EVHiInc2021 (EHT) ........................ N 9.48 9.12 – 3.8 4.7
J Han Prm (PDT) ............................. N 11.61 11.70 + 0.8 – 24.5
F

GAMCO NR GLD & INC TR (GNT)-a .. N 5.33 4.66 – 12.6 – 1.5 JHancockTaxAdv Gl Sh Yld (HTY) ... N 5.77 5.05 – 12.5 – 18.6 First Tr Hi Inc Lng/Shrt (FSD) .......... N 14.37 12.65 – 12.0 10.1
J Han Finl Opptys (BTO) .................. N 17.43 18.63 + 6.9 – 38.3 LMP CapInco (SCD) ........................ N NA 9.28 NA – 21.3 Japan Smaller Cap (JOF) ................. N NA 7.30 NA – 6.1 Franklin Univ (FT) ........................... N 7.28 6.24 – 14.3 5.9
Macquarie/FirstTr Gl (MFD) ............ N 8.97 7.63 – 14.9 – 21.1 Nuveen Pref & I 2022 Trm (JPT)-a .... N 21.17 21.38 + 1.0 – 1.3 Korea (KF) ...................................... N 27.86 23.01 – 17.4 – 15.8 InvHighIncTrII (VLT)-a .................... N 12.22 10.58 – 13.4 10.6
Madison CovCall & Eq Str (MCN) .... N 6.23 5.41 – 13.2 – 8.5 Nuveen Pref & Inc Opp (JPC)-a ........ N 8.03 7.50 – 6.6 – 15.5 LazardGlbTotRetInc (LGI)-a ............. N 15.03 12.85 – 14.5 – 7.8 IVY HIGH INCOME OPP (IVH)-a ....... N 11.90 10.18 – 14.5 11.9
Neuberger Brmn MLP & EI (NML)-a . N 3.40 2.72 – 20.0 – 61.6 Nuveen Fd (JPS)-a ........................... N 8.28 7.67 – 7.4 – 11.2 MexicoEqandIncmFd (MXE) ........... N 8.09 7.18 – 11.2 – 32.4 MFS IntmdHgInc (CIF)-a .................. N 2.21 1.98 – 10.6 11.7
NubrgrRlEstSec (NRO)-a ................. A 3.41 3.00 – 12.0 – 33.9 Nuveen Pref & Inc Term (JPI)-a ........ N 20.31 19.75 – 2.8 – 8.1 Mexico (MXF) ................................. N NA 8.82 NA – 30.7 NeubHgYldStrt (NHS)-a ................... N 10.31 9.78 – 5.1 11.1
Nuv Dow 30 Dyn Overwrite (DIAX) .. N 14.37 12.72 – 11.5 – 22.2 Nuveen TxAdvDivGr (JTD) .............. N 13.40 12.08 – 9.9 – 18.9 Miller/Howard High Inc E (HIE) ....... N 6.48 5.48 – 15.4 – 46.0 New Amer Hi Inc (HYB)-a ................. N 8.51 7.26 – 14.7 7.9
TCW Strat Income (TSI) .................. N NA 5.41 NA 4.1 MS ChinaShrFd (CAF)-J ................... N 22.45 18.40 – 18.0 – 9.3 NexPointStratOppty (NHF) ............. N 16.38 8.14 – 50.3 22.5
a-NAV and market price are ex dividend. b-NAV is fully diluted. c- Vivaldi Opportunities (VAM) ........... N 11.70 10.06 – 14.1 – 21.9 MS India (IIF) .................................. N 16.63 13.64 – 18.0 – 30.9 Nuveen Crdt Opps 2022 TT (JCO)-a .. N 7.26 7.29 + 0.4 7.1
NAV is as of Thursday’s close. d-NAV is as of Wednesday’s close. Convertible Sec's. Funds New Germany (GF)-a ....................... N 15.28 12.87 – 15.8 – 5.1 Nuveen Global High Inc (JGH)-a ....... N 13.99 11.87 – 15.2 10.1
e-NAV assumes rights offering is fully subscribed. f-Rights offering AdvntCnvrtbl&IncFd (AVK)-a ........... N 13.16 11.57 – 12.1 – 12.7 New Ireland (IRL) ........................... N 8.34 6.38 – 23.5 – 27.7 Nuveen Hi Inc 2020 Trgt (JHY)-a ...... N 9.28 9.07 – 2.3 3.3
AllianzGI Con & Inc 2024 (CBH) ...... N 8.49 7.83 – 7.8 – 8.7 RENN Fund (RCG) .......................... A NA 1.12 NA – 28.6 Nuveen Hi Inc 2023 Trgt (JHAA)-a .... N 8.73 9.65 + 10.5 6.7
in process. g-Rights offering announced. h-Lipper data has been ad- GI Conv & Inc (NCV) ....................... N 4.22 3.91 – 7.3 – 23.5 Royce Global Value Trust (RGT) ...... N 11.13 10.15 – 8.8 0.0 Nuveen HI Nov 2021 Tgt (JHB)-a ...... N 8.96 8.81 – 1.7 5.6
justed for rights offering. j-Rights offering has expired, but Lipper AGI Conv & Inc II (NCZ) ................... N 3.79 3.40 – 10.3 – 24.9 Swiss Helvetia (SWZ) ..................... N 8.72 7.26 – 16.7 0.0 PGIM Global High Yield (GHY)-a ...... N 13.67 11.46 – 16.2 10.5
data not yet adjusted. l-NAV as of previous day. o-Tender offer in AGI Dvs Inc & Conv (ACV) ............... N 22.58 20.59 – 8.8 – 5.7 Templeton Dragon (TDF) ................ N 21.53 18.21 – 15.4 6.5 PGIM High Yield Bond (ISD)-a .......... N 14.22 12.13 – 14.7 10.0
process. Source: Lipper AGI Eqty & Conv Inc (NIE) ............... N 23.55 20.54 – 12.8 2.5 Templeton Em Mkt (EMF) ............... N 13.88 11.98 – 13.7 – 9.5 PioneerHilncmTr (PHT) .................. N 7.66 6.72 – 12.3 10.8
n-

THREE YEAR TED SPREAD Market Sentiment LAST +0.40


Citigroup Panic/Euphoria Model
TED Spread = 3-mth LIBOR – 3-mth T-bill rate
1.5
1.4 Euphoria
0.6
no

1.3
1.2
0.3
1.1
1.0
0.9 0
0.8
0.7 -0.3
Friday's Close 0.26
0.6 Panic
0.5 -0.6
0.4
0.3 -0.9
0.2 A M J J A S O N D J F M A M
0.1 The panic/euphoria model is a gauge of investor sentiment. It identifies "Panic" and "Euphoria" levels which are statistically driven buy and
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 sell signals for the broader market. Historically, a reading below panic supports a better than 95% likelihood that stock prices will be
17 18 19 20 higher one year later, while euphoria levels generate a better than 80% probability of stock prices being lower one year later.
Source: Citigroup Investment Research - US Equity Strategy
May 18, 2020 BARRON’S M29

Weekly Closed-End Funds Data provided by

12 mos 12 mos 12 mos 52 Week


Stock Market Prem Yield Stock Market Prem Yield Stock Market Prem Yield Stock Market Prem Market
Fund Name (Symbol) Exch NAV Price /Disc 4/30/20 Fund Name (Symbol) Exch NAV Price /Disc 4/30/20 Fund Name (Symbol) Exch NAV Price /Disc 4/30/20 Fund Name (Symbol) Exch NAV Price /Disc Return
Wells Fargo Income Oppty (EAD)-a .. A NA 6.55 NA 10.4 EVMuniBd (EIM) ............................. A 13.63 12.29 – 9.8 4.4 Nuveen NJ Muni Value (NJV)-a ........ N 14.67 12.55 – 14.5 3.8 BMO LGM Front ME;I (N/A) ............. z 6.17 NA NA – 27.9
WstAstHIF II (HIX) .......................... N NA 5.33 NA 10.3 EVMuniIncm (EVN) ........................ N 13.19 11.76 – 10.8 4.9 NuvNJ Qual Muni Inc (NXJ)-a ........... A 15.48 12.85 – 17.0 4.9 CalamosGlbTotRet (CGO)-a ............. z 9.56 9.73 + 1.8 – 9.7
Western Asset Hi Inc Opp (HIO) ...... N NA 4.36 NA 8.3 EVNatMuniOpp (EOT) ..................... N 20.07 18.34 – 8.6 4.8 Nuveen NY AMT/Fr Qual MI (NRK)-a A 14.13 12.15 – 14.0 4.5 12 mos
Western Asset Hi Yld D O (HYI) ....... N NA 12.91 NA 8.5 FedPremMuInc (FMN) .................... N 14.43 13.17 – 8.7 4.8 Nuveen NY Val (NNY)-a .................... N 9.77 9.09 – 7.0 3.8 Stock Market Prem Yield
Other Domestic Taxable Bond Funds InvAdvMuIncTrII (VKI)-a ................. A 11.24 10.00 – 11.0 5.3 Nuveen NY Muni Value 2 (NYV)-a ..... N 15.42 13.20 – 14.4 3.2 Fund Name (Symbol) Exch NAV Price /Disc 4/30/20
Apollo Tactical Income (AIF)-a ......... N NA 11.26 NA 10.2 Invesco MuniOp (OIA)-a .................. N 6.94 6.61 – 4.8 5.8 Nuveen NY Qual Muni Inc (NAN)-a ... N 14.59 12.78 – 12.4 4.5
Ares Dynamic Crdt Alloc (ARDC) ..... N NA 10.88 NA 11.9 InvescoMuOppTr (VMO)-a .............. N 12.59 11.24 – 10.7 5.2 Nuveen NY Sel Tx-Free (NXN)-a ....... N 13.86 12.67 – 8.6 3.7 Loan Participation Funds
Barings Corporate Inv (MCI) ........... N NA 12.55 NA 8.7 InvescoMuTr (VKQ)-a ...................... N 12.57 11.19 – 11.0 5.3 Nuveen OH Qual Muni Inc (NUO)-a ... N 17.07 14.44 – 15.4 3.6 1WS Credit Income (N/A) ................ z NA NA NA 7.0
Barings Part Inv (MPV) ................... N NA 11.44 NA 9.5 InvescoQual Inc (IQI)-a .................... N 12.84 11.56 – 10.0 5.2 Nuveen PA Muni Value (NPN)-a ........ N 14.81 13.34 – 9.9 3.5 AlphCntrc Prime Merid In (N/A) ....... z 9.95 NA NA NS
BlackRock Mlt-Sctr Inc (BIT)-a ......... N 14.89 12.94 – 13.1 10.7 InvTrInvGrMu (VGM)-a .................... N 13.00 11.60 – 10.8 5.3 Nuveen PA Qual Muni Inc (NQP)-a .... N 15.26 13.09 – 14.2 4.7 Angel Oak Str Crdt:Inst (N/A) .......... z NA NA NA 8.2
BlackRock Tax Muni Bd (BBN)-a ...... N 23.19 22.87 – 1.4 5.9 InvescoValMunInc (IIM)-a ............... N 15.56 13.83 – 11.1 5.1 Nuveen VA Qlty Mun Inc (NPV)-a ...... N 14.29 12.82 – 10.3 4.1 Axonic Alternative Inc (N/A) ............ z NA NA NA 5.4
DoubleLine:Oppor Crdt Fd (DBL)-a .. N NA 17.76 NA 7.6 MAINSTAY:MK DEFTR MUN OP (MMD)-a N NA 19.80 NA 5.3 PIMCO CA (PCQ) ............................ N 13.23 15.14 + 14.4 5.6 Blackstone/GSO FR EI D (N/A) ......... z 20.53 NA NA 7.4
Duff&Ph Util Cor (DUC)-a ................. N 9.40 9.02 – 4.0 5.2 MFS HgIncMuniTr (CXE)-a .............. N 4.76 4.33 – 9.1 5.7 PIMCOCAMuniII (PCK) ................... N 8.34 8.06 – 3.4 4.8 Blackstone/GSO FR EI I (N/A) .......... z 20.50 NA NA 7.7
EVLmtDurIncm (EVV) ..................... A 12.20 10.49 – 14.0 9.6 MFS HgYldMuniTr (CMU)-a ............. N 4.29 3.88 – 9.6 5.7 Pimco CA Muni III (PZC) ................. N 9.53 9.41 – 1.3 5.1 Blackstone/GSO FR EI T (N/A) ......... z 20.46 NA NA 7.1

.
Franklin Ltd Dur Income (FTF) ......... A 8.76 7.84 – 10.5 12.5 NeubrgrBrm (NBH) ......................... A 14.03 13.32 – 5.1 5.5 PIMCO NY (PNF) ............................ N 11.10 10.60 – 4.5 5.6 Blackstone/GSO FR EI T-I (N/A) ....... z 20.90 NA NA 7.1
J Han Investors (JHI) ...................... N 15.25 13.58 – 11.0 9.0 Nuveen AMT-Fr Mu Val (NUW)-a ...... N 16.08 14.96 – 7.0 3.8 PIMCONYMuniII (PNI) ................... N 10.51 10.04 – 4.5 5.1 Blackstone/GSO FR EI U (N/A) ......... z 21.36 NA NA NS
Nuveen AMT-Fr Qlty Mun I (NEA)-a .. A 14.76 13.28 – 10.0 4.9

ly
KKR Income Opportunities (KIO)-a .. N NA 10.47 NA 13.6 Pimco NY Muni III (PYN) ................. N 8.51 8.64 + 1.5 5.1 Blstn Commnty Dev (N/A) ............... z 9.80 NA NA 3.6
MFS Charter (MCR)-a ...................... N 8.26 7.78 – 5.8 9.0 Nuveen AMT-Fr Mu CI (NVG)-a ........ A 15.73 14.24 – 9.5 5.6 Continuously Offered BNYM Alcntr Glb MS Cr Fd (N/A) ..... z 79.19 NA NA NS
Nuveen Taxable Muni Inc (NBB)-a .... N 19.98 19.62 – 1.8 5.7 Nuveen Enh Muni Val (NEV)-a .......... N 14.21 13.31 – 6.3 5.2 52 Week CLIFFWATER CL FD;I (N/A)-a ........... z 9.93 NA NA 1.5
PCM Fund (PCM) ............................ N NA 8.50 NA 10.4 Nuveen Int Dur Mun Term (NID)-a .... N 13.37 12.47 – 6.7 4.1 Stock Market Prem Market CNR Strategic Credit (N/A) .............. z 8.03 NA NA 10.6
PIMCO Corp & Inc Oppty (PTY) ....... N NA 13.61 NA 11.2 Nuveen Int Dur Qlty Mun (NIQ)-a ...... N 14.08 13.15 – 6.6 2.9 Fund Name (Symbol) Exch NAV Price /Disc Return FedProj&TrFinanceTendr (N/A) ...... z 9.76 NA NA 3.9
PIMCO Corp & Inc Strat (PCN) ........ N 11.59 14.41 + 24.3 9.4 Nuveen Mu Crdt Opps (NMCO)-a ...... N 11.53 10.76 – 6.7 NS FS Global Crdt Opptys D (N/A) ......... z NA NA NA 8.3
PIMCOHilnco (PHK) ....................... N NA 4.99 NA 14.6 NuvMuni2021TgtTerm (NHA)-a ....... N 9.90 9.66 – 2.4 1.8 Specialized Equity Funds
Garrison Capital Inc (GARS) ............ z NA 2.40 NA NA

on
PIMCO IncmStrFd (PFL) ................. N 8.54 8.54 + 0.0 11.9 Nuv Muni Credit Income (NZF)-a ...... A 15.01 13.48 – 10.2 5.8 Bluerock Total Inc+ RE:A (N/A) ........ z 30.05 NA NA 4.8 Schrdrs Opp Inc;A (N/A) ................. z 23.49 NA NA NS
PIMCO IncmStrFd II (PFN) .............. N 7.73 7.75 + 0.3 11.8 NuvMuniHiIncOpp (NMZ)-a ............. A 12.28 12.16 – 1.0 5.9 Bluerock Total Inc+ RE:C (N/A) ........ z 28.72 NA NA 4.0 Schrdrs Opp Inc;A2 (N/A) ............... z 23.48 NA NA NS
Putnam Mas Int (PIM) .................... N 4.16 4.09 – 1.7 8.5 Nuveen Muni Inc (NMI)-a ................. N 10.68 10.19 – 4.6 4.1 Bluerock Total Inc+ RE:I (N/A) ......... z 30.58 NA NA 5.0 Schrdrs Opp Inc;I (N/A) .................. z 23.52 NA NA NS
Putnam Prem Inc (PPT) .................. N 4.61 4.58 – 0.7 9.0 Nuveen Muni Val (NUV)-a ................ N 10.14 9.51 – 6.2 3.8 Bluerock Total Inc+ RE:L (N/A) ........ z 29.83 NA NA 4.5 Schrdrs Opp Inc;SDR (N/A) ............ z 23.54 NA NA NS
Wells Fargo Multi-Sector (ERC)-a .... A NA 9.79 NA 11.9 Nuveen Quality Muni Inc (NAD)-a ..... N 14.97 13.30 – 11.2 4.9 Broadstone Rl Est Acc:I (N/A) .......... z NA NA NA NA Invesco Sr Loan A (N/A) .................. z 5.56 NA NA 5.6
World Income Funds Nuveen Sel Mat (NIM)-a ................... N 10.48 9.48 – 9.5 3.2 Broadstone Rl Est Acc:W (N/A) ....... z NA NA NA NA Invesco Sr Loan C (N/A) .................. z 5.58 NA NA 4.7
Nuveen Sel TF (NXP)-a ..................... N 15.71 14.79 – 5.9 3.7 CC Real Estate Income;A (N/A) ........ z 7.18 NA NA – 19.6 Invesco Sr Loan IB (N/A) ................. z 5.56 NA NA 5.9
Abrdn AP IncFd (FAX) ..................... N 4.30 3.46 – 19.5 6.8 Nuveen Sel TF 2 (NXQ)-a .................. N 14.85 14.12 – 4.9 3.6 CC Real Estate Income;Ad (N/A) ...... z 6.81 NA NA – 24.7

us ,
Aberdeen Global Income (FCO) ....... N 6.19 5.52 – 10.8 10.6 Invesco Sr Loan IC (N/A) ................. z 5.56 NA NA 5.7
Nuveen Sel TF 3 (NXR)-a .................. N 16.15 15.16 – 6.1 3.5 CC Real Estate Income;C (N/A) ........ z 6.92 NA NA – 23.7 Invesco Sr Loan Y (N/A) .................. z 5.57 NA NA 5.9
BlackRock 2022 Gl Inc Op (BGIO)-a .. N 8.01 7.72 – 3.6 7.8 PIMCO MuniInc (PMF) .................... N 12.08 12.25 + 1.4 5.6
BrndywnGLB Glb Inc Oppts (BWG) . N NA 11.03 NA 7.0 CC Real Estate Income;I (N/A) ......... z 7.18 NA NA – 19.6 Pioneer Sec Inc (N/A) ...................... z 6.86 NA NA NS

l
PIMCOMuniIncII (PML) .................. N 11.40 12.05 + 5.7 6.2 CC Real Estate Income;T (N/A) ........ z 6.95 NA NA – 20.9
EtnVncStDivInc (EVG) .................... N 12.44 10.67 – 14.2 7.9 Pimco Muni III (PMX) ..................... N 10.39 10.55 + 1.5 5.5 High Yield Bond Funds
CIM RA&C A (N/A) .......................... z 24.99 NA NA NS

e
First Tr/Ab Glbl Inc (FAM) ................ N 10.39 9.14 – 12.0 9.8 Griffin Inst Access Cd:A (N/A) ......... z NA NA NA 7.7

al a
PioneerHilncAdv (MAV) .................. N 11.80 10.30 – 12.7 4.5 CIM RA&C C (N/A) .......................... z 24.99 NA NA NS
MS EmMktDomDebt (EDD) ............ N 6.48 5.21 – 19.6 10.1 PioneerMunHiIcmT (MHI) .............. N 12.67 11.03 – 12.9 5.2 Griffin Inst Access Cd:C (N/A) ......... z NA NA NA 7.7
Ms EmMktDebtFd (MSD) ................ N 9.33 7.99 – 14.4 6.6 CIM RA&C I (N/A) ........................... z 24.99 NA NA NS Griffin Inst Access Cd:F (N/A) .......... z NA NA NA 7.6
Putnam Mgd Inc (PMM) ................. N 7.37 6.85 – 7.1 5.7 CIM RA&C L (N/A) .......................... z 24.99 NA NA NS
Nuveen EM Dbt 2022 Tg Tr (JEMD)-a N 6.80 6.23 – 8.4 7.3 Putnam Muni Opp (PMO) ................ N 12.79 12.09 – 5.5 5.4 Griffin Inst Access Cd:I (N/A) .......... z NA NA NA 7.7
PIMCO Dyn Crd & Mrt Inc (PCI) ....... N NA 16.91 NA 14.4 Clarion Partners REI D (N/A) ........... z NA NA NA NS Griffin Inst Access Cd:L (N/A) .......... z NA NA NA 7.7
RiverNorth Flex Muni Inc (RFM)-a .... N 20.34 NA NA NS

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PIMCO Dynamic Income (PDI) ........ N NA 22.02 NA 13.1 Clarion Partners REI I (N/A) ............. z NA NA NA NS PIMCO Flexible Cr I;A-2 (N/A) .......... z 7.73 NA NA NS
RiverNorth Mgd Dur Mun I (RMM)-a N 17.01 16.66 – 2.1 NS Clarion Partners REI S (N/A) ........... z NA NA NA NS
PIMCO Income Opportunity (PKO) .. N NA 19.82 NA 10.8 RiverNorth Opps Muni Inc (RMI)-a ... N 21.23 20.51 – 3.4 3.7 PIMCO Flexible Cr I;A-4 (N/A) .......... z 7.73 NA NA 11.7
PIMCO Stratg Inc (RCS) .................. N NA 6.37 NA 11.2 Clarion Partners REI T (N/A) ............ z NA NA NA NS PIMCO Flexible Cr I;Inst (N/A) ......... z 7.73 NA NA 12.6
Western Asset Mgd Muni (MMU) .... N NA 11.44 NA 5.3 Griffin Inst Access RE:A (N/A) ......... z NA NA NA NA
StoneHarbor EM Tot Inc (EDI)-a ....... N 6.47 6.38 – 1.4 14.6 Western Asset Mun Hi Inc (MHF) .... N NA 6.89 NA 4.4 PionrILSBridge (N/A) ..................... z NA NA NA 0.0
StoneHarbor Emg Mkts Inc (EDF)-a .. N 5.68 5.90 + 3.9 19.7 Griffin Inst Access RE:C (N/A) ......... z NA NA NA NA WA Middle Mkt Dbt (N/A) ................ z NA NA NA 9.9
WstAstMuniPrtnrs (MNP) .............. N NA 13.42 NA 4.6 Griffin Inst Access RE:I (N/A) .......... z NA NA NA NA
Templeton Em Inc (TEI)-a ................ N 8.77 7.30 – 16.8 9.7 Westn Asst Mu Def Opp Tr (MTT) .... N NA 18.88 NA 4.3 WA Middle Mkt Inc (N/A) ................. z NA NA NA 11.3
Templtn Glbl Inc (GIM)-a ................. N 6.32 5.25 – 16.9 6.6 NexPointHCOpp;A (N/A) ................. z NA NA NA NA Other Domestic Taxable Bond Funds
Single State Muni Bond NexPointHCOpp;C (N/A) ................. z NA NA NA NA
Virtus Gl MSec Inc (VGI) ................. N 11.21 9.55 – 14.8 13.8 BlackRock CA Mun (BFZ)-a .............. N 14.70 12.34 – 16.1 3.9 Am Beacon Apollo TR:T (N/A) ......... z 9.60 NA NA NS
WstAstEmergDebt (EMD) ............... N NA 11.05 NA 11.0 NexPointHCOpp;Z (N/A) ................. z NA NA NA NA
BlckRk FL Muni 20 (BFO)-a .............. N 14.79 14.59 – 1.4 1.1 Am Beacon Apollo TR:Y (N/A) ......... z 9.61 NA NA 3.4
NexPointRlEstStrat;A (N/A) ............ z 13.69 NA NA – 27.3

er s
Western Asset Gl Cr D Op (GDO) ..... N NA 15.30 NA 7.9 BlackRock MA Tax-Exempt (MHE)-a N 13.14 12.10 – 7.9 3.9 Am Beacon SP Enh Inc:T (N/A) ........ z 8.69 NA NA NS
WstAstVarRte (GFY) ....................... N NA 14.23 NA 6.2 NexPointRlEstStrat;C (N/A) ............ z 13.82 NA NA – 27.6 Am Beacon SP Enh Inc:Y (N/A) ........ z 8.70 NA NA 5.7
BlackRock MD Mun Bd (BZM)-a ....... N 14.40 13.29 – 7.7 3.4 NexPointRlEstStrat;Z (N/A) ............ z 13.82 NA NA – 26.9
National Muni Bond Funds BR MH CA Qly Fd Inc (MUC)-a .......... N 14.99 12.90 – 13.9 4.2 BR Credit Strat;A (N/A) ................... z 9.17 NA NA NS
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AllBerNatlMunInc (AFB) ................. N 14.18 12.58 – 11.3 4.3 PREDEX;I (N/A) .............................. z 25.97 NA NA 2.9 BR Credit Strat;Inst (N/A) ................ z 9.17 NA NA 5.4
BR MH NJ Qly (MUJ)-a ..................... N 14.66 12.34 – 15.8 5.1 PREDEX;T (N/A) ............................. z 26.04 NA NA 2.9
BlckRk Inv Q Mun (BKN)-a ............... N 15.39 14.61 – 5.1 4.6 BlackRock Mlt-Sctr Oppty (N/A) ...... z 75.00 NA NA 10.1
BlckRk L-T Muni Adv (BTA)-a ........... N
BR Mu InDur (MUI)-a ....................... N
11.53
14.92
10.89
12.92


5.6
13.4
5.5
4.0
m er
BR MH NY Qly (MHN)-a ....................
BlkRkMunyldAZ (MZA)-a .................
N
N
14.30
13.90
12.39
13.42


13.4
3.5
4.3
4.2
PREDEX;W (N/A) ............................
Principal Dvs Sel RA A (N/A) ...........
z
z
26.04
19.81
NA
NA
NA
NA
2.9
NS
BlackRock Mlt-Sec Opp II (N/A) ......
Carlyle Tact Pvt Cred:A (N/A) ...........
z
z
75.57
NA
NA
NA
NA
NA
8.4
9.3
BR MuniYld CA (MYC)-a .................. N 15.07 13.07 – 13.3 4.0 Principal Dvs Sel RA Ins (N/A) ......... z 19.83 NA NA NS
BR MuniNY IntDu (MNE)-a ............... N 14.59 14.38 – 1.4 3.1 BR MuniYld CA Qly (MCA)-a ............. N 15.02 13.00 – 13.4 4.3 Carlyle Tact Pvt Cred:I (N/A) ............ z NA NA NA 10.1
BlackRock Muni 2020 (BKK)-a ......... N 15.07 14.84 – 1.5 1.8 Principal Dvs Sel RA Y (N/A) ........... z 19.86 NA NA NS Carlyle Tact Pvt Cred:L (N/A) ........... z NA NA NA 9.7
BR MuniYld MI Qly (MIY)-a .............. N 15.06 12.98 – 13.8 4.6 Resource RE Div Inc:A (N/A) ........... z 9.51 NA NA – 5.6
BlackRock Muni 2030 Tgt (BTT)-a .... N 24.53 22.50 – 8.3 3.3 BR MuniYld NJ (MYJ)-a ................... N 14.70 12.83 – 12.7 5.6 Carlyle Tact Pvt Cred:M (N/A) .......... z 7.74 NA NA NS
BlackRock Mun Bd (BBK)-a .............. N 15.49 14.10 – 9.0 4.7 Resource RE Div Inc:C (N/A) ........... z 9.50 NA NA – 6.1 Carlyle Tact Pvt Cred:N (N/A) .......... z NA NA NA 10.1
BR MuniYld NY Qly (MYN)-a ............ N 13.74 11.92 – 13.2 4.3 Resource RE Div Inc:I (N/A) ............ z 9.91 NA NA – 5.5
BlackRock Muni (BFK)-a .................. N 13.27 12.19 – 8.1 5.3 BR MuniYld PA Qly (MPA)-a ............. N 15.17 12.99 – 14.4 4.3 Carlyle Tact Pvt Cred:Y (N/A) ........... z NA NA NA 9.8
m rp
BlackRock Muni II (BLE)-a ............... N 13.80 13.18 – 4.5 5.3 Resource RE Div Inc:L (N/A) ........... z 9.51 NA NA – 5.8 CION Ares Dvsfd Crdt;A (N/A) ......... z NA NA NA 6.3
BlckRk NY Muni Inc Qly (BSE)-a ....... N 14.33 12.38 – 13.6 4.0 Resource RE Div Inc:W (N/A) .......... z 9.65 NA NA – 5.7
BlckRk Mun Inc Inv (BBF)-a .............. N 12.99 11.55 – 11.1 5.5 BlackRock NY Mun Bd (BQH)-a ........ N 15.43 15.06 – 2.4 4.0 CION Ares Dvsfd Crdt;C (N/A) ......... z NA NA NA 6.3
BlckRk Muni Inc Qly (BYM)-a ........... N 14.66 12.99 – 11.4 4.4 SharesPost 100;A (N/A) .................. z 30.21 NA NA 3.4 CION Ares Dvsfd Crdt;I (N/A) .......... z NA NA NA 6.3
BlackRock NY Mun (BNY)-a ............. N 14.24 12.80 – 10.1 4.3 SharesPost 100:I (N/A) ................... z 30.39 NA NA 3.7
BlckRk Muni Inc Inv Qly (BAF)-a ....... N 14.42 13.06 – 9.4 4.7 BlackRock NY Mun II (BFY)-a ........... N 14.68 12.59 – 14.2 4.7 CION Ares Dvsfd Crdt;L (N/A) .......... z NA NA NA 6.3
BR MuniAssets Fd (MUA)-a ............. N 13.04 12.87 – 1.3 5.0 SharesPost 100:L (N/A) .................. z 30.04 NA NA 3.2 CION Ares Dvsfd Crdt;U (N/A) ......... z NA NA NA NS
BlackRock VA Mun (BHV)-a ............. N 14.60 15.50 + 6.2 3.7 USQ Core Real Estate:I (N/A) ........... z 25.45 NA NA 2.5
BR MuniEnhanced (MEN)-a ............. N 11.41 10.22 – 10.4 4.7 Del CO Muni Inc (VCF) ..................... A 14.23 13.50 – 5.1 4.1 CION Ares Dvsfd Crdt:U2 (N/A) ....... z NA NA NA NS
BR MuniHoldng2 (MUH)-a ............... N 14.59 13.39 – 8.2 5.1 USQ Core Real Estate:IS (N/A) ........ z 25.46 NA NA 2.6 CION Ares Dvsfd Crdt;W (N/A) ........ z NA NA NA 6.3
Del MN II (VMM) ............................. A 14.13 12.11 – 14.3 3.6
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

BR MuniHoldings Qly (MFL)-a ......... N 13.78 12.38 – 10.2 4.5 Versus Cap MMgr RE Inc:I (N/A) ..... z 26.37 NA NA NE CNR Select Strategies (N/A) ............ z 10.87 NA NA 0.0
EVCAMuniBd (EVM) ....................... A 12.38 10.61 – 14.3 4.3 Versus Capital Real Asst (N/A) ........ z 24.05 NA NA – 0.6
BR MH Qly (MUS)-a ......................... N 13.02 11.55 – 11.3 4.6 EVCAMuniIncm (CEV) .................... A 13.99 12.58 – 10.1 4.3 GL Beyond Income (N/A)-a .............. z 0.95 NA NA NE
BR MH Qly 2 (MUE)-a ....................... N 13.17 11.63 – 11.7 4.6 Wildermuth Endwmnt:A (N/A) ........ z 13.45 NA NA 2.6 KKR CREDIT OPPTY;I (N/A) ............ z NA NA NA NS
Eaton Vance NY Muni Bd (ENX) ....... A 12.92 11.22 – 13.2 4.4
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BR MuniHoldngs (MHD)-a ............... N 15.55 14.09 – 9.4 5.4 Wildermuth Endwmnt:C (N/A) ........ z 13.03 NA NA 1.9 Lord Abbett Cred Opps Fd (N/A) ...... z 8.26 NA NA NS
EVNYMuniIncm (EVY) .................... A 14.22 NA NA 4.3 Wildermuth Endowment:I (N/A) ...... z 13.59 NA NA 3.0
BR MuniVest Fd (MVF)-a .................. N 8.90 7.95 – 10.7 5.3 InvCaValMuIncTr (VCV)-a ................ N 12.90 11.20 – 13.2 4.8 Lord Abbett Cred Opps Fd (N/A) ...... z 8.26 NA NA 9.2
BR MuniVest 2 (MVT)-a ................... N 13.97 12.65 – 9.4 5.3 InvPAValMuIncTr (VPV)-a ............... N 13.21 11.39 – 13.8 5.2 Income & Preferred Stock Funds Palmer Square Opp Inc (N/A) .......... z NA NA NA 7.5
BR MuniYield Fd (MYD)-a ................ N 13.69 12.40 – 9.4 5.5 InvTrInvGrNYMu (VTN)-a ................ N 13.47 11.54 – 14.3 5.1 A3 Alternative Cr (N/A) .................... z 10.39 NA NA NS Resource Credit Inc:A (N/A) ............ z 8.89 NA NA 4.6
Calamos L/S Eqty and DI (CPZ)-a ..... z 16.25 13.77 – 15.3 NS Resource Credit Inc:C (N/A) ............ z 8.99 NA NA 4.1
F

BR MuniYld Invest Qly (MFT)-a ........ N 13.27 11.88 – 10.5 5.2 NeubrgrBrmCA (NBW) ................... A 14.45 12.45 – 13.8 4.4
BR MuniYield Qlty (MQY)-a .............. N 15.23 14.35 – 5.8 4.6 NeubrgeBrmNY (NBO) ................... A 13.06 11.02 – 15.6 4.3 Destra Multi-Altrntv;A (N/A) ............ z 11.68 NA NA – 8.1 Resource Credit Inc:I (N/A) ............. z 8.91 NA NA 4.8
BR MuniYld Qlty2 (MQT)-a ............... N 13.39 11.96 – 10.7 4.4 Nuveen AZ Qual Muni Inc (NAZ)-a .... N 14.44 12.45 – 13.8 4.2 Destra Multi-Altrntv;C (N/A) ............ z 11.22 NA NA – 8.7 Resource Credit Inc:L (N/A) ............ z 8.89 NA NA 4.5
BR MuniYld Qly 3 (MYI)-a ................ N 13.79 12.17 – 11.7 4.5 Nuveen CA AMT-F Qual MI (NKX)-a .. A 15.98 14.13 – 11.6 4.4 Destra Multi-Altrntv;I (N/A) ............. z 11.90 NA NA – 7.8 Resource Credit Inc:W (N/A) ........... z 8.89 NA NA 4.6
BR MuniYldInv (MYF)-a ................... N 13.52 12.45 – 7.9 5.6 Nuveen CA Val (NCA)-a .................... N 10.49 9.84 – 6.2 3.5 Destra Multi-Altrntv;T (N/A) ............ z 11.37 NA NA – 8.5 Thrivent Church Ln&Inc:S (N/A) ..... z NA NA NA 3.1
BlckRk Str Muni (BSD)-a .................. N 13.27 12.18 – 8.2 5.4 Nuveen CA Muni Value 2 (NCB)-a ..... N 15.94 14.17 – 11.1 3.6 Flat Rock Opportunity (N/A)-a .......... z 15.05 NA NA – 15.5 World Income Funds
BNY Mellon Muni Bd Infra (DMB) .... N 13.17 12.42 – 5.7 5.2 NuveenCAQtyMuInc (NAC)-a ........... N 15.44 13.60 – 11.9 4.7 The Relative Value:CIA (N/A) ........... z NA NA NA NA Destra Int&Evt-Dvn Crd:A (N/A) ...... z 21.59 NA NA 6.2
BNY Mellon Muni Income (DMF)-a ... A 8.49 8.35 – 1.6 5.2 Nuveen CA Sel Tx-Free (NXC)-a ........ N 15.48 15.23 – 1.6 3.6 Variant Altrntv Inc:Inst (N/A) ........... z 26.39 NA NA 8.5 Destra Int&Evt-Dvn Crd:I (N/A) ....... z 21.60 NA NA 6.5
BNY Mellon Str Muni Bond (DSM)-a . N 7.55 6.89 – 8.7 5.7 NuvGA Qual Muni Inc (NKG)-a .......... A 13.76 11.60 – 15.7 3.8 Variant Altrntv Inc:Inv (N/A) ............ z 26.40 NA NA 8.3 Destra Int&Evt-Dvn Crd:L (N/A) ...... z 21.59 NA NA 5.9
BNY Mellon Strat Muni (LEO)-a ........ N 7.74 7.20 – 7.0 5.8 Nuveen MA Qual Muni Inc (NMT)-a .. N 14.38 12.73 – 11.5 3.7 Convertible Sec's. Funds Destra Int&Evt-Dvn Crd:T (N/A) ...... z 21.58 NA NA 5.6
Del Inv Natl Muni Income (VFL) ....... A 13.39 11.62 – 13.2 4.7 Nuveen MD Qual Muni Inc (NMY)-a .. N 14.11 12.08 – 14.4 4.4 Calmos Dyn Conv and Inc (CCD)-a ... z 19.29 18.01 – 6.6 8.3 National Muni Bond Funds
DTF Tax-Free Income (DTF)-a .......... N 15.35 13.61 – 11.3 3.3 Nuveen MI Qual Muni Inc (NUM)-a ... N 15.62 13.12 – 16.0 4.1 World Equity Funds PIMCO Flex Mun Inc;A-3 (N/A) ........ z NA NA NA NS
DWS Muni Inc (KTF)-a ..................... N 11.85 10.35 – 12.7 4.7 Nuveen Minn Qual Mun Inc (NMS)-a A 14.49 13.63 – 5.9 4.3 ACAP Strategic:A (N/A) ................... z 22.19 NA NA 30.7 PIMCO Flex Mun Inc;Inst (N/A) ....... z NA NA NA 3.2
DWS Strat Mun (KSM)-a .................. N 11.43 9.82 – 14.1 5.3 Nuveen MO Qual Mun Inc (NOM)-a .. A 13.48 14.60 + 8.3 3.5 ACAP Strategic:W (N/A) .................. z 16.51 NA NA 31.6 Tortoise Tax-Adv Soc Inf (N/A) ........ z 9.37 NA NA 5.2

TOP SAVINGS DEPOSIT YIELDS


n-

Money Market Account1 One-Year CDs Five-Year CDs


Telephone Min. Recent Effect. Telephone Min. Recent Effect. Telephone Min. Recent Effect.
Institution Location No. Deposit % Rate % Yield Institution Location No. Deposit % Rate % Yield Institution Location No. Deposit % Rate % Yield
Dollar Savings Direct Ossining,NY (866)395-8693 1 1.49 (CD) 1.50 Ally Bank Philadelphia,PA (877)247-2559 1 1.34 (CD) 1.35 Travis CU Concord,CA (800)435-4040 500 1.98 (CM) 2.00
CIT Bank Livingstn,NJ (855)462-2652 1 1.39 (CD) 1.40 CIT Bank Livingstn,NJ (855)462-2652 1000 1.34 (CD) 1.35 First Internet Bank Indianapolis,IN (888)873-3424 1000 1.65 (CM) 1.66
no

American Express Salt Lake City,UT (800)446-6307 1 1.29 (CD) 1.30 Discover Bank Greenwood,DE (800)347-7000 2500 1.34 (CD) 1.35 TIAA Bank Jackson,FL (888)882-3837 5000 1.59 (CD) 1.60
Axos Bank San Diego,CA (877)541-2634 25000 1.29 (CD) 1.30 TIAA Bank Jackson,FL (888)882-3837 5000 1.34 (CD) 1.35 Ally Bank Philadelphia,PA (877)247-2559 1 1.49 (CD) 1.50
First Internet Bank Indianapolis,IN (888)873-3424 100 1.25 (CM) 1.26 First Internet Bank Indianapolis,IN (888)873-3424 1000 1.30 (CM) 1.31 Discover Bank Greenwood,DE (800)347-7000 2500 1.49 (CD) 1.50
Six-Month CDs2 2½-Year CDs 90-Day Jumbo CDs
Telephone Min. Recent Effect. Telephone Min. Recent Effect. Telephone Min. Recent Effect.
Institution Location No. Deposit % Rate % Yield Institution Location No. Deposit % Rate % Yield Institution Location No. Deposit % Rate % Yield
First Internet Bank Indianapolis,IN (888)873-3424 1000 1.05 (CM) 1.06 Discover Bank Greenwood,DE (800)347-7000 2500 1.39 (CD) 1.40 First Internet Bank Indianapolis,IN (888)873-3424 1000 0.60 (CM) 0.60
Emigrant Direct New York,NY (800)836-1997 1000 1.00 (CD) 1.00 Capital One 360 Wilmingtn,DE (877)469-0232 1 1.34 (CM) 1.35 FVCbank Washingtn,DC (888)922-6537 1000 0.50 (CM) 0.50
Dollar Savings Direct Ossining,NY (866)395-8693 1000 1.00 (CD) 1.00 TIAA Bank Jackson,FL (888)882-3837 5000 1.19 (CD) 1.20 Wesbanco Bank Waldorf,MD (888)843-7250 1000 0.50 (CQ) 0.50
My Savings Direct Ossining,NY (877)752-1919 1000 1.00 (CD) 1.00 My Savings Direct Ossining,NY (877)752-1919 1000 1.09 (CD) 1.10 MyBankingDirect.com Westbury,NY (866)285-1856 2500 0.50 (SI) 0.50
BankDirect Dallas,TX (877)839-2737 10000 1.00 (CD) 1.00 Bank OZK New York,NY (212)218-8383 1000 1.04 (CM) 1.05 TIAA Bank Jackson,FL (888)882-3837 5000 0.50 (CD) 0.50
1Including passbook, statement savings, and bank-offered liquid asset accounts.
Yields are based on the stated rate and compounding method in effect Friday and are subject Source: (c) 2020, Informa Research Services, 30501 Agoura Road, 2nd Floor, Agoura Hills, CA
2Six-month CD yields assume reinvestment of principal and interest at the same rate for an to change. Phone to verify before investing or sending money. 91301 818-880-8877. All rights reserved. May not be reproduced or retransmitted in any
additional six months. form without express written consent of Informa Research Services.
(CC) Compounded continuously; (SA) compounded semiannually; (CD) compounded daily;
Rates are the highest yields on six types of accounts offered by federally-insured banks and (CA) compounded annually; (CM) compounded monthly; (SI) simple interest; (CQ) com-
savings associations nationwide. pounded quarterly
M30 BARRON’S May 18, 2020

Market Laboratory
DJ HALF-HOURLY AVERAGES THE DOW JONES AVERAGES TRADING DIARY
Market Advance/Decline Volumes
Dow Jones 30 Industrial (divisor: 0.14579812049809) Week's Daily May 11 12 13 14 15
Daily May 11 12 13 14 15 COMPONENTS Change INDUSTRIALS
29950 NY Up 259,763 176,013 109,336 731,743 752,070
3M -9.82 NY Off 741,530 754,335 1,007,278 318,841 605,195
Open (t) 24125.07 24346.34 23662.99 22997.62 23423.69
Open (a) 24256.45 24292.84 23702.16 23049.06 23454.83 American Express -7.28 NY Up - Composite 1,261,164 1,133,924 729,691 3,822,149 3,136,537
NY Off - Composite 3,565,537 4,051,554 5,380,991 1,775,417 2,351,924
10:00 24100.49 24295.75 23544.57 22829.22 23566.10 Apple -2.42 28950 NYSE Amer UP 15,561 9,498 6,401 15,525 13,965
10:30 24121.07 24249.41 23634.56 22897.16 23566.42 Boeing -13.44 NYSE Amer Off 8,421 13,371 16,263 8,094 7,495
11:00 24114.07 24255.08 23531.87 23152.19 23472.58
Caterpillar -4.19 NASD Up 2,333,893 1,886,975 1,045,348 2,632,416 2,489,801
11:30 24168.41 24270.54 23448.88 23158.84 23467.08
27950 NASD Off 1,512,707 2,429,843 3,150,325 1,262,976 1,713,899
12:00 24183.85 24232.02 23299.74 23166.80 23458.14 Chevron -6.31 NYSE Arca UP 61,314 60,610 111,104 247,335 169,029
12:30 24254.69 24251.68 23267.00 23249.63 23548.66 Cisco Systems 1.28 NYSE Arca Off 162,554 229,905 254,937 134,707 142,139

.
1:00 24282.73 24240.53 23299.75 23395.73 23530.84 % (QCHA) –1.09 –1.95 –3.22 +.52 +.65
1:30 24339.48 24081.22 23290.71 23475.63 23591.49 Coca-Cola -2.85 26950 % (QACH) +.13 –.88 –2.01 +.49 +1.16

ly
2:00 24306.37 24143.21 23227.78 23375.45 23619.53 Disney -0.11 % (QCHAQ) +.47 –1.53 –2.67 +.16 +1.37
2:30 24267.37 24081.83 23227.29 23432.89 23722.96 Dow -0.77 Market Advance/Decline Totals
3:00 24302.40 24112.93 23159.25 23400.28 23623.96 25950
3:30 24285.50 24018.04 23114.98 23547.55 23661.30
ExxonMobil -4.18 NOTICE TO READERS: Week ended last Friday compared to previous Friday
Close 24221.99 23764.78 23247.97 23625.34 23685.42 Goldman Sachs -13.52 Weekly Comp. NYSE NYSE Amer Nasdaq NYSE Arca

on
High (t) 24438.38 24495.24 23836.35 23690.70 23895.27 Home Depot 4.90 24950 Total Issues 3,064 283 3,474 1,515
Low (t) 23924.28 23750.48 23003.82 22657.43 23214.50
IBM -6.01
Sign up for the Weekly Advances 498 84 1,012 387
Declines 2,538 194 2,406 1,116
High (a)
Low (a)
24366.21 24382.09 23708.90
24070.22 23761.58 23067.64
23630.86
22789.62
23730.08
23354.15 Intel -1.39 Market Lab Newsletter: Unchanged 28 5 56 12
Change –109.33 –457.21 –516.81 +377.37 +60.08 Johnson & Johnson 1.74 barrons.com/newsletters 23950 New Highs 73 10 202 52
New Lows 130 14 169 42
Theoretical (t): High 24495.24 Low 22657.43 JPMorgan Chase -6.80

us ,
Actual (a): High 24382.09 Low 22789.62 NYSE Composite Daily Breadth
McDonald's -7.42 Please visit the new Market 22950 Daily May 11 12 13 14 15

l
Dow Jones 20 Transport (divisor: 0.16385001129960) Merck 3.38 Issues Traded 3,009 3,012 3,012 3,023 3,009
Lab home page on Advances 1,007 679 326 1,614 1,658

e
al a
Open (t) 8226.06 8255.78 7961.06 7699.54 7767.59 Microsoft -1.52 Declines 1,913 2,262 2,648 1,353 1,268
Open (a) 8262.70 8249.43 7962.10 7715.17 7778.78
Nike Cl B -3.47
barrons.com under Data. 21950 Unchanged 89 71 38 56 83
New Highs 34 36 16 15 29
10:00
10:30
8197.68
8180.43
8210.23
8197.80
7883.20
7942.42
7529.54
7589.23
7808.12
7841.26 Pfizer 0.54 www.barrons.com/market- New Lows 14 25 72 104 17
Blocks - primary 5,281 5,280 6,659 6,315 5,716

ci on
11:00 8181.34 8205.58 7877.90 7728.83 7812.26 Procter & Gamble -1.34 data/market-lab 20950 Total (000) - primary 1,004,323 939,473 1,123,776 1,064,015 1,378,473
11:30 8219.74 8199.12 7829.96 7664.74 7790.89 Total (000) 4,841,576 5,236,524 6,145,648 5,667,761 5,574,951
Raytheon Technologies -5.94
12:00 8234.40 8191.09 7792.23 7655.37 7783.86 NYSE American Composite
12:30 8274.62 8195.15 7781.16 7693.44 7820.18 Travelers Cos -7.03
19950 Daily May 11 12 13 14 15
1:00 8275.59 8192.61 7812.03 7739.15 7824.03 UnitedHealth Group 3.96 Issues Traded 271 269 270 271 265
1:30 8297.59 8123.68 7824.77 7779.98 7828.69 Verizon Communications -2.29 Advances 113 87 62 127 152
2:00 8286.92 8137.54 7781.96 7724.16 7822.83 Declines 144 168 202 135 105
Visa Cl A -1.60 18950 Unchanged 14 14 6 9 8

er s
2:30 8269.34 8113.28 7769.32 7726.88 7820.93 New Highs 3 5 ... 1 3
3:00 8272.52 8118.89 7754.89 7734.91 7757.28 Walgreens Boots Alliance -3.27 New Lows 1 4 4 7 2
Blocks - primary 198 211 219 192 218
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

3:30 8259.75 8087.09 7767.62 7796.61 7789.50 Walmart 3.00 Total (000) - primary 24,178 23,556 23,625 24,420 21,578
Close 8234.18 8000.55 7823.80 7861.34 7761.00 17950
High (t) 8350.08 8302.41 8013.18 7877.54 7898.78
m er Total (000) 264,450 275,391 227,815 279,540 219,545
Low (t) 8134.54 7995.42 7713.40 7497.89 7684.38 Nasdaq
High (a) 8310.93 8277.07 7967.21 7866.04 7869.53
TRANSPORTATION 11600 Daily May 11 12 13 14 15
Low (a) 8165.56 7999.48 7744.56 7505.28 7716.94 Alaska Air Group -4.37 Issues Traded 3,333 3,335 3,337 3,351 3,294
Advances 1,483 893 617 1,619 2,017
Change –98.32 –233.63 –176.75 +37.54 –100.34 American Airlines Group -1.10 Declines 1,788 2,371 2,644 1,641 1,191
Theoretical (t): High 8350.08 Low 7497.89
m rp
Avis Budget Group -2.86 10900 Unchanged 62 71 76 91 86
Actual (a): High 8310.93 Low 7505.28 New Highs 119 116 42 22 58
CH Robinson Worldwide -1.30 New Lows 15 43 95 114 22
Blocks - primary 21,492 23,835 20,792 19,741 21,501
Dow Jones 15 Utilities (divisor: 1.41366797515660) CSX -4.11 Total (000) 3,861,416 4,328,506 4,222,206 3,929,560 4,226,626
10200
Open (t) 757.23 762.88 750.38 739.87 748.73 Delta Air -3.53 NYSE Arca Composite
Open (a) 757.93 762.90 750.40 741.09 749.39 Expeditors Intl of Wash -3.32 Daily May 11 12 13 14 15
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

10:00 749.52 762.20 745.46 734.49 746.17


10:30 749.77 761.61 747.06 734.05 745.98 FedEx -12.92 9500 Issues Traded 1,401 1,400 1,406 1,396 1,386
Advances 507 336 294 930 883
co o

11:00 749.96 760.78 746.83 739.02 741.77 JB Hunt Transport -5.11 Declines 877 1,056 1,098 447 479
11:30 755.43 761.97 744.68 739.00 739.57 Unchanged 17 8 14 19 24
JetBlue Airways -0.85 New Highs 21 23 7 2 17
12:00 755.64 759.40 741.23 743.31 737.26 8800 New Lows 18 15 16 8 6
12:30 759.33 753.07 741.27 746.21 736.69 Kansas City Southern -2.78 Blocks - primary 961 1,279 1,391 1,391 1,132
F

1:00 759.93 756.61 743.37 751.08 735.38 Kirby Corp -4.75 Total (000) - primary 235,478 291,629 366,977 383,507 313,037
Total (000) 1,264,502 1,645,140 1,923,474 1,986,412 1,591,864
1:30 762.13 756.02 743.47 755.46 735.86 Landstar System -3.80 8100
2:00 760.94 756.64 743.20 751.63 737.13
2:30 757.30 755.57 740.52 752.89 736.28
Matson Inc. -3.21
3:00 761.25 757.67 739.08 749.39 735.08 Norfolk Southern -14.39 7400 OTHER MARKET INDEXES
3:30 762.50 757.01 742.88 753.60 736.07 Ryder System -5.59 Daily 5/11 5/12 5/13 5/14 5/15
Close 761.83 753.30 747.54 754.78 744.49 Southwest Airlines -3.33 NYSE Amer Comp 1885.92 1863.55 1791.65 1809.67 1823.13
High (t) 766.40 768.20 756.05 757.96 753.88 6700 AmMajorMkt 2223.85 2177.48 2130.12 2162.26 2170.85
Low (t) 746.81 749.89 735.92 728.72 731.20 Union Pacific -7.02
BNY ADR Idx 118.42 117.00 115.78 115.57 115.25
High (a) 763.64 765.56 752.57 756.83 749.51 United Airlines -5.50 Europe 106.68 105.67 104.49 103.68 103.31
Low (a) 748.28 751.88 738.58 730.31 733.96 United Parcel Service B -3.80 Latin Am 124.27 121.39 118.81 120.77 118.96
Change –2.28 –8.53 –5.76 +7.24 –10.29 6000 Asia 156.79 154.50 153.25 153.95 153.77
Theoretical (t): High 768.20 Low 728.72 Emerg M 266.39 263.07 260.08 262.57 261.30
UTILITIES DJ US TSM Float 29663.42 29011.98 28441.92 28760.56 28903.31
Actual (a): High 765.56 Low 730.31
975 Nasdaq Cmp 9192.34 9002.55 8863.17 8943.72 9014.56
n-

AES -1.12 100 Index 9298.92 9112.45 9000.08 9094.43 9152.64


Dow Jones 65 Composite (divisor: 0.76596207804696)
American Elec Power -1.43 Indus. 6915.15 6778.71 6709.82 6770.65 6835.79
Open (t) 7749.34 7808.25 7592.06 7390.07 7502.08 Insur. 7601.06 7396.26 7082.34 7210.15 7255.15
Open (a) 7783.48 7796.74 7599.76 7405.44 7511.61 American Water Works -0.27 900 Banks 2509.57 2383.60 2273.85 2313.08 2312.68
10:00 7724.36 7787.62 7543.78 7311.71 7533.13 CenterPoint Energy -1.79 Computer 6272.89 6148.90 6042.99 6104.74 6133.87
10:30 7725.05 7775.05 7576.54 7336.61 7539.93 Telecom 384.95 380.17 371.19 381.28 386.21
Consolidated Edison -3.82
no

NYSE Comp.-z 11281.36 11055.58 10829.44 10927.41 10947.32


11:00 7724.26 7776.26 7542.76 7424.18 7508.09
Dominion Energy -0.18 825 Financial-z 6244.98 6067.21 5894.96 5996.64 5963.20
11:30 7752.92 7780.24 7512.73 7411.70 7498.42
Health Care-z 17681.75 17465.96 17348.03 17458.76 17550.15
12:00 7759.39 7766.17 7469.92 7419.17 7490.94 Duke Energy -0.59 Energy-z 6158.70 6049.92 5809.65 5822.09 5818.58
12:30 7788.28 7759.16 7461.38 7448.44 7514.89 Edison Intl -1.10 750 Russell 1000 1616.24 1582.12 1552.57 1570.66 1577.46
1:00 7794.93 7763.02 7478.10 7495.01 7509.91 2000 1321.24 1275.54 1233.25 1237.55 1256.99
1:30 7814.49 7716.86 7479.29 7526.99 7523.32
Exelon -2.14 3000 1700.04 1662.81 1630.37 1648.61 1656.81
2:00 7803.72 7732.77 7457.65 7488.96 7529.76 FirstEnergy -1.31 Value-v 1070.38 1044.88 1020.42 1034.46 1033.99
2:30 7785.82 7713.91 7449.91 7502.79 7547.48 NextEra Energy -1.88 675 Growth-v 1790.20 1755.98 1729.30 1746.78 1760.49
MidCap 1992.43 1939.85 1887.02 1913.83 1922.67
3:00 7800.45 7724.97 7431.21 7491.84 7512.81
NiSource -0.90 S&P 100 Index 1348.41 1322.87 1302.87 1317.39 1323.54
3:30 7796.81 7698.84 7432.53 7540.85 7528.63 500 2930.32 2870.12 2820.00 2852.50 2863.70
Close 7778.02 7625.26 7478.46 7571.68 7542.66 Public Service Enterprise -3.31 600 Ind. 4138.40 4058.10 3992.23 4033.41 4060.12
High (t) 7852.44 7856.38 7646.68 7593.46 7629.41 Sempra Energy -5.03 MidCap 1663.48 1604.80 1550.70 1567.15 1578.26
Low (t) 7672.31 7615.16 7386.92 7261.61 7412.10 SmallCap 756.76 728.74 700.59 703.17 712.38
Southern -2.87 Value Line(A) 5349.11 5187.79 5000.75 5048.32 5089.42
High (a) 7822.22 7821.23 7599.76 7572.87 7564.23
Low (a) 7709.75 7624.50 7417.29 7293.37 7465.61
525 Value Line(G) 408.13 395.59 381.09 384.54 387.49
Nov Dec Jan Feb Mar Apr May DJ US Small TSM 8906.67 8591.66 8300.72 8364.38 8475.24
Change –46.05 –152.76 –146.80 +93.22 –29.02
(A)-Arithmetic Index. (G)-Geometric Index.
Theoretical (t): High 7856.38 Low 7261.61 Note: Theoretical highs and lows are shown. (v)-Value 1000 and Growth 1000. (y)-Dec. 31,1965=50. (z)-Dec.
Actual (a): High 7822.22 Low 7293.37 31,2002=5000.
May 18, 2020 BARRON’S M31

Market Laboratory
INDEXES' P/ES & YIELDS PER SHARE VALUES OF STOCKS IN THE DOW BARRON'S 50-STOCK AVERAGE
JONES AVERAGES
DJ latest 52-week earnings and dividends adjusted by Dow Divisors at Friday's close. S&P Dec. 4-quarter's GAAP earnings as This index is an weighted average of 50 leading issues.
reported and indicated dividends based on Friday close.S&P 500 P/E ratios based on GAAP earnings as reported. For additional This is a list of the Dow Jones trailing 52-week diluted Useful in security valuation. Source: Barron's Stats
earnings series, please refer to www.spglobal.com. DJ latest available book values for FY 2018 and 2017, and S&P latest for 2018 and share earnings, dividends and book values as reported
2017. r-Revised data May 14 May 7 May Yr-to-Yr
by the company. Bolded numbers indicate new values. 2020 2020 2019 % Chg
Last Prev. Year Last Prev. Year
Week Week Ago Week Week Ago Sources Barron's Stats and FactSet.
S&P 500 Index 2852.50 2881.19 2872 –0.67
DJ Ind Avg 23685.42 24331.32 25764.00 Divs Yield % 3.50 3.40 3.11 Industrial Stocks Barron's 50 Index 7396.08 7531.65 9019 –18.00
Divs $ 26.08 25.98 24.61 Book Book
P/E Ratio 19.79 20.33 17.69 Earns Divs. Value Earns Divs. Value Projected quarterly earn 75.26 75.26 109.33 –31.17
Earns Yield % 5.05 4.92 5.65 Mkt to Book 2.01 2.06 2.19
Earns $ 1196.59 1196.86 1456.20 Book Value $ 370.98 370.98 360.31 Am Exp 6.59 1.68 26.32 JPMorgChase 8.85 3.50 70.35 Annualized projected earn 301.02 301.03 437.33 –31.17
Apple 12.75 3.13 22.53 McDonalds 7.63 4.82 (8.16)
Divs Yield % 2.79 2.73 2.25 S&P 500 Index 2863.70 2929.80 2859.53 Boeing (6.06) 8.22 0.60 Merck Co 3.95 2.32 10.30
Annualized projected P/E 24.57 25.02 20.69 18.77
Divs $ 661.66 663.10 579.60 P/E Ratio 20.53 21.01 21.60 Caterpillar 9.44 4.12 24.39 Microsoft 6.00 1.94 13.39 Five-year average earn 396.75 396.75 400.6 –0.96
Mkt to Book 3.64 3.74 4.15 Earns Yield % 4.87 4.76 4.63 Chevron Corp 2.05 4.86 81.22 Nike Inc 2.71 0.93 5.77 Five-year average P/E 18.64 18.98 22.51 –17.20
Book Value $ 6512.92 6512.92 6201.99 Earns $ 139.47 139.47 132.39 Cisco Sys 2.52 1.41 9.36 Pfizer 2.82 1.48 11.09
Coca Cola 2.32 1.61 3.98 Proc Gam 1.77 3.0284 18.49 Year-end earn 334.01 334.01 445.9 –25.09
DJ Trans Avg 7761.00 8332.50 10491.85 Divs Yield % 2.04 2.01 2.02
P/E Ratio 20.08 21.56 16.68 Divs $ 58.42 58.89 57.76
Disney Walt 2.97 1.76 32.52 3M Co 8.52 5.79 16.99 Year-end P/E 22.14 22.55 20.23 9.44
Dow (2.27) 2.80 Travelers Cos 9.28 3.28 86.85
Earns Yield % 4.98 4.64 5.99 Mkt to Book 3.13 3.20 3.36 ExxonMobil 2.67 3.48 45.27 UnitedHealth Grp 14.29 4.32 53.85 Year-end earns yield, % 4.52 4.43 4.9 –8.68
Earns $ 386.51 386.51 628.84 Book Value $ 914.49 914.49 851.62 Goldman Sachs 18.40 4.60 214.80 Raytheon Tech 4.75 2.68 44.63 Best grade bond yields, % 2.31 2.23 3.4 –31.41
Divs Yield % 2.25 2.09 1.54 Home Depot 10.25 5.58 (1.70) Verizon 4.43 2.4475 12.86
S&P Ind Index 4060.12 4124.11 3857.46 IBM 10.47 6.49 18.82 Visa 5.55 1.15 12.88 Bond yields/stock ylds, % 0.51 0.50 0.68 –24.98
Divs $ 174.44 174.32 161.19 P/E Ratio 25.50 25.90 23.16
Mkt to Book 2.40 2.57 3.26
Intel 5.16 1.29 16.51 Walgreens 3.90 1.8185 27.31 Actual year-end divs 224.10 224.42 210.65 6.38
Earns Yield % 3.92 3.86 4.32 Johnson&John 7.56 3.80 22.44 Wal-mart 5.19 2.14 25.19
Book Value $ 3239.67 3239.67 3217.98 Earns $ 159.25 159.25 166.56
Actual yr-end divs yld, % 3.03 2.98 2.34 29.69
Transportation Stocks
DJ Utility Avg 744.49 764.11 790.23 Divs Yield % 1.78 1.77 1.88 Alaska Air Group 4.30 1.425 30.45 KC Southern 5.97 1.52 47.65
P/E Ratio 22.45 23.04 29.27 Divs $ 72.27 73.00 72.52 American Airlines (1.86) 0.40 (0.37) Kirby Corp (2.51) Nil 53.67
Earns Yield % 4.45 4.34 3.42 Mkt to Book 4.30 4.37 4.37 Avis Budget Grp 3.05 Nil 5.45 Landstar Sys 5.73 0.74 17.12 STOCK VOLUME
Earns $ 33.16 33.16 27.00 Book Value $ 944.26 944.26 883.41 C.H. Robinson 3.59 2.02 11.62 Matson Inc 1.72 0.88 17.69
CSX Corp 4.17 0.98 15.35 Norf So 9.21 3.76 57.30 Last Prev. Year YOY
Delta Air Lines 5.39 1.5575 20.13 Ryder Sys (3.18) 2.24 54.79 Week Week Ago % Chg
144 FILINGS Expeditors Int'l 3.30 1.00 11.58 Southwest Air 3.40 0.72 17.83
NYSE(a) 5,510,060 4,658,272 2,973,677 85.29
FedEx (1.39) 2.60 68.08 Un Pacific 8.39 3.79 28.17
Hunt (JB) 4.96 1.06 19.33 UPS 4.94 3.89 3.52 30 Dow Inds (b) 2,163,558 1,821,817 1,459,084 48.28
SEC Form 144 must be filed by holders of restricted securities (also called letter stock) who intend to sell shares. Shares Indi- JetBlue Air 0.81 Nil 15.02 United Airlines 3.68 Nil 37.03 20 Dow Trans (b) 1,176,087 1,313,508 187,692 526.61
cated: the number to be sold. Sales Date: the approximate date of the sale. (Sometimes shares aren't sold, even though their owner 15 Dow Utils (b) 366,107 285,749 225,428 62.41
Utility Stocks 65 Dow Stks (b) 3,705,752 3,421,073 1,872,204 97.94
has filed a Form144.) Source: Thomson Reuters AES Corp. 0.44 0.5528 4.84 Exelon 2.68 1.49 31.78
NYSE American (a) 117,356 101,966 46,762 150.97
Am Elec 3.73 2.77 38.58 FirstEnergy 1.25 1.54 13.17
Shares Sale American Water Works 3.49 2.05 32.45 NextEra Energy 7.22 5.15 71.43 Nasdaq(d) 20,568,314 18,527,853 10,617,874 93.71
Company Sym Indicated $ Value Date Seller Title CenterPt Energy (1.39) 1.1525 12.61 NiSource Inc. 0.49 0.81 13.08 NYSE 15 Most Active
Antero Midstream AM 10,000,000 41,000,000 5/5/20 Warren, Glen AF Con Ed 3.88 3.01 52.11 Pub Sv Ent 2.83 1.90 28.53 Average Price 11.85 15.53 25.90 -54.25
Dominion Energy 2.20 3.6925 29.53 Sempra Energy 2.53 3.9475 54.35 % Tot Vol 17.14 16.25 15.35 11.66
First Busey BUSE 2,900,000 2,900,000 5/24/20 Bradshaw, Stanley D Duke Energy 5.06 3.78 60.27 Southn Co. 3.36 2.50 23.91
Datadog DDOG 328,800 14,789,424 5/4/20 Pomel, Olivier AF Stock Offerings $(z,v) 20,215,000 r6,800,600 6,374,400 217.13
Edison Int'l 3.46 2.50 32.10
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Zillow Z 318,100 16,500,000 8/8/20 Rascoff, Spencer AF Daily Stock Volume


Fastly FSLY 272,598 9,153,841 5/8/20 Maasberg, Wolfgang AF Daily 5/11 5/12 5/13 5/14 5/15
Assetmark Financial AMK 195,384 4,689,216 5/7/20 Goldman, Charles AF DISTRIBUTIONS & OFFERINGS
Fastly FSLY 176,250 5,918,475 5/7/20 Bergman, Artur AF NYSE(a) 1,004,323 939,473 1,123,776 1,064,015 1,378,473
Secondary Distributions of common stocks 30 Inds (b) 356,508.3 361,561.7 473,324.7 476,984.5 495,179.3
SS&C Technologies SSNC 170,000 9,775,000 5/7/20 Boulanger, Normand D Akebia Therapeutics 11,000,000 $12.00 $132,000,000
Vicor VICR 159,105 8,353,013 5/7/20 Vinciarelli, Patrizio UT 20 Trans (b) 201,591.9 183,909.9 277,506.9 315,539.4 197,539.1
ArcelorMittal SA 80,906,149 $9.27 $750,000,001
Assetmark Financial AMK 130,256 3,152,195 5/4/20 Goldman, Charles AF 15 Utils (b) 57,955.7 71,460.8 67,146.0 67,409.4 102,134.9
Atomera 1,760,000 $5.00 $8,800,000
65 Stks (b) 616,055.8 616,932.4 817,977.6 859,933.3 794,853.3
AtriCure 3,977,273 $44.00 $175,000,012
NYSE Amer(a) 24,178 23,556 23,625 24,420 21,578
THE WEEK IN STOCKS FOR THE MAJOR INDEXES Axcella Health 11,000,000 $4.75 $52,250,000 Nasd(d) 3,861,416 4,328,506 4,222,206 3,929,560 4,226,626
BlackRock 31,628,573 $420.00$13,284,000,660 NYSE 15 Most Active
12-Month Weekly Friday Weekly 12-Month Change From Chefs' Warehouse 5,600,000 $13.25 $74,200,000 Avg. Price 13.08 15.43 11.58 20.27 18.20
High Low High Low Close Chg. % Chg. Chg. % Chg. 12/31 % Chg. Comstock Resources 40,000,000 $5.00 $200,000,000 % Tot Vol 16.02 16.13 20.93 17.97 18.74
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Dow Jones Indexes Equinix 2,587,500 $665.00 $1,720,687,500 Numbers in thousands save price and percentages. (a) Primary
29551.42 18591.93 30 Indus 24221.99 23247.97 23685.42 –645.90 –2.65 –2078.58 –8.07 –4853.02 –17.01 Great Panther Mining 25,000,000 $0.40 $10,000,000 volume. (b) Composite volume. (d) as of 4:10 pm. (r) Revised. (v)
11304.97 6703.63 20 Transp 8234.18 7761.00 7761.00 –571.50 –6.86 –2730.85 –26.03 –3140.28 –28.81 Insulet 2,369,668 $211.00 $499,999,948 W/E Thursday. (z) Source: Refinitiv.
960.89 610.89 15 Utilities 761.83 744.49 744.49 –19.62 –2.57 –45.74 –5.79 –134.68 –15.32 Kiniksa Pharmaceuticals 2,760,000 $18.25 $50,370,000
9710.01 6100.31 65 Comp 7778.02 7478.46 7542.66 –281.41 –3.60 –1063.25 –12.35 –1843.82 –19.64 Lexington Realty Trust 15,000,000 $9.60 $144,000,000
Dow Jones Indexes MGE Energy 1,495,000 $56.00 $83,720,000 DELTA MARKET SENTIMENT INDICATOR
34631.28 22462.76 US TSM Float 29663.42 28441.92 28903.31 –767.48 –2.59 –522.35 –1.78 –4132.06 –12.51 MyoKardia 6,037,500 $105.00 $633,937,500
840.63 547.67 US Market 722.81 693.78 704.96 –17.98 –2.49 –7.11 –1.00 –95.80 –11.96 Penn National Gaming 16,666,667 $18.00 $300,000,006 The Delta MSI measures the position of ~1,800 stocks relative to an
704.81 487.28 Internet 704.81 681.26 698.29 –1.20 –0.17 59.77 9.36 69.82 11.11 Ping Identity 8,500,000 $24.00 $204,000,000 intermediate-term moving average crossover (MAC) point. When
New York Stock Exchange greater than 50% of the stocks followed are above this MAC point, the
Protagonist Therapeutics 8,050,000 $14.00 $112,700,000 market is bullish and equities are attractive. When the indicator is
14183.20 8777.38 Comp-z 11281.36 10829.44 10947.32 –407.02 –3.58 –1710.31 –13.51 –2965.71 –21.32 Q2 4,117,647 $76.50 $314,999,996 below 50%, risk is elevated and stock exposures should be reduced.
8908.29 5036.38 Financial-z 6244.98 5894.96 5963.20 –391.64 –6.16 –1890.95 –24.08 –2736.91 –31.46 Rexford Industrial Realty 6,250,000 $39.85 $249,062,500 Manager uses discretion on asset allocation when MSI is 50% +/- 3%.
18588.15 12991.76 Health Care-z 17681.75 17348.03 17550.15 110.87 0.64 2023.56 13.03 –519.95 –2.88 Sequans Communications 19,417,476 $5.15 $25,000,000
10445.28 4032.17 Energy-z 6158.70 5809.65 5818.58 –447.04 –7.13 –4510.82 –43.67 –4218.72 –42.03 Last 2 Weeks 3 Weeks
Sutro Biopharma 12,650,000 $7.75 $98,037,500 Current Sentiment Week Ago Ago
NYSE American Stock Exchange Vector 5,000,000 $10.85 $54,250,000
2626.91 1317.22 NYSE Amer Comp 1885.92 1791.65 1823.13 –93.11 –4.86 –728.57 –28.55 –729.43 –28.58 YETI 15,000,000 $28.20 $423,000,000 BEARISH 32.9% 26.6% 24.3%
2852.12 1742.29 Major Mkt 2223.85 2130.12 2170.85 -74.00 –3.30 –449.60 –17.16 –603.86 –21.76 Zillow 8,000,000 $48.00 $384,000,000 Current Market Exposure: 0% Equities, 0% Bonds, 100% Cash
Standard & Poor's Indexes Source: Delta Investment Management
1518.94 1040.00 100 Index 1348.41 1302.87 1323.54 –21.65 –1.61 56.13 4.43 –118.63 –8.23 Source: Dealogic LLC, New York City; (212) 577-4400. www.deltaim.com, (415) 249-6337
3386.15 2237.40 500 Index 2930.32 2820.00 2863.70 –66.10 –2.26 4.17 0.15 –367.08 –11.36
4605.11 3123.44 Indus 4138.40 3992.23 4060.12 –63.99 –1.55 202.66 5.25 –311.50 –7.13
2106.12 1218.55 MidCap 1663.48 1550.70 1578.26 –97.92 –5.84 –311.14 –16.47 –484.76 –23.50
1041.03 595.67 SmallCap 756.76 700.59 712.38 –58.49 –7.59 –222.18 –23.77 –308.80 –30.24 U.S. DOLLAR INDEX vs EURO and YEN
Nasdaq Stock Market
9817.18 6860.67 Comp 9192.34 8863.17 9014.56 –106.76 –1.17 1198.28 15.33 41.96 0.47 Weak Hands: The U.S. Dollar Index edged up 0.6% to top 100, as Europe’s econ-
9718.73 6978.02 100 Index 9298.92 9000.08 9152.64 –67.71 –0.73 1648.96 21.98 419.57 4.80
7463.47 5239.66 Indus 6915.15 6709.82 6835.79 –81.03 –1.17 439.80 6.88 28.09 0.41 omy remained weak and the U.K.’s exit talks with the E.U. faltered.
10673.14 6343.13 Insur 7601.06 7082.34 7255.15 –421.85 –5.49 –2168.42 –23.01 –2736.80 –27.39 10
4011.98 2136.72 Banks 2509.57 2273.85 2312.68 –304.42 –11.63 –1320.25 –36.34 –1656.15 –41.73
6590.23 4330.70 Computer 6272.89 6042.99 6133.87 –76.79 –1.24 1412.87 29.93 254.87 4.34 DXY (100.36)
s
439.67 298.17 Telecom 386.21 371.19 386.21 1.20 0.31 –38.19 –9.00 –2.30 –0.59
Russell Indexes
1875.24 1224.45 1000 1616.24 1552.57 1577.46 –38.64 –2.39 –6.45 –0.41 –206.75 –11.59
1705.22 991.16 2000 1321.24 1233.25 1256.99 –72.65 –5.46 –278.77 –18.15 –411.48 –24.66
1984.26 1288.04 3000 1700.04 1630.37 1656.81 –43.72 –2.57 –27.12 –1.61 –235.44 –12.44 0
1591.36 838.37 Value-v 1070.38 1020.42 1033.99 –46.51 –4.30 –185.95 –15.24 –313.67 –23.28
1931.39 1322.15 Growth-v 1790.20 1729.30 1760.49 –16.91 –0.95 217.81 14.12 –10.03 –0.57 s s
2472.07 1471.40 MidCap 1992.43 1887.02 1922.67 –80.92 –4.04 –244.40 –11.28 –459.24 –19.28
YEN in $ EURO in $
Others
6789.54 3854.81 Value Line-a 5349.11 5000.75 5089.42 –325.46 –6.01 –1027.99 –16.80 –1569.28 –23.57
562.05 305.71 Value Line-g 408.13 381.09 387.49 –25.90 –6.27 –138.80 –26.37 –164.70 –29.83
11510.08 6621.12 DJ US Small TSM 8906.67 8300.72 8475.24 –487.39 –5.44 –1944.32 –18.66 –2789.74 –24.76
746.64 455.11 Barron's 400 617.45 583.52 596.68 –24.40 –3.93 –82.09 –12.09 –135.55 –18.51 -10
J J A S O N D J F M A M
High/Low's are based upon the daily closing index. a-Arithmetic Index. G-Geometric Index. V-Value 1000 and Growth 1000 y-Dec.
31,1965=50 z-Dec. 31,2002=5000 Source: Tullett Prebon
M32 BARRON’S May 18, 2020

Market Laboratory
DOW JONES U.S. TOTAL MARKET INDUSTRY GROUPS NYSE DATA BANK
Net Change % Change and Ranking 52 Week
Coming Earnings
Latest Preceding Year-Ago
Top 20 Weekly Ranked IG-Sym Close Wkly YTD Week Rank Yr Ago Rank YTD Rank 3 Yr High Low Month Month Month Day Consensus Year
Estimate Ago
Gold Mining DJUSPM 152.52 + 6.12 49.26 +4.18 [1] +109.95 [1] +47.70 [1] +26.37 152.52 73.12
Mining DJUSMG 141.31 + 5.53 44.52 +4.08 [2] +94.62 [2] +46.00 [2] +21.78 141.31 72.72 Stock Volume Continued from page 9 of the main section.
Biotechnology DJUSBT 2350.94 + 77.71 191.71 +3.42 [3] +26.09 [11] +8.88 [9] +10.55 2,359.20 1,749.60 Bond Volume W
Pharmaceuticals & Biotech DJUSPN 871.93 + 23.93 27.40 +2.82 [4] +16.95 [18] +3.24 [16] +8.24 871.93 657.45 (Thous. $) April 0 0 26
Pharmaceuticals DJUSPR 619.61 + 14.74 –2.51 +2.44 [5] +10.79 [26] –.40 [18] +6.68 640.25 471.36 L Brands (Q1) -0.60 0.14
Broadline Retailers DJUSRB 2493.76 + 39.13 473.62 +1.59 [6] +28.96 [7] +23.45 [3] +31.44 2,523.13 1,791.13 Security Sales
Lowe’s (Q1) 1.32 1.22
Home Improvement Rtlrs DJUSHI 478.42 + 6.84 23.11 +1.45 [7] +18.67 [16] +5.08 [15] +13.37 505.50 298.04 Take-Two Interactive (Q4) 0.91 0.78
Specialty Retailers DJUSRS 1932.25 + 23.07 186.86 +1.21 [8] +14.33 [22] +10.71 [7] +20.40 1,932.25 1,335.92 Customers' margin debt Target (Q1) 0.57 1.53
Health Care Providers DJUSHP 2136.43 + 20.09 –94.23 +.95 [9] +20.34 [13] –4.22 [26] +13.35 2,319.67 1,476.04 (Mil $) March 479,291 545,127 574,013
General Retailers DJUSGT 1737.57 + 16.04 183.77 +.93 [10] +19.01 [15] +11.83 [5] +22.04 1,737.57 1,258.95 TH
Customers' credit balances
Insurance Brokers DJUSIB 391.95 + 3.48 –24.09 +.90 [11] +9.91 [28] –5.79 [29] +13.27 453.39 291.44 Agilent Technologies (Q2) 0.61 0.71
Toys DJUSTY 1053.08 + 5.86 85.04 +.56 [12] +28.22 [8] +8.78 [10] +4.07 1,066.15 765.22
(Mil $) March 191,046 163,001 141,074 America’s Car-Mart (Q4) 1.51 2.07
Retail DJUSRT 1519.77 + 6.56 126.37 +.43 [13] +17.26 [17] +9.07 [8] +18.25 1,526.41 1,135.92 Free credit bal. cash accounts BJ Wholesale Club (Q1) 0.35 0.26
Leisure Goods DJUSLE 687.14 + 2.02 37.59 +.30 [14] +27.86 [9] +5.79 [13] +4.71 696.52 491.25 (Mil $) March 226,202 197,716 180,765 Intuit (Q3) 4.89 5.55
Specialty Finance DJUSSP 348.08 + 1.02 19.18 +.29 [15] +29.53 [6] +5.83 [12] +28.00 382.03 230.56 Short interest
Telecom Equipment DJUSCT 1152.94 – .29 –130.98 –.03 [16] –12.97 [75] –10.20 [38] +5.40 1,454.29 924.24 NVIDIA (Q1) 1.67 0.88
(Thous. Shs) Apr. 30 15,581,876 15,651,486 14,387,334 Palo Alto Networks (Q3) 0.93 1.31
Internet DJUSNS 2022.61 – 8.75 100.24 –.43 [17] +16.03 [21] +5.21 [14] +13.13 2,141.92 1,473.18
Nondurable Hshld Pdts DJUSHN 928.21 – 7.59 –54.06 –.81 [18] +8.44 [29] –5.50 [28] +9.87 1,003.84 784.84 Short interest ratio TJX (Q1) -0.02 0.57
Health Care Equip & Svcs DJUSMC 1654.80 – 14.10 –67.79 –.84 [19] +16.12 [20] –3.94 [24] +14.67 1,796.12 1,183.84 (d) Apr. 30 2.8 2.6 4.4
F
Water DJUSWU 2526.59 – 25.98 –221.83 –1.02 [20] +4.91 [33] –8.07 [34] +13.07 3,131.32 2,090.23 (d) For period
Net Change % Change and Ranking 52 Week r-Revised Source: NYSE. *-Now includes composite trades.
Deere (Q2) 1.91 3.52
Top 20 Yr Ago Ranked IG-Sym Close Wkly YTD Week Rank Yr Ago Rank YTD Rank 3 Yr High Low Foot Locker (Q1) 0.24 1.53
Gold Mining DJUSPM 152.52 + 6.12 49.26 +4.18 [1] +109.95 [1] +47.70 [1] +26.37 152.52 73.12 More Earnings on Page 00l
Mining DJUSMG 141.31 + 5.53 44.52 +4.08 [2] +94.62 [2] +46.00 [2] +21.78 141.31 72.72 (Earnings are diluted and report dates are tentative. All fore-
Computer Hardware DJUSCR 3865.55 – 52.23 28.69 –1.33 [27] +49.28 [3] +.75 [17] +21.09 4,236.36 2,354.91 YEARLY HIGH/LOWS S&P 500 INDEX casts and historical numbers exclude extraordinary items by
Software DJUSSW 3408.58 – 36.99 364.88 –1.07 [22] +30.59 [4] +11.99 [4] +30.60 3,566.09 2,456.44 accounting definitions.)
Automobiles DJUSAU 237.02 – 8.82 24.26 –3.59 [60] +30.56 [5] +11.40 [6] +5.92 304.37 134.39
The yearly S&P 500 Index; with a high/low range based
Source: FactSet
Specialty Finance DJUSSP 348.08 + 1.02 19.18 +.29 [15] +29.53 [6] +5.83 [12] +28.00 382.03 230.56 on the daily close.
Broadline Retailers DJUSRB 2493.76 + 39.13 473.62 +1.59 [6] +28.96 [7] +23.45 [3] +31.44 2,523.13 1,791.13 Year High Date Low Date
Toys DJUSTY 1053.08 + 5.86 85.04 +.56 [12] +28.22 [8] +8.78 [10] +4.07 1,066.15 765.22
2020 3386.15 Feb. 19 2237.40 Mar. 23
Leisure Goods DJUSLE 687.14 + 2.02 37.59 +.30 [14] +27.86 [9] +5.79 [13] +4.71 696.52 491.25 YEARLY HI/LO BARRON'S GOLD MINING INDEX
Technology Hardware & Equip DJUSTQ 2077.22 – 34.59 –52.05 –1.64 [30] +27.38 [10] –2.44 [21] +16.80 2,311.70 1,489.26
2019 3240.02 Dec. 27 2447.89 Jan. 03
Biotechnology DJUSBT 2350.94 + 77.71 191.71 +3.42 [3] +26.09 [11] +8.88 [9] +10.55 2,359.20 1,749.60 2018 2930.75 Sept. 20 2351.10 Dec. 24 The yearly Barron's Gold Mining Index price; with a
2017 2690.16 Dec. 18 2257.83 Jan. 03
Software & Computer Svcs DJUSSV 3148.21 – 33.41 230.26 –1.05 [21] +21.99 [12] +7.89 [11] +20.78 3,339.96 2,332.65 high/low range based on the weekly close.
Health Care Providers DJUSHP 2136.43 + 20.09 –94.23 +.95 [9] +20.34 [13] –4.22 [26] +13.35 2,319.67 1,476.04 2016 2271.72 Dec. 13 1829.08 Feb. 11
2015 2130.82 May 21 1867.61 Aug. 25 Year High Date Low Date
Semiconductor DJUSSC 4142.39– 101.04 –171.06 –2.38 [42] +20.26 [14] –3.97 [25] +15.75 4,727.12 3,077.97
General Retailers DJUSGT 1737.57 + 16.04 183.77 +.93 [10] +19.01 [15] +11.83 [5] +22.04 1,737.57 1,258.95 2014 2090.57 Dec. 29 1741.89 Feb. 03 2020 634.30 May 07 391.56 Mar 19
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Home Improvement Rtlrs DJUSHI 478.42 + 6.84 23.11 +1.45 [7] +18.67 [16] +5.08 [15] +13.37 505.50 298.04 2019 597.01 Dec 26 400.31 Jan 24
Retail DJUSRT 1519.77 + 6.56 126.37 +.43 [13] +17.26 [17] +9.07 [8] +18.25 1,526.41 1,135.92 2018 540.76 Jan 25 382.52 Oct. 25
Pharmaceuticals & Biotech DJUSPN 871.93 + 23.93 27.40 +2.82 [4] +16.95 [18] +3.24 [16] +8.24 871.93 657.45 NYSE HALF-HOURLY VOLUME 2017 567.38 Feb 16 456.65 Dec 07
Medical Equipment DJUSAM 1977.59 – 39.18 –66.62 –1.94 [34] +16.22 [19] –3.26 [22] +17.06 2,138.90 1,435.62 2016 634.16 Aug 11 245.05 Jan 21
Health Care Equip & Svcs DJUSMC 1654.80 – 14.10 –67.79 –.84 [19] +16.12 [20] –3.94 [24] +14.67 1,796.12 1,183.84 Daily 5/11 5/12 5/13 5/14 5/15
2015 557.39 Jan 22 265.74 Dec 17
Groups are weighted by capitalization. 52-week highs and lows are based on daily closes. Dec. 31, 1991=100. In the U.S. listings, % vol chg
column shows the change from previous 65-day moving average. Volume figures do not reflect extended trading hours. 9:30-10:00 139,012 119,351 161,237 152,510 140,970 2014 815.69 July 17 499.10 Dec 24
10:00-10:30 54,912 49,693 66,892 81,304 55,729 2013 1035.18 Jan. 10 619.44 June 28
10:30-11:00 41,840 47,081 62,586 84,011 49,492 2012 1370.44 Feb 02 963.93 Jul 12
AMERICAN DEBT AND DEFICITS 11:00-11:30 35,903 40,553 63,236 64,667 43,696
Latest Preceding Year AgoYear over Year 11:30-12:00 30,875 32,610 57,772 53,111 35,465
12:00-12:30 28,807 32,427 58,512 35,343 31,481
Report Report Report % Chg SELECTED INITIAL PUBLIC OFFERINGS
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

12:30-1:00 26,694 27,429 41,266 34,467 29,136


Federal Budget Deficit (bil. $)-a ......................................... 1,068FY'21 1,101FY'20 1,092FY'19 …. 1:00-1:30 24,720 34,165 39,262 35,057 27,674 Initial Most
Budget Surplus/Deficit (bil. $)-b, April.............................. –737.85 r-118.99 +160.30 -560.29 1:30-2:00 25,840 28,095 30,870 32,985 28,089 Ticker Offer IPO Recent %
Code Price Date Price Chg
Trade Deficit (bil. $, sa)-c, March ........................................ –44.42 r-39.81 –52.69 -15.70 2:00-2:30 31,472 31,136 35,028 33,687 32,948
Treasury Gross Public Debt. (bil. $)-d ............................... 25,188.8 25,058.5 22,027.0 14.35 2:30-3:00 29,136 33,791 36,337 35,139 35,808 Novus Capital NOVSU 10.00 5/15 9.95 -0.5%
3:00-3:30 39,587 47,973 50,358 48,763 41,705 ADC Therapeutics ADCT 19.00 5/15 29.65 56.1%
Treasury Statutory Debt Limit (bil. $)-d............................. * 21,987.7 …. ….
3:30-4:00 495,526 415,169 420,421 372,971 826,280 Jaws Acquisition JWSU 10.00 5/14 10.25 2.5%
Consumer Installment Debt (bil. $)-e, March ................... 4,209.3 r4,221.4 4,052.4 3.87

PULSE OF THE ECONOMY


Only includes new reports. Latest Latest Preceding Year YroYr Latest Latest Preceding Year YroYr
Economic Growth and Investment Date Data Period Ago % Chg Date Data Period Ago % Chg
Durable manufacturing (NAICS) a, ................................................ Apr 80.1 r99.3 107.8 –25.70
Orders
Capacity utilization % .................................................................... Apr 64.9 r73.2 77.9 –16.69
Industrial output a, ........................................................................ Apr 92.6 r104.3 109.2 –15.20 No Activity for this Week
Manufacturing (NAICS) a, ............................................................. Apr 86.4 r100.2 105.7 –18.26 Trade
Nondurable manufacturing (NAICS) a............................................ Apr 92.7 r101.0 103.4 –10.35
No Activity for this Week
Production
Inflation
Electric power, (mil. kw hrs) (EEI) .................................................. May 9 65,654 64,307 69,699 –5.80
Mining (NAICS) a, ......................................................................... Apr 123.4 r131.5 132.8 –7.08 JOC–ECRI Industrial Price Index f .................................................. May 15 71.89 71.21 92.90 –22.62
Petroleum, related capacity, % ...................................................... May 8 67.9 70.5 90.5 –24.97 Consumer price index b (unadjusted) ............................................ Apr 256.4 258.1 255.5 0.35
Producer price index (finished goods) c ......................................... Apr 196.6 203.7 206.7 –4.89
Rotary rigs running, U.S. & Can., (Hughes) .................................... May 15 362 400 1,050 –65.52 Rate of inflation, % (annual, unadjusted)........................................ Apr 0.3 1.5 2.0 ….
Steel, (thous. tons) ........................................................................ May 9 1,204 1,144 1,927 –37.52
Steel, rated capacity, % (AISI)........................................................ May 9 53.7 51.1 82.8 –35.14 Employment
Utilities a ....................................................................................... Apr 99.3 r100.2 103.5 –4.06 Initial jobless claims (thous.) ........................................................ May 9 2,981 r3,176 217 1,273.73
Consumption and Distribution Continuing claims (mil.) ................................................................ May 2 22.833 r22.377 1.678 1,260.73
Job openings, (thous.) .................................................................. Mar 6,191 r7,004 7,364 –15.93
Business sales, (mil. $) ................................................................. Mar 1,386.15 r1,462.64 1,457.66 –4.91 Hires, (thous.) ............................................................................... Mar 5,206 r5,864 5,689 –8.49
Instinet Research Redbook Avg. (monthly %) ................................ May 9 –1.52 –12.41 1.30 …. Total separations, (thous.)............................................................. Mar 14,517 r5,595 5,553 161.43
Baltic Dry Index ............................................................................. May 15 407 514 1,040 –60.87 Help Wanted Online –Ads (thous,) ................................................. Apr 5,516.6 6,116.9 5,244.0 5.20
Retail store sales, (bil. $) ............................................................... Apr 403.95 r483.48 515.30 –21.61 Small Business Optimism Index .................................................... Apr 90.9 96.4 103.5 –12.17
Construction
Inventories
Building contracts, F.W. Dodge, (bil. $) .......................................... Apr 572.23 r762.17 686.52 –16.65
Business inventories, (bil. $) ......................................................... Mar 2,012.50 r2,016.70 2,017.97 –0.27
Domestic crude oil, (thous. bbls) Comm. (Excl. Lease Stck) ........... May 8 531,476 532,221 472,035 12.59 Other Indicators
Gasoline, (thous. bbls) .................................................................. May 8 252,894 256,407 225,024 12.39 Citi Research Panic–Euphoria Reading .......................................... May 15 0.40 r0.36 0.19 ….
Inventory–to–sales ratio (Business) .............................................. Mar 1.45 r1.38 1.38 5.07 a-1997 equals 100. b-1982-84 equals 100. c-1982 equals 100. f-1996 equals 100. h-benchmark revision, 2016 equals 100. r-Revised.
May 18, 2020 BARRON’S M33

Market Laboratory
WEEK’S NEW HIGHS AND LOWS WEEK’S NEW HIGHS AND LOWS WEEK’S NEW HIGHS AND LOWS WEEK’S NEW HIGHS AND LOWS
Weekly Comp. NYSE NYSE Amer Nasdaq AcamarPtrsWt Digirad MatthewsIntl Scienjoy BlkRkEnhnGovFd FlyingEagleAcqn McCormickVtg VeevaSystems BancoBradescoPf Embraer JohnBeanTech SunCokeEnergy
Aegion EagleBulkShip MetaFinancial SelectBancorp BlkRkIncmTr FlyingEagle Newmont WABCO BancoBradesco EmeraldHldg LGL Systems Un TIM Part
New Highs 73 10 202 AGBA AcqnWt Eastern MetenEdtechX SenesTech BostonBeer Franco-Nevada Qiagen Wayfair BancSanBrasil EmpireStateRealty LSB Inds TailoredBrands
New Lows 130 14 169 AirNetTech EastStoneWt MetroCityBkshs SensusHealthcare BrookfieldInfr GAIN Capital RingCentral WeisMarkets BancoSantander EmployersHldgs LeeEnterprises Team
AirT ECMOHO MidlandStBncp ShilohIndustries CC Neuberger I GFLEnvironmental Rollins WestPharmSvcs BancorpSouth Entravision LendingClub TelefonicaBras
NYSE AMER AlbertonAcqnWt ElectrameccanicaWt MidWestOneFin SimmonsFirstNat CableOne GFL Env Un ScottsMiracleGro WheatonPrecMet BankUnited EverestRe Linx Terex
ALJ Regional EmclaireFin MillicomIntl SoMO Bancorp CarrierGlobal GeneralMills Sea YamanaGold BerkshireHills FTS Intl LloydsBanking Tidewater
NEW HIGHS AltusMidstream EnterpriseBncp MonocleAcqnWt SonnetBio Catalent GigCapital3Un ServiceNow ZTO Express BostonProps FederalRealty Loews TItanIntl
CaledoniaMining eMagin MastechDigital RetractableTechs AmerAirlines EnterpriseFinSvcs MTS Systems SoNtlBcpVA ChannelAdvisor Brink's FirstCmwlthFin M&T Bank UnderArmour A
ChardanHlthcr2 Envela PowerREIT WidePoint AmerantBancorpA EquityBcshs NatlBankshares SouthState NEW LOWS BrookfieldDTLAPf FlotekIndustries Mack-Cali UnderArmour C
AmerisBancorp EsquireFinancial NBT Bancorp StarBulkCarriers ADC Therap Corts JCPen JBR GreatWesternBncp RiverNorthFlexMuni CBD Pao FortressValueAcqn Manitowoc US Bancorp
Electromed IntlTowerHill AMN Healthcare Corts JCPen JBS GuangshenRail RyersonHolding
NEW LOWS AmeriWt FarmersNatlBanc NextDecade StateAutoFin AcadiaRealty Corts JC KTP HSBC SeacorMarine CC Neuberger I FreshDelMonte Matson Valaris
Amcon GrupoSimec NatlHealthcare SifcoInd AmesNational FidelityD&D NicoletBankshares SteelConnect Alexanders Crawford A HertzGlobal SLGreenRealty CNA Fin FrontYardRes Meredith Valhi
BlueRidgeBkshs HowmetAeroPfd ParkNational TompkinsFin AmplitudeHlthcr FirstBancorp NorthfieldBanc SterlingCnstr CONSOL Coal GP Strategies Noble WashingtonREIT

.
Allete Crawford B Hexcel Satrn JCPen
Cohen IMPAC Mortgage Senseonics VoltInfoSci AmVirtualCloud FirstFinBncpOH NorthwestBcshs SummitFin AmbacFinWt Culp HighlandIncmFd SaulCenters Cabco JCP PFH GeneralElec Pearson WellsFargo
CondorHospitality Kaleyra ArchCapital FirstFinNW NovusCapital SundialGrowers Carlisle GenesisHealthcare PenneyJC WhitestoneREIT

ly
Ambev CustomersBancorp HoraceMannEdu ScorpioBulkers
AtlasTechWt FirstHawaiian OceanFirstPfdA Synchronoss ArgoGroup DanaherPfdB HysterYaleMatls ServiceCorp ChesapeakeEner GenworthFin PiedmontOfficeA WorldFuelSvcs
NASDAQ AtlUnionBkshs
AvidTechnology
FirstMerchants
FirstMidwestBncp
Old2ndBcp
OldNatlBncp
Tecogen
TesscoTech
ArmadaHoffler DeltaAir Invesco SouthwestAir ChesapeakeEnPfd GigCapital3Un ProAssurance XFinancial
Atento Deluxe Intelsat StandardMotor ComfortSystems GlobalCordBlood RaMedicalSys XeniaHotels
NEW HIGHS BayCom FirstNatlVA OP Bancorp TorchlightEner AuroraCannabis DianaShipping ItauUnibanco SteelPartners EngGr-Cmg C GrafTechIntl RegionalMgmt Xerox
1-800-FLOWERS CSXLGoldCvETN IZEA ProShUltNdBio BCB Bancorp Flexsteel OrganiGram TottenhamAcqnIWt BainCapRt Dillard's JawsAcquisition StudioCity EngGr-Cmg Graham
1LifeHealthcare CueBiopharma JackHenry ProtagonistTherap BionanoGenomWt Fossil OriginBancorp TriMas

on
AcaciaComms CyberOptics JD.com PurpleInnovation BrooklineBcp FstCmntyBcsh PacificMercBncp Trustmark
AcceleronPharma Cytokinetics KalaPharm Quidel CambiumNtwks FultonFin PeoplesBncpNC Umpqua HIGH-YIELD BONDS
ACM Research CytomXTherap KerosTherap RealPage CamdenNational GeneralFin Perma-PipeIntl UnitedFire
ActivisionBliz Cytosorbents KingsoftCloud RegenPharm CapitalaFinance Genfit PolarityTE UnitedInsurance Friday, May 15, 2020
ADialPharmWt Datadog KiniksaPharm Remark CarterBk&Tr GlobalIndemnity PositivePhysicians UnivestFin Ten most active fixed-coupon high-yield, or "junk", corporate bonds
AgroFresh DexCom KinsaleCapital Repay CenterStateBank GreenroseAcqnWt PriorityTechn UrbanOne D LAST LAST **EST EST VOL
AkebiaTherap DLH Holdings LatticeSemi Repligen ChinaLiberalEduc GTY Tech ProShUltShNdBtech USWellServicesWt

us ,
COMPANY (TICKER) COUPON MATURITY PRICE YIELD SPREAD UST (000's)
AlaskaCommSys DocuSign LincolnEduc RothCHAcquisitionI CincinnatiFin HalladorEnergy ProShUltShtQQQ UtdCmtyBks
AlbertonAcqnRt DraftKings LivongoHealth SapiensInt CityHolding HanmiFinancial ProvidentBncp VirTra

l
Bausch Health Companies (BHCCN) 6.250 Feb 15, 2029 99.999 6.252 562 10 963,650
AllogeneTherap DraftKingsWt LogitechIntl Schrodinger CmntyTrBcp HeritageFin RamacoRscs VS 3X INV SILVER

e
Altimmune EastStoneAcqn LoncarCancerETF ScienjoyWt CNB FinPA HMN Fin RandCapital WalgreensBoots Royal Carib Crus (RCL) 11.500 Jun 01, 2025 97.438 12.211 1190 5 862,185

al a
AMCI Acqn eBay LoncarChinaBio scPharm CodaOctopus HoughtonMifflin RBB Bancorp WaterstoneFinl Springleaf Finance (AMGFIN) 8.875 Jun 01, 2025 99.498 8.998 869 5 769,450
AmericanPubEdu EnphaseEnergy Macrogenics SeresTherap CodorusValleyBncp HowardBancorp Reading A Watford
AmplifyOnlineRet EsportsEntWt MarketAxess SkySolar CollectiveGrowth Infr&EnerAltern RecroPharma WesBanco Royal Carib Crus (RCL) 10.875 Jun 01, 2023 98.000 11.698 1151 3 586,846
Anterix Etsy Masimo SoFiGigEcon ColonyBankcorp InspiredEnt RepublicBcpKYA WillisLease Delta Air Lines (DAL) 7.000 May 01, 2025 96.500 7.865 756 5 486,776

ci on
ArcturusTherap Everbridge MercadoLibre SORL AutoParts ColumbiaBanking IRSA Prop RGC Resources WISeKey Live Nation Entertainment (LYV) 6.500 May 15, 2027 102.000 6.096 561 10 474,553
Arvinas Exelixis MeridianBiosci SorrentoTherap Corvel LibertyLatAmA RockyMtnChoc WVS Financial
ARYA SciencesWt Fastenal MersanaTherap SpartanNash CrossCtyHlthcr LibertyLatAmC RuhnnHolding Zhongchao Goodyear Tire & Rubber Co (GT) 9.500 May 31, 2025 100.625 9.308 900 5 471,539
AscendisPharma Five9 MinervaNeurosci SproutsFarmersMkt CSX-LinksCrudeOil LyraTherap S&T Bancorp ZionsBancorpWt Ford Motor Co (F) 9.000 Apr 22, 2025 97.750 9.580 927 5 412,509
Atlassian Fortinet Moderna SproutSocial CumulusMedia
Atomera ForumMergerII MomentaPharm SSR Mining Match Group (MTCH) 4.625 Jun 01, 2028 99.750 4.662 404 10 372,797
AtriCure ForumMergerII MongoDB Stamps.com NYSE Boyd Gaming (BYD) 8.625 Jun 01, 2025 101.500 8.179 787 5 370,007
AudioCodes ForwardPharma MonolithicPower SyndaxPharm
Volume represents total volume for the market; price/yield data are for trades of $100,000 and greater.* Denotes a security whose last round

er s
AudioEye FT DJ IntlInt MyoKardia TandemDiabetes NEW HIGHS
Bandwidth FTIntlEquOpps Natera TG Therap ADC Therap Chegg GoldFields Shopify lot trade did not take place on the last business day prior to publication. ** Estimated spreads, in basis points (100 basis points is one percent-
BELLUS Health GamidaCell Netease Tradeweb ASA Gold Chipotle HoulihanLokey SocialCapHedII age point), over the 2, 5, 10 or 30-year hot run Treasury note/bond. 2-year: 0.125 04/22; 5-year: 0.375 04/25; 10-year: 1.500 02/30;
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Bilibili GAN Netflix TranslateBio AgnicoEagle ChurchillCapIII Humana SocialCapHedIII 30-year: 2.375 11/49.†Comparable U.S. Treasury issue.
Bio-Techne
BioMarinPharm
Genasys
Genmab
NeuBaseTherap
NewbornAcqnRt
UltragenyxPharm
UnitedTherap
m er
AngloGoldAsh
AstraZeneca
Cloudflare
DRDGOLD
Inphi
JawsAcquisition
SturmRuger
TeklaLifeSci Source: MarketAxess Corporate BondTicker - www.bondticker.com
BiosigTech Geron NGM Biopharm US Energy Avalara DanaherPfdB KinrossGold TeklaWorldHlthcrFd
BioXcelTherap GlbXCloudComp nLIGHT USAutoPartsNtwk B&G Foods DollarGeneral LGLSysAcqnWt Trex
BlackDiamond
BlueknightEner
GlbXecomm NovaMeasuring
GlbXVideoGames Novavax
VanEckBiotech
VanEckVideoGam
BainCapRt EmergentBiosol LegacyAcqn Twilio CORPORATE BONDS
Bio-RadLab A Fastly MSCI TylerTech
Broadvision GreenroseAcqnWt NovusCapital VBI Vaccines Bio-RadLab B FiverrIntl McCormick UnitedNatFoods For the week ending Friday, May 15, 2020
m rp
CadenceDesign HainCelestial NVIDIA VectoIQAcqn Forty most active fixed-coupon corporate bonds
CellectBiotechWt HalozymeTherap OceanFirstPfdA VectoIQAcqnUn LAST LAST **EST EST $ VOL
Cellectis
CelsiusHldg
HorizonTherap Okta
IdexxLab OldDomFreight
VectoIQAcqnWt
Vermillion Coming U.S. Auctions COMPANY (TICKER) COUPON MATURITY PRICE YIELD SPREAD UST† (000's)
CentralGarden II-VI OraSureTechs VertxPharm Yields (%) Walt Disney Co (DIS) 3.600 Jan 13, 2051 104.595 3.356 205 30 1,079,662
CentralGardenA Imara Orgenesis VOXX Intl Day When Last Walt Disney Co (DIS) 2.650 Jan 13, 2031 102.030 2.432 180 10 811,361
CEVA Immunomedics OricPharm WaysideTech
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Issued* Auction Boeing Co (BA) 5.805 May 01, 2050 99.885 5.813 452 30 769,519
ChemoCentryx Immunovant PapaJohn's WisdTrCloud 3.875 Apr 15, 2030 107.192 3.011 238 10 711,521
ChinaJoJoDrug ImmunovantUn PartnerComms Wix.com M T-Mobile Usa (TMUS)
Boeing Co (BA) 5.150 May 01, 2030 99.361 5.233 461 10 664,478
co o

CitrixSystems ImmunovantWt PDL Biopharm Y-mAbsTherap $63.0 bil 3-month 0.118 0.125
Co-Diagnostics Insulet Peloton ZaiLab Walt Disney Co (DIS) 3.800 May 13, 2060 106.393 3.500 219 30 634,969
Compugen InvscDWAHlthcrMom PFSweb ZentalisPharm $54.0 bil 6-month 0.153 0.155 Bank Of New York Mellon (BK) 4.700 Sep 20, 2049 101.125 4.462 315 30 607,446
CoupaSoftware iRhythmTechs Pinduoduo Zynex Walt Disney Co (DIS) 1.750 Jan 13, 2026 100.433 1.669 136 5 594,564
CreativeRealities iShMSCIGlblGoldMin PrincipalHlthInnov Zynga T
F

$31.0 bil Boeing Co (BA) 4.875 May 01, 2025 100.000 4.875 456 5 576,235
CrescentAcqn iShNasdaqBiotech 1-year 0.153 0.165 Walt Disney Co (DIS) 4.700 Mar 23, 2050 123.288 3.434 213 30 548,775
NEW LOWS
1895Bancorp Daktronics MainStreetBcshs S&W Seed * As of Friday afternoon. Walt Disney Co (DIS) 3.500 May 13, 2040 104.546 3.185 188 30 538,471
Paypal Holdings (PYPL) 3.250 Jun 01, 2050 102.554 3.117 181 30 468,831
Walt Disney Co (DIS) 2.200 Jan 13, 2028 100.771 2.090 160 10 465,633
Top 5 Insider Sales by Company in 2020 Boeing Co (BA) 5.930 May 01, 2060 100.858 5.874 457 30 444,225
Paypal Holdings (PYPL) 2.300 Jun 01, 2030 101.300 2.152 152 10 427,191
Number of Number of Avg. Viacomcbs (VIAC) 4.200 May 19, 2032 98.014 4.415 379 10 426,606
Company Symbol Insiders Shares $ Value Price Boeing Co (BA) 4.508 May 01, 2023 100.335 4.383 420 3 404,537
Salesforce.Com ............................................. CRM 36 700,127 117,548,848 $ 167.90 Boeing Co (BA) 5.040 May 01, 2027 99.772 5.079 459 10 372,096
Datadog .......................................................... DDOG 29 3,762,296 161,702,558 $ 42.98 Unitedhealth Group (UNH) 2.900 May 15, 2050 101.978 2.801 149 30 360,848
Crowdstrike .................................................... CRWD 26 3,245,122 186,138,598 $ 57.36 General Motors Financial Inc (GM) 5.200 Mar 20, 2023 100.699 4.935 475 3 355,909
Apple (AAPL) 2.650 May 11, 2050 100.777 2.612 131 30 345,229
Zoom Video Communications ....................... ZM 26 1,667,970 175,014,309 $ 104.93 General Electric Co (GE) 4.350 May 01, 2050 87.981 5.140 383 30 328,719
Tradeweb Markets .......................................... TW 22 2,321,890 107,939,178 $ 46.49
n-

Oracle (ORCL) 3.600 Apr 01, 2050 109.062 3.126 182 30 323,020
T-Mobile Usa (TMUS) 3.750 Apr 15, 2027 106.252 2.728 224 10 319,510
CONFERENCE CALL CALENDAR T-Mobile Usa (TMUS) 4.500 Apr 15, 2050 114.046 3.711 241 30 317,872
T-Mobile Usa (TMUS) 4.375 Apr 15, 2040 110.559 3.613 231 30 311,207
Earnings - Related Broadcom (AVGO) 4.150 Nov 15, 2030 100.791 4.055 343 10 290,813
Paypal Holdings (PYPL) 1.650 Jun 01, 2025 100.423 1.561 125 5 275,939
no

Company Date Time Earnings-Related Period Coca-Cola Co (KO) 1.450 Jun 01, 2027 100.431 1.385 90 10 270,227
Agilent Technologies May 21 4:30PM Q2 Unitedhealth Group (UNH) 2.000 May 15, 2030 100.635 1.930 130 10 266,457
Exelon Generation Llc (EXC) 3.250 Jun 01, 2025 100.954 3.041 273 5 256,860
Analog Devices May 20 10:00AM Q2 Charles Schwab (SCHW) 5.375 Jun 01, 2049 103.750 4.562 425 30 254,145
Best Buy May 21 8:00AM Q1 Goldman Sachs Group (GS) 3.500 Apr 01, 2025 106.308 2.107 180 5 248,869
Expedia May 20 4:30PM Q1 Chevron (CVX) 3.078 May 11, 2050 104.669 2.843 154 30 245,635
Home Depot May 19 9:00AM Q1 Ge Capital International Funding Unlimited Co (GE) 4.418 Nov 15, 2035 93.449 5.032 440 10 242,272
Hormel Foods May 21 9:00AM Q2 Biogen (BIIB) 3.150 May 01, 2050 96.659 3.327 202 30 241,960
Honeywell Intl (HON) 2.800 Jun 01, 2050 104.020 2.604 130 30 236,201
Kohls May 19 9:00AM Q1 Oracle (ORCL) 2.950 Apr 01, 2030 107.785 2.054 147 10 235,911
Lowe's Companies May 20 9:00AM Q1 Coca-Cola Co (KO) 2.600 Jun 01, 2050 98.469 2.674 137 30 234,580
McKesson May 20 8:00AM Q4 Apple (AAPL) 1.650 May 11, 2030 99.899 1.661 103 10 234,544
Medtronic PLC May 21 8:00AM Q4 Volume represents total volume for each issue; price/yield data are for trades of $1 million and greater.* Denotes a security whose last round
Ross Stores May 21 4:15PM Q1 lot trade did not take place on the last business day prior to publication. ** Estimated spreads, in basis points (100 basis points is one
Take-Two Interactive Software May 20 4:30PM Q4 percentage point), over the 2, 5, 10 or 30-year hot run Treasury note/bond. 2-year: 0.125 04/22; 5-year: 0.375 04/25; 10-year: 1.500
02/30; 30-year: 2.375 11/49.†Comparable U.S. Treasury issue.
Source: CCBN, www.ccbn.com
Source: MarketAxess Corporate BondTicker - www.bondticker.com
M34 BARRON’S May 18, 2020

Market Laboratory
MONEY RATES CBOE PUT/CALL RATIO vs S&P 100 FOREIGN EXCHANGE
Latest Prev. Yr Ago Readings in the CBOE equity put-call ratio of 60:100 Friday, May 15, 2020 Foreign Foreign U.S. $ in U.S. $ in
Week Week and in the S&P 100 of 125:100 are considered bullish, The New York foreign exchange mid-range rates are quoted at 5 Currency Currency Foreign Foreign
p.m. Eastern time by Tullett Prebon. Retail transactions pro- in U.S.$ in U.S.$ Currency Currency
Discount Rate (NY) 0.25 0.25 3.00 for instance. Bearish signals flash when the equity Country Fri. Last Fri. Fri. Last Fri.
put-call level reaches the vicinity of 30:100 and the vide fewer units of foreign currency per dollar.
Prime Rate (base) 3.25 3.25 5.50 index ratio hits 75:100. Foreign Foreign U.S. $ in U.S. $ in South Korea (Won) .0008110 .0008198 1233.11 1219.80
Currency Currency Foreign Foreign
Fed Funds Rate in U.S.$ in U.S.$ Currency Currency Sri Lanka (Rupee) .0053 .0054 187.8500 186.5200
Avg effective offer 0.06 0.07 2.41 S&P 100 CBOE Country Fri. Last Fri. Fri. Last Fri. Sweden (Krona) .1014 .1024 9.8635 9.7679
Avg weekly auction-c 0.05 0.04 2.39 Switzerland (Franc) 1.0291 1.0302 .9717 .9707
4.95 1.15 Argentina (Peso)-y .0148 .0149 67.6778 67.2813 Taiwan (Dollar) .03337 .03350 29.969 29.855
T-Bills Rate CBOE Australia (Dollar) .6414 .6528 1.5591 1.5319
s Thailand (Baht) .03116 .03106 32.090 32.200
13 weeks, Coupon Yield 0.127 0.112 2.414 2.6505 2.6444 .3773 .3782

s
S&P 100 Bahrain (Dinar) Turkey (New Lira)-d .1449 .1411 6.9018 7.0871
13 weeks, Auction Rate 0.125 0.110 2.360 4.10 1.00 Brazil (Real) .1707 .1746 5.8569 5.7270 .0376 .0373 26.6262 26.8383
Ukraine (Hryvnia)
26 weeks, Coupon Yield 0.157 0.132 2.423 Bulgaria (Lev) .5529 .5542 1.8085 1.8045

.
U.K. (Pound) 1.2106 1.2404 .8260 .8062
26 weeks, Auction Rate 0.155 0.130 2.355 Canada (Dollar) .7088 .7181 1.4108 1.3925 Uruguay (Peso) …… .. …… .. …… .. …… ..

ly
Avg weekly auction-c 0.12 0.11 2.38 Chile (Peso) .001208 .001211 827.70 825.80 Financial .02277 .02318 43.920 43.140
3.25 0.85 .1408 .1414 7.1021 7.0741 ----
Broker Call Rate China (Renminbi)
2.00 2.00 4.25 Euro 1.0819 1.0838 .9243 .9227
Colombia (Peso) .0002549 .0002550 3922.70 3921.06
Bankers Acceptances Croatia (Kuna) .1431025 .1434514 6.99 6.97 Special Drawing Rights (SDR) are based on exchange rates for the U.S.,
1 month 0.13 1.50 2.45 2.40 0.70 Czech. Rep. (Koruna) …… .. …… .. …… .. …… .. British, and Japanese currencies. Source: International Monetary Fund.
a-Russian Central Bank rate. b-government rate. d-rebased as of Jan. 1,
2 months 0.15 1.51 2.45 Commercial rate .03905 .03979 25.607 25.129

on
2005. y-floating rate.
3 months 0.20 1.51 2.55 Denmark (Krone) .1451 .1453 6.8897 6.8809
6 months 0.30 1.52 2.63 1.55 0.55 EcuadorUS Dollar 1.0000 1.0000 1.0000 1.0000
Egypt (Pound)-y .0635 .0635 15.7363 15.7482
Euro Libor Rate Hong Kong (Dollar) .1290 .1290 7.7516 7.7520
1 month -0.444 -0.433 -0.414 Hungary (Forint) .003049 .003102 328.00 322.38
3 months -0.263 -0.242 -0.354
0.70 0.40
M J J A S O N D J F M A M Iceland (Krona) .006879 .006839 145.37 146.22 ARMS INDEX

us ,
6 months -0.119 -0.091 -0.315 India (Rupee) .01319 .01324 75.830 75.535
12 months -0.059 -0.040 -0.226 Source: CBOE
Indonesia (Rupiah) .0000673 .0000670 14860 14920

l
The Arms index, also known as the short term trading index, is a number
Israel (Shekel) .2826 .2852 3.5382 3.5067
Libor Interbank Rate derived by dividing one quotient into another quotient. The numerator in

e
Japan (Yen) .009340 .009378 107.06 106.63

al a
1 month 0.17 0.20 2.44 the index is the number of advancing stocks divided by the number of
3 months 0.38 0.43 2.52 INVESTOR SENTIMENT READINGS Kazakhstan (Tenge) .002375 .002370 421.00 421.99
declining stocks. As of 3/14/11, the denominator in the index is now the
Kuwait (Dinar) 3.2362 3.2303 .3090 .3096
6 months 0.66 0.69 2.55 High bullish readings in the Consensus stock index or in the .1253 .1252 7.9811 7.9849 compositevolumeofadvancingstocksdividedbythecompositevolumeof
Macau (Pataca)
12 months 0.76 0.78 2.64 Market Vane stock index usually are signs of Market tops; low

ci on
Malaysia (Ringgit)-b .2298 .2307 4.3517 4.3340 declining stocks.
Foreign Prime Rates ones, market bottoms. Mexico (Peso) …… .. …… .. …… .. …… .. Daily 5/11 5/12 5/13 5/14 5/15
Last 2 Weeks 3 Weeks
Canada 2.45 2.45 3.95 Floating rate .0417 .0422 23.9622 23.6777
Week Ago Ago
Germany 0.00 0.00 0.00 New Zealand (Dollar) .5934 .6136 1.6852 1.6297 NYSE 1.49 1.07 .91 .55 .98
Japan 1.475 1.475 1.475 Consensus Index Norway (Krone) .0977 .0979 10.2343 10.2182 NYSE American .28 .40 .86 .41 .74
Switzerland 0.50 0.50 0.50 Consensus Bullish Sentiment 34% 33% 32% Oman (Rial) 2.5974 2.5968 .3850 .3851 Nasdaq .54 .48 .70 .47 1.17
Britain 0.10 0.10 0.75 Pakistan (Rupee) .00625 .00626 159.950 159.650
Source: Consensus Inc., P.O. Box 520526,Independence, Mo.
Philippines (Peso) .01971 .01980 50.735 50.495

er s
Historical data available at (816) 373-3700. editor@consensus-inc.com
Other Money Rates Poland (Zloty) .2368 .2381 4.2221 4.1990
Fannie Mae Home Loan: AAII Index Qatar (Rial) .2742 .2744 3.6463 3.6447 BARRON'S GOLD MINING INDEX
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

30-Year Fixed Conv 2.20 2.29 3.61 Bullish 23.3% 23.7% 30.6% Russia (Ruble)-a .01359 .01362 73.605 73.400
Bearish 50.6 52.7 44.0 12-Month Year Week %
Bank money market-z
Interest Checking-z
0.15
0.05
0.16
0.05
0.25
0.07
m er
Neutral 26.1 23.7 25.4
Saudi Arabia (Riyal)
Singapore (Dollar)
.2662
.7007
.2661
.7080
3.7568
1.4272
3.7573
1.4124
High Low 5/14 5/7 Ago Chg.
6-Month Certif-z 0.28 0.28 0.68 Source: American Association of Individual Investors, South Africa (Rand) .0538 .0545 18.5862 18.3509 634.30 391.56 Gold mining 626.13 634.30 420.62 –1.29
12-Month Certif-z 0.44 0.45 1.01 625 N. Michigan Ave., Chicago, Ill. 60611 (312) 280-0170.
30 Month Accounts-z 0.49 0.49 1.04 Market Vane
5-Year Certificates-z 0.66 0.67 1.43 Bullish Consensus 32% 32% 32% FEDERAL RESERVE DATA BANK GOLD & SILVER PRICES
m rp
U.S. Savings EE Bonds: Source: Market Vane, P.O. Box 90490,
Long-Term (5yrs+) 0.10 0.10 0.10 Pasadena, CA 91109 (626) 395-7436. Prev. Year Year
c-Annualized yields, adjusted for constant maturity, reported by TIM Group Market Sentiment Member Bank Latest Week Ago Handy & Harman 5/14 5/7 Ago
the Federal Reserve on a weekly average basis. Reserve Chgs. (Mil. $) Week Change Change
Indicator 51.3% 56.0% 48.1% Gold, troy ounce 1731.60 1704.05 1291.70
Sources: Tullett Prebon information, Ltd. Source: TIM Group, 3 Columbus Circle, Suite 1592 One week ended May 13: Silver, troy ounce 15.78 15.27 14.56
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Factset. z-Bankrate.com.
New York, NY 10019 (844) 207-1445. timsupport@timgroup.com U.S. Gov't securities: Base for pricing gold and silver contents of shipments and for
Bought outright 5,672,975 + 67,473 +1,973,178 making refining settlement.
co o

Price Premium Premium


Federal agency secur: Coins $ %
WEEKLY BOND STATISTICS Bought outright 2,347 .... ....
Reserve bank credit: Krugerrand 1816.67 69.87 4.00
Maple Leaf 1834.14 87.34 5.00
F

Last Prev. Yr Ago Last Prev. Yr Ago Primary Credit 24,943 -4,970 + 24,936
Week Week Week Week Week Week Mexican Peso 2114.12 8.00 0.38
Secondary Credit .... .... ....
Austria Crown 1715.21 3.00 0.18
New Offerings, (mil $) (v) Bond Buyer 20 Bond Index (Index of yields of 20 Seasonal Credit 2 + 2 -36
Austria Phil 1834.14 87.34 5.00
Corporate (z) 65,748 r74,412 22,795 general obligation municipal bonds.) Float -181 + 94 + 7 U.S. Eagles 1834.14 87.34 5.00
Municipal (z) 5,862 r7,259 9,628 2.48 2.60 3.57 Other F.R. Assets 41,239 + 3,162 + 11,204
Premium is the amount over the value of the gold content in the
Best Grade Bonds-y (Barron's index of 10 high-grade Total Fed Credit # 6,742,165 + 78,465 +2,891,665 coin. Source Manfra, Tordella & Brookes, Inc.
Bond Buyer Municipal Bond Index (Index of 40 Gold stock 11,041 .... .... Bullion spot gold price 1746.80
corporate bonds.) actively-traded tax-exempt bonds; component issues are SDR Certif. Accounts 5,200 .... ....
2.31 2.23 3.38 changed regularly to keep the index a current picture of the Treas. Curr. Outst. 50,303 + 14 + 402
Interm-Grade Bonds-y (Barron's index of 10 market. Source: The Bond Buyer Total 6,829,207 + 78,324 +2,891,826 GOLD PERFORMANCE
medium-grade corporate bonds.) 3.82 3.85 3.74 Currency in circ 1,925,729 + 9,645 + 194,132
4.52 4.39 4.07 Stock/Bond Yield Gap-s (Difference between yield on Treas. Cash Hldgs 293 -8 -26 Undecided: Job losses and an uncertain
highest-grade corporate bonds and yield on stocks on the DJIA.) Treas. Fed Deposits 1,177,494 + 50,004 + 853,708 economic outlook lifted gold’s price
Confidence Index (High-grade index divided by inter-
n-

Foreign Fed Deposits 16,334 -16 + 11,089


mediate-grade index; decline in latter vs. former generally +.48 +.50 –1.13 Other Fed Deposits 196,282 + 140 + 134,420 1.6% for the week, to $1,732 an ounce.
indicates rising confidence, pointing to higher stocks.) Yield on DJ Equal Weight US Corp Bond Idx: Other FR liab/cap 55,923 -8,982 + 10,523
50

s
Barron's Gold Mining Index (626.13)
51.0 50.8 83.0 Corp Bonds, (y) 2.91 2.92 3.70 Total factors 3,672,278 + 80,333 +1,244,764
Other Confidence Indicators: v-Week ended Thursday. y-Yield to maturity, week ended Thursday.
Reserves F.R. banks 3,156,929 -2,009 +1,647,062 40
no

z-Source: Refinitiv.*Barclays T-Bond Index discontinued by firm. Fgn hold U.S. debt 3,366,532 + 21,139 -102,865
Bloomberg Barclays US Long Treasury*(This
index measures the performance of fixed-rate, nominal US Reserve Aggr (Mil. $ sa) Latest Prev. Wk. % Year 30
Treasuries with at least 10 years to maturity. Jan. 1, 1973=100.) MONEY SUPPLY Two Wks Ended May 6: Wk. Week Chg. Ago
4937.03 4860.19 3647.67 Total Reserves: 3,159,040 3,011,273 4.91 1,538,683 20
Money Supply (Bil. $) Latest Prev. Yr. Ago YOY % Chg
Nonborrowed Res # 3,038,983 2,887,550 5.24 1,538,649
Bloomberg Barclays US Credit (This index Week ended May 4 Required Res ## 0 0 .... 200,063
includes all publicly issued, fixed-rate, non-convertible, invest- M1 (seas. adjusted) 5,008.2 r4,917.9 3,747.6 33.64 Excess Reserves: 3,159,040 3,011,273 4.91 1,338,620 10
ment-grade, dollar-denominated, SEC-registered corporate M1 (not adjusted) 5,061.8 r5,132.9 3,718.1 36.14 s
Borrowed Reserves 120,057 123,723 -2.96 34
debt. All issues have at least one year to maturity and outstand- M2 (seas. adjusted) 17,764.8 17,566.2 14,553.5 22.07
M2 (not adjusted) 17,716.4 r17,496.4 14,532.1 21.91 Free Reserves ### 3,038,983 2,887,550 5.24 1,338,586 Handy & Harman Gold Price
ing par value of at least $250 million. Jan. 1, 1973=0.) (v) Week ended May 6 Monetary Base 5,068,799 4,899,202 3.46 3,203,136 0
3106.38 3108.60 2862.34 M1 Mult. Replacement (St. Louis Fed) 0.999 1.013 1.159 -13.81 # Fed supply of permanent reserves provided.
Ryan Labs Treasury Index (Index of total return from Monthly Money Supply ## Demand for reserves to back deposits.
### Free reserves equal excess reserves minus discount window bor-
-10
active Treasury notes and bonds. Dec. 31, 1996=100.) Month ended April rowings other than extended credit. Free reserves are shorthand method J J A S O N D J F M A M
M1 (seas. adjusted) 4,817.3 4,268.2 3,782.8 27.35 of determining the degree of ease of Fed policy, or when they are negative
337.00 336.12 282.94 M2 (seas. adjusted) 17,176.1 r16,103.7 14,513.2 18.35 net borrowed reserves, tightness.
May 18, 2020 BARRON’S M35

Market Laboratory
STOCK SPLITS/DIVIDENDS WEEK'S DIVIDEND PAYMENT WEEK'S EX-DIVIDEND DATES
Record Ex-Dividend Payment
Company Name-Ticker Symbol (Exchange) Amount Date Date Date This list includes payouts on common stocks. This list includes payouts on common stocks.
Edwards Lifesciences-EW (NYSE)..................................................... 3-for-1 5-18 6-01 5-29 NYSE NYSE
Equitrans Midstream .15
Monday Wednesday Tuesday Reinsurance Grp Amer .70 Switch Cl A .029
SPECIAL DIVIDENDS (May 18) (May 20)
KB Home .09
(May 19)
Snap-On 1.08 TE Connectivity .48
Universal Insurance .16 SunCoke Energy .06 Timken .28
Record Ex-Dividend Payment Archrock .145 Aptargroup .36 Aegon ADR .173
Company Name-Ticker Symbol (Exchange) Amount Date Date Date Cango ADR .23 Brown & Brown .085 Friday Aflac .28
Thomson Reuters .38 Vulcan Materials .34
Credit Suisse Group .071 Caterpillar 1.03 (May 22) WR Grace .30 Wheaton PreciousMetals.10
VirnetX Holding-VHC (NYSE AMER ).................................................... 1.00 5-18 5-15 5-26 Archer Daniels Midland .36
Santander Consumer .22 Employers Holdings .25 Apache Corp
Calif Water Svc Grp
.025
.213 Assured Guaranty .20 Thursday Friday
Systemax .14 MDC Holdings .33 BG Staffing .05 (May 21)
Charles Schwab .18 (May 22)
DIVIDEND PAYMENT REDUCTIONS Tuesday Mueller Water Products .052
CIT Group .35 Delek US Hldgs .31 3M 1.47 Assurant .63

.
NiSource .21
Adjusted % Record Ex-Div Payment (May 19) Citigroup .51 Energizer Holdings .30 Barnes Group .16 Atmos Energy .575
Tenaris ADR .26 China Mobile ADR 1.111
Constellation Brands A .75 First Commonwealth .11 Evergy .505 FGL Holdings .01

ly
Company Name-Ticker Symbol (Exchange) Yield Period To From Decrease Date Date Date Webster Financial .40
Constellation Brands B .68 Lazard .47 Eversource Energy .567 Clipper Realty .095 Johnson & Johnson 1.01
BCE Inc-BCE (NYSE)............................................ 6.1 Q .590467 .600766 -1.7 % 6-15 6-12 7-15 Thursday Lithia Motors Cl A .30
Core Laboratories .01 Jacobs Engineering .19 Cummins 1.311 Nordic American Tankers.14
Brigham Minerals-MNRL (NYSE) ........................ 10.7 Q .37 .38 -2.6 % 5-27 5-26 6-03 Energy Transfer .305 (May 21) Pzena Invt Management .03
Marathon Petroleum .58 Equifax .39 Prudential Financial 1.10
Brookfield Prop Pfd. 2 A-BPYPO (Nasdaq)........... 8.2 Q .39844 .58 -31.3 % 6-01 5-29 6-30 Sterling Bancorp .07
NY Community Bancorp .17 Affiliated Managers .01 Moody's Corp .56 Harley-Davidson .02 Robert Half International .34
Wabtec .12
Chicago Rivet & Machine-CVR (NYSE AMER ) ..... 2.1 Q .10 .22 -54.5 % 6-05 6-04 6-19 Sunoco .826 Armstrong Wrld Ind .20 Rexnord .08 Hawaiian Electric Inds .33
Saturday

on
ClearBridge Engy Mid Opp-EMO (NYSE) ............ 11.5 Q .065 .23 -71.7 % 5-21 5-20 5-29
Waste Connections .185 AZZ .17 Saturday Target .66 Hecla Mining .002
Capital One Fincl .40 (May 23) NONE Hershey .773 (May 23)
Walker & Dunlop .36
ClearBridge MLP & Mid TR-CTR (NYSE) ............. 12.4 Q .08 .22 -63.6 % 5-21 5-20 5-29 DR Horton .175
Sunday Magna Intl .40 NONE
ClearBridge MLP & Midstrm-CEM (NYSE) .......... 11.7 Q .095 .295 -67.8 % 5-21 5-20 5-29 (May 24) NONE
Wednesday MSA Safety .43 Sunday
(May 20) Otis Worldwide .20
European Equity Fd-EEA (NYSE) ........................ 2.1 S .1238 .2246 -44.9 % 5-18 5-15 6-26 (May 24)
CenterPoint Energy .15 Pitney Bowes
Falcon Minerals-FLMN (NCM ) ............................ 19.8 Q .025 .135 -81.5 % 5-25 5-21 6-08 NASDAQ .05
NONE
Discover Finl Svcs .44 Primerica .40

us ,
GasLog-GLOG (NYSE) ......................................... 5.7 Q .05 .15 -66.7 % 5-18 5-15 5-28 Monday First Interstate Banc A .34 First Defiance Financial .22 Griffon .075 SAP ADR 1.712 Monday
GasLog Partners-GLOP (NYSE) .......................... 33.1 Q .125 .561 -77.7 % 5-18 5-15 5-21 Franklin Electric .155 Heidrick & Struggles Intl.15

l
(May 18) Ormat Technologies .11 Schweitzer-Mauduit Intl .44 (May 25)
Heritage Commerce .13 Home Bancorp .22
Goldman Sachs MLP Energy-GER (NYSE) ......... 7.7 Q .155 1.44 -89.2 % 5-22 5-21 5-29 AmeriServ Financial .025 Panhandle Oil & Gas .01 Sherwin-Williams 1.34 NONE

e
al a
Independent Bank Group .25 Hope Bancorp .14
Kentucky First Fed Bncp .10
Goldman Sachs MLP Inc Opp-GMZ (NYSE)........ 7.8 Q .205 1.47 -86.1 % 5-22 5-21 5-29
Matthews Intl Cl A .21
Marlin Business Services.14 JB Hunt Transport .27 NASDAQ
Investcorp Credit Mgmt-ICMB (Nasdaq) ............. 17.5 Q .15 .25 -40.0 % 6-19 6-18 7-10 Northeast Bank .01 Lake Shore Bancorp .12
Kingstone-KINS (NCM )....................................... 3.9 Q .04 .0625 -36.0 % 5-29 5-28 6-15
Peoples Bancorp .34
OP Bancorp .07 Midland States Bancorp.268
Tuesday Littelfuse .48 U.S. Lime & Minerals .16

ci on
Texas Instruments .90
Silicon Motion Tech ADR .35 (May 19)
Microchip Technology .368 Friday
Macq First Tr Global Fund-MFD (NYSE).............. 10.5 Q .20 .25 -20.0 % 5-26 5-22 5-29 Tuesday Opus Bank .11
Microsoft .51
Veritex Holdings .17 Papa John's Intl .225 Atlantic Union Banksh .25 (May 22)
Manhattan Bridge-LOAN (NCM ) ......................... 9.6 Q .10 .11 -9.1 % 7-10 7-09 7-15 (May 19) Wintrust Financial .28 Cognizant TechSolutions .22 Provident Fincl Hldgs .14
CRA International .23
PetMed Express .28
Monroe Capital-MRCC (Nasdaq).......................... 15.0 Q .25 .35 -28.6 % 6-15 6-12 6-30 Carlyle Group .25 WVS Financial .10 Southern Natl Bncp of VA.10 Equinix 2.66 Skyworks Solutions .44
First Hawaiian .26
National Bankshares-NKSH (NCM ).................... 5.0 S .67 .72 -6.9 % 5-25 5-21 6-01 E*TRADE Fincl .14 Zions Bancorp .34 Southside Bancshares .31
Starbucks .41 Fidelity D & D Bancorp .28 Live Oak Bancshares .03
HBT Financial .15
New Senior Invt Group-SNR (NYSE) ................... 11.2 Q .065 .13 -50.0 % 6-05 6-04 6-19 Friday Summit State Bank .12 LeMaitre Vascular .095 Thursday Nordson .38
Norbord-OSB (NYSE)........................................... 3.9 Q .03563 .14974 -76.2 % 6-01 5-29 6-22 Wednesday (May 22) Washington Federal .22 PacWest Bancorp .25 Tractor Supply .35
(May 21)

er s
(May 20) 1st Constitution Bancorp .09 Wayside Technology Grp .17
North Amer Construction-NOA (NYSE) .............. 2.3 Q .028504 .029862 -4.5 % 5-29 5-28 7-03 Entegris .08
Powell Industries .26 Barrett Business Svcs .30 Saturday
American Software Cl A .11 WSFS Financial .12
OFS Capital-OFS (Nasdaq)................................... 16.6 Q .17 .34 -50.0 % 6-23 6-22 6-30 German American Banc .19 Walgreens .458 BGC Partners Cl A .01 (May 23)
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Osisko Gold Royalties-OR (NYSE) ..................... 1.4 Q .0355 .0377 -5.8 % 6-30 6-29 7-15 HomeStreet .15
Artesian Resources Cl A .25 Saturday Xperi .20 CDW Corp. .38 NONE
BankFinancial .10
Pembina Pipeline-PBA (NYSE)............................ 7.7 M
m er
.149307 .152858 -2.3 % 5-25 5-21 6-15 Lakeland Bancorp .125
Sandy Spring Bancorp .30
BCB Bancorp .14
(May 23)
NONE
Wednesday Cogent Communications .68
Sunday
PPLUS FR Call Ser GSC-2-PYT (NYSE)............... 3.6 Q .18125 .192186 -5.7 % 5-14 5-13 5-15 Bio-Techne .32 (May 20) Core-Mark Holding .12
TD Ameritrade Holding .31
Boston Private Financial .12 Sunday Flir Systems .17
(May 24)
Preferred Apt Cmnts-APTS (NYSE)..................... 10.4 Q .175 .2625 -33.3 % 6-15 6-12 7-15 West Bancorp .21
Adtran .09
NONE
Colony Bankcorp .10 (May 24) Allied Motion Techs .03 Forward Air .18
ProAssurance-PRA (NYSE) ................................ 1.5 Q .05 .31 -83.9 % 6-11 6-10 7-08 Thursday First Bank .03 NONE
Applied Materials .22 Healthcare Services Grp.203 Monday
Salient Midstream & MLP-SMM (NYSE).............. 6.1 Q .06 .171 -64.9 % 5-18 5-15 5-28
m rp
(May 21) First Community Bncsh .25
Extended Stay America .01 MGP Ingredients .12 (May 25)
Sapiens Intl-SPNS (NCM ) ................................... 1.5 O .14 .984412 -85.8 % 5-27 5-26 6-10 Diamondback Energy .375
HomeTrust Bancshares .07 Spok Holdings .125 NONE
Scorpio Bulkers-SALT (NYSE) ............................ 1.4 Q .05 .20 -75.0 % 6-15 6-12 6-30
NYSE American
Taiwan Semiconductor ADR-TSM (NYSE) ......... 2.5 Q .3304 .4171 -20.8 % 9-18 9-17 10-15
Tortoise Pipeline & Engy-TTP (NYSE) ................ 4.6 O .16 4.56 -96.5 % 5-22 5-21 5-29 Monday Wednesday Friday NYSE American
(May 22)
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Vodafone Group ADR-VOD (Nasdaq) .................. 6.5 S .4746 .496157 -4.3 % 6-12 6-11 7-08 (May 18) (May 20)
Friedman Industries .02
Tuesday Thursday Saturday
Seaboard 2.25 NONE
Wyndham Hotels & Resorts-WH (NYSE) ............ 0.8 Q .08 .32 -75.0 % 6-15 6-12 6-30 (May 19) (May 21) (May 23) NONE
Tompkins Financial .52 Saturday Sunday
co o

Thursday NONE Park National 1.02


Tuesday (May 21)
(May 23) NONE
Wednesday Friday (May 24) NONE
DIVIDEND PAYMENT BOOSTS (May 19) NONE Sunday (May 20) (May 22) Monday
NONE (May 24) NONE NONE NONE (May 25) NONE
F

Adjusted % Record Ex-Div Payment


Company Name-Ticker Symbol (Exchange) Yield Period To From Increase Date Date Date
Algonquin Power-AQN (NYSE)............................... 4.7 Q .1551 .141 10.0 6-30 6-29 7-15 TRADING SUSPENDED NEW LISTINGS
Brookfield Infrastructure-BIP (NYSE) .................. 5.0 Q .485 .484365 0.1 5-29 5-28 6-30
NYSE NYSE
Cardinal Health-CAH (NYSE) .................................. 4.0 Q .4859 .4811 1.0 7-01 6-30 7-15
Chesapeake Utilities-CPK (NYSE) ......................... 2.1 Q .44 .405 8.6 6-15 6-12 7-06 Allergan (AGN) ADC Therapeutics (ADCT)
CNO Financial Group-CNO (NYSE) ....................... 3.9 Q .12 .11 9.1 6-10 6-09 6-24 Avianca Holdings (AVH) Jaws Acquisition (JWSU)
DWS Muni Income Trust-KTF (NYSE).................... 4.6 M .04 .0325 23.1 5-18 5-15 5-29 Stage Stores (SSI) NYSE American
DWS Strat Mun Income Tr-KSM (NYSE) ............... 5.2 M .0425 .035 21.4 5-18 5-15 5-29 NYSE American None
Equinor ADR-EQNR (NYSE) .................................... 6.3 Q .27 .26 3.8 5-18 5-15 5-29 Continental Materials (CUO) Nasdaq
GDL Fund-GDL (NYSE) ............................................ 5.9 Q .12 .10 20.0 6-16 6-15 6-23 Nasdaq Novus Capital (NOVSU)
Glatfelter-GLT (NYSE) .............................................. 3.9 Q .135 .13 3.8 7-03 7-01 8-01
n-

Emmis Communications (EMMS)


ICL Group-ICL (NYSE).............................................. 4.8 Q .023 .018 27.8 6-03 6-02 6-17
Pope Resources (POPE) ADJUSTABLE MORTGAGE BASE RATES
Materion-MTRN (NYSE) ........................................... 0.9 Q .115 .11 4.5 5-29 5-28 6-10
Microchip Technology-MCHP (Nasdaq) ............... 1.8 Q .3675 .367 0.1 5-21 5-20 6-04 YOY
MSA Safety-MSA (NYSE) ......................................... 1.5 Q .43 .42 2.4 5-22 5-21 6-10
NAME CHANGES
May 15 May 8 Yr. Ago % Chg
no

NACCO Industries Cl A-NC (NYSE)....................... 2.9 Q .1925 .19 1.3 5-29 5-28 6-15 NYSE
New Germany Fund-GF (NYSE) ............................. 1.1 S .3405 .2036 67.2 5-18 5-15 6-26 1 Year Treas Bills 0.16 0.17 2.37 -93.25
Arch Resources (ARCH), formerly Arch Coal
Priority Income Pfd. B-PRIFpB (NYSE) .................. 6.7 Q .39063 .390625 0.0 6-15 6-12 6-30 2 Year Treas Notes 0.17 0.21 2.28 -92.54
Clarivate (CCC), formerly Clarivate Analytics
RLI Corp-RLI (NYSE) ................................................ 1.4 Q .24 .23 4.3 5-29 5-28 6-19 3 Year Treas Notes 0.22 0.26 2.24 -90.18
NYSE American
TC Energy-TRP (NYSE)............................................ 5.2 Q .577787 .566744 1.9 6-30 6-29 7-31 5 Year Treas Notes 0.34 0.37 2.27 -85.02
CTO Realty Growth (CTO), formerly Consolidated-Tomoka
Land 10 Year Treas Notes 0.67 0.64 2.47 -72.87
Top 5 Insider Purchases by Company in 2020
Nasdaq 20 Year Treas Bds 1.09 1.03 2.70 -59.63
Number of Number of Avg.
Company Symbol Insiders Shares $ Value Price
Broadwind (BWEN), formerly Broadwind Energy 11th District % Mar 0.884 0.884 0.958 -7.72
York Water ...................................................... YORW 16 813 35,786 $ 44.02 Orbital Energy Group (OEG), formerly CUI Global (CUI) FHFA PMMS+ 3.46 3.46 .... ....
Simply Good Foods ....................................... SMPL 14 339,012 6,409,391 $ 18.91 Protara Therapeutics (TARA), formerly ArTara Therapeutics Fed annualized yields adjusted for constant maturity. FHFA
Darden Restaurants ....................................... DRI 13 79,308 4,714,878 $ 59.45 PMMS+ is the Federal Housing Finance Agency's adjusted version
Bunge ............................................................. BG 11 227,930 9,983,125 $ 43.80 Scienjoy Holding (SJ), formerly Wealthbridge Acquisition
of Freddie Mac's 30-yr FRM Primary Mortgage Market Survey. This
Cit ................................................................... CIT 11 113,429 1,637,235 $ 14.43 (HHHH) Index replaces the discontinued FHFA Contract Rate.
X W L C 10 11 12 H G R P 4 8 3 F A M 6 7 9 0 I
M36 BARRON’S May 18, 2020

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ATT STREAMING LIVE
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