Investors seeking momentum may have First Trust NASDAQ Bank ETF (FTXO - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of FTXO are up approximately 150.1% from their 52-week low of $13.37/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
FTXO in Focus
The underlying Nasdaq US Smart Banks Index is a modified factor weighted index, designed to provide exposure to US companies within the banking industry. The expense ratio is 0.60% (see all Financials ETFs here).
Why the Move?
The banking sector has been gaining attention lately thanks to the steepening of the yield curve. U.S. benchmark treasury yield was 1.71% on Mar 18, 2021, up 8 bps noted on Mar 17, 2021. This explains the jump in banking ETFs like FTXO. Biden’s fiscal stimulus and wider coverage of vaccination has basically boosted cyclical and value segments like banking in the recent past.
More Gains Ahead?
The fund has a Zacks ETF Rank #2 (Buy). The fund has a positive weighted alpha of 123.30. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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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 >>
Investors seeking momentum may have First Trust NASDAQ Bank ETF (FTXO - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of FTXO are up approximately 150.1% from their 52-week low of $13.37/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
FTXO in Focus
The underlying Nasdaq US Smart Banks Index is a modified factor weighted index, designed to provide exposure to US companies within the banking industry. The expense ratio is 0.60% (see all Financials ETFs here).
Why the Move?
The banking sector has been gaining attention lately thanks to the steepening of the yield curve. U.S. benchmark treasury yield was 1.71% on Mar 18, 2021, up 8 bps noted on Mar 17, 2021. This explains the jump in banking ETFs like FTXO. Biden’s fiscal stimulus and wider coverage of vaccination has basically boosted cyclical and value segments like banking in the recent past.
More Gains Ahead?
The fund has a Zacks ETF Rank #2 (Buy). The fund has a positive weighted alpha of 123.30. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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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