For investors looking for momentum, ProShares Long Online/Short Stores ETF (CLIX - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 97.5% from its 52-week low price of $47.95/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
CLIX in Focus
This ETF seeks investment results, before fees and expenses, that correspond to the performance of the ProShares Long Online/Short Stores Index. It has AUM of $239.6 million and charges 65 basis points (bps) in annual fees.
Why the Move?
The coronavirus outbreak continues to aggravate in the United States and globally. In order to contain the spread of the virus, governments across the globe are once again shutting down economic activities and imposing social-distancing measures. In the current scenario, consumers are opting for online retailers to purchase food items and other goods. Keeping up with the digitization trend, the U.S. holiday season is expected to see a significant surge in online sales. This is making funds like CLIX an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 88.74, 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.
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For investors looking for momentum, ProShares Long Online/Short Stores ETF (CLIX - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 97.5% from its 52-week low price of $47.95/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
CLIX in Focus
This ETF seeks investment results, before fees and expenses, that correspond to the performance of the ProShares Long Online/Short Stores Index. It has AUM of $239.6 million and charges 65 basis points (bps) in annual fees.
Why the Move?
The coronavirus outbreak continues to aggravate in the United States and globally. In order to contain the spread of the virus, governments across the globe are once again shutting down economic activities and imposing social-distancing measures. In the current scenario, consumers are opting for online retailers to purchase food items and other goods. Keeping up with the digitization trend, the U.S. holiday season is expected to see a significant surge in online sales. This is making funds like CLIX an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 88.74, 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 >>