For investors seeking momentum, ETFMG Prime Cyber Security ETF (HACK - Free Report) is probably on radar. The fund just hit a 52-week high and is up 98% from its 52-week low price of $29.02/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
HACK in Focus
The fund provides global exposure to the cyber security industry comprising companies that offer hardware, software, consulting and services to defend against cybercrime. It tracks the Prime Cyber Defense Index. The ETF charges investors 60 bps in annual fees (see: all the Technology ETFs here).
Why the Move?
The cyber security corner of the technology sector has been an area to watch lately given the recent SolarWinds software hack, which has impacted a number of U.S. companies and government agencies. The massive cyber attack has raised the demand for security-related purchases by both companies and governments, which in turn will boost spending in the space.
More Gains Ahead?
It seems that HACK might remain strong given a high weighted alpha of 47.30 and a low 20-day volatility of 18.35%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.
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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 seeking momentum, ETFMG Prime Cyber Security ETF (HACK - Free Report) is probably on radar. The fund just hit a 52-week high and is up 98% from its 52-week low price of $29.02/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
HACK in Focus
The fund provides global exposure to the cyber security industry comprising companies that offer hardware, software, consulting and services to defend against cybercrime. It tracks the Prime Cyber Defense Index. The ETF charges investors 60 bps in annual fees (see: all the Technology ETFs here).
Why the Move?
The cyber security corner of the technology sector has been an area to watch lately given the recent SolarWinds software hack, which has impacted a number of U.S. companies and government agencies. The massive cyber attack has raised the demand for security-related purchases by both companies and governments, which in turn will boost spending in the space.
More Gains Ahead?
It seems that HACK might remain strong given a high weighted alpha of 47.30 and a low 20-day volatility of 18.35%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.
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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