For traders in search of momentum, ProShares Lengthy On-line/Quick Shops ETF CLIX might be an accep
For traders in search of momentum, ProShares Lengthy On-line/Quick Shops ETF CLIX might be an acceptable choose. The fund simply hit a 52-week excessive and is up 97.5% from its 52-week low worth of $47.95/share.
Let’s check out the fund and its near-term outlook to achieve an perception into the place it may be headed:
CLIX in Focus
This ETF seeks funding outcomes, earlier than charges and bills, that correspond to the efficiency of the ProShares Lengthy On-line/Quick Shops Index. It has AUM of $239.6 million and fees 65 foundation factors (bps) in annual charges.
Why the Transfer?
The coronavirus outbreak continues to irritate in the US and globally. To be able to include the unfold of the virus, governments throughout the globe are as soon as once more shutting down financial actions and imposing social-distancing measures. Within the present state of affairs, shoppers are choosing on-line retailers to buy meals gadgets and different items. Maintaining with the digitization pattern, the U.S. vacation season is anticipated to see a major surge in on-line gross sales. That is making funds like CLIX a horny funding possibility.
Extra Positive factors Forward?
It looks like the fund will stay robust, with a optimistic weighted alpha of 88.74, which provides cues of additional rally.
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ProShares Lengthy OnlineShort Shops ETF (CLIX): ETF Analysis Stories
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.