TDIV - Tech dividend ETF holds up despite drop in IBM

First Trust NASDAQ Technology Dividend Index Fund ( NASDAQ: TDIV ) is the market’s exchange traded fund with the largest weighting towards International Business Machines Corporation ( IBM ) and it remains in positive territory even as IBM sinks.

TDIV with its $1.65B assets under management, 92 holdings and 0.50% expense ratio is a dividend tech-based fund that has traded higher on Tuesday by 1.4% .

TDIV’s top holding is in IBM at 8.73%, which is the largest holding of IBM by any other ETF on the market. TDIV has been able to remain positive even as IBM has declined 6.7% after the firm announced its Q2 results.

While TDIV has gained ground on Tuesday’s session the fund still trades lower over the course of 2022. Year-to-date TDIV is -19.3% but is +1.5% over the past month.

IBM on the year is -3.5% and -6% over the past month.

Shares of IBM trade lower as the organization delivered stronger-than-anticipated results, but stated that its full-year free cash flow would be lower than thought and concerns over guidance weighed doubt on investors' minds.

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