FLCC Volume Surges as Apple, Amazon Headlines Stir Tech ETF

Federated Hermes MDT Large Cap Core ETF (FLCC) has seen unusual trading volume, which is 22× higher than its average daily volume.

The ETF’s top holdings are in mega-cap tech, and several saw notable developments, led by Apple, Alphabet, Nvidia, Microsoft, and Amazon. Apple’s 20% stake in Globalstar has become a key hurdle for Amazon’s reported $9 billion bid for the satellite operator, a deal meant to speed up Amazon’s Leo satellite internet rollout and challenge SpaceX. Alphabet drew fresh bullish analyst coverage with new Buy ratings and higher price targets, while Microsoft launched aggressively priced in-house AI models that directly compete with Google and OpenAI and continued to face scrutiny over heavy AI spending even as analysts reiterated Strong Buy views. Nvidia featured in multiple stories as AMD gained GPU share in gaming, U.S. export-control risks around Nvidia-powered servers surfaced via an indictment involving Super Micro, and Wall Street highlighted Nvidia and Micron as central to S&P 500 earnings growth. Broadcom, another key AI chip play in the fund, was downgraded to Hold by a top analyst on concerns near-term upside may be limited after strong gains, and GE Vernova’s price target was raised sharply by Barclays, underscoring its positioning as a beneficiary of large-scale energy and AI infrastructure buildouts. AbbVie continued to attract mixed but generally constructive analyst commentary focused on its ability to offset Humira erosion with newer immunology drugs and aesthetics, while Costco appeared indirectly as a potential beneficiary of member dissatisfaction with Sam’s Club’s upcoming fee hike, which could drive some warehouse shoppers to rival clubs like Costco. Amazon stayed in focus both for the Globalstar deal talks and for reports that one of its AWS data centers in Bahrain was hit by an Iranian drone strike, underlining rising geopolitical risks to U.S. tech infrastructure in the Middle East even as analysts remained broadly bullish on the stock.