For buyers looking for momentum, Invesco S&P 500 Prime 50 ETF XLG might be on radar. The fund simply hit a 52-week excessive, and is up about 39% from its 52-week low value of $230.19/share.
However are extra positive aspects in retailer for this ETF? Let’s take a fast take a look at the fund and the near-term outlook on it to get a greater concept on the place it may be headed:
XLG in Focus
This fund provides publicity to mega-cap securities with key holdings in info expertise, communication companies, healthcare and client discretionary. The product fees buyers 20 foundation factors in charges (see: all of the Giant Cap ETF Mix right here).
Why the Transfer?
The mega-cap area of the broad U.S. inventory market has been an space to look at these days given the skyrocketing inventory market. Inflation fears have subsided and the financial system is witnessing a speedy restoration with tens of millions of Individuals totally vaccinated and pandemic restrictions being rolled again. Moreover, the bouts of newest information are bolstering buyers’ confidence, driving the shares larger.
Extra Features Forward?
At present, XLG has a Zacks ETF Rank #2 (Purchase) with a Medium threat outlook, suggesting continued outperformance within the months forward. Additional, most of the segments that make up this ETF have a powerful Zacks Trade Rank. So, there may be positively some promise for individuals who wish to experience this surging ETF slightly additional.
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Invesco S&P 500 Prime 50 ETF (XLG): ETF Analysis Experiences
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.