S&P 500 Growth ETF (IVW) Hits a New 52-Week High

This story originally appeared on Zacks

For investors looking for momentum, iShares S&P 500 Growth ETF IVW is probably a suitable pick. The fund just hit a 52-week high and is up 38.7% from its 52-week low price of $59.97/share.

– Zacks

Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

IVW in Focus

iShares S&P 500 Growth ETF seeks to track the investment results of an index composed of large-capitalization U.S. equities that exhibit growth characteristics. It has AUM of $38.89 billion and charges 18 basis points in annual fees.

Why the Move?

Wall Street has been loudly cheering the third-quarter earnings season. There have also been certain upbeat economic data releases that have raised investor optimism. The coronavirus vaccine rollout is gradually helping control the spread of the outbreak across the globe. Accordingly, the global demand and economic growth levels are on the path of recovery from the pandemic-led slump. Investors have rotated back into growth-oriented market areas in recent weeks on optimism surrounding the economic recovery. These factors are making funds like IVW more attractive.

More Gains Ahead?

The fund has a Zacks ETF Rank #2 (Buy). It seems like it will remain strong, with a positive weighted alpha of 37.97, which gives cues of further rally.

Want key ETF info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.

Get it free >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
iShares S&P 500 Growth ETF (IVW): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research

Source link

Leave a Reply

Your email address will not be published.

Main Menu