For investors looking for momentum, First Trust Nasdaq Pharmaceuticals ETF (FTXH - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 53.7% from its 52-week low price of $16.28/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
FTXH in Focus
The fund seeks investment results that correspond generally to the price and yield, before fees and expenses, of the Nasdaq US Smart Pharmaceuticals Index. It has AUM of $15.5 million and charges expense ratio of 60 basis points.
Why the Move?
The coronavirus outbreak continues to aggravate in the United States and globally. In fact, the United Kingdom is seeing a rise in infections and the government is considering another national lockdown to control the situation, per a CNBC article. In such a scenario, all eyes are on the progress in the development of a coronavirus vaccine, treatment or test. Along with positive developments in coronavirus vaccine and antibodies, there have been news of mergers and acquisitions in the sector as well. This is making funds like FTXH an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 14.90, which gives cues of further rally.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors looking for momentum, First Trust Nasdaq Pharmaceuticals ETF (FTXH - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 53.7% from its 52-week low price of $16.28/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
FTXH in Focus
The fund seeks investment results that correspond generally to the price and yield, before fees and expenses, of the Nasdaq US Smart Pharmaceuticals Index. It has AUM of $15.5 million and charges expense ratio of 60 basis points.
Why the Move?
The coronavirus outbreak continues to aggravate in the United States and globally. In fact, the United Kingdom is seeing a rise in infections and the government is considering another national lockdown to control the situation, per a CNBC article. In such a scenario, all eyes are on the progress in the development of a coronavirus vaccine, treatment or test. Along with positive developments in coronavirus vaccine and antibodies, there have been news of mergers and acquisitions in the sector as well. This is making funds like FTXH an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 14.90, 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>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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