The PowerShares Dynamic Media (NYSEARCA:PBS) ETF closed at a all-time high again in a quiet pre-holiday session and shows no signs of slowing down. PBS made numerous new highs in 2013 and returned an excellent 44.69% year-to-date gain (source: Morningstar). The top holdings of PBS include both Internet (Yahoo and Google) and traditional broadcasting (CBS, Discovery Communications and Time Warner) companies.
The chart of PBS shows that the bullish trend (see blue line) stayed intact throughout the year. The RSI indicator is not in overbought territory and there is no overhead resistance in sight. With the technical indicators being so bullish, buying PBS can be a good choice for investors looking to diversify with media stocks.