For investors seeking momentum, First Trust S&P REIT ETF (FRI - Free Report) is probably on radar. The fund just hit a 52-week high, and is up 35.7% from its 52-week low price of $20.13 per 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:
FRI in Focus
The underlying S&P United States REIT Index measures the investable US real estate investment trust market and maintains a constituency that reflects the overall composition of the market. All securities added to the Index must meet liquidity and market capitalization requirements. It charges investors 50 basis points a year in fees (see: all Real Estate ETFs here).
Why the Move?
The real estate corner of the broad market has been an area to watch lately given the Fed’s accommodative stance and pullback in rising yields. This has returned the lure for rate-sensitive sectors. Rising reopening trade amid falling virus cases is another factor for the real estate rally.
More Gains Ahead?
The fund has a positive weighted alpha of 35.59. 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 >>
For investors seeking momentum, First Trust S&P REIT ETF (FRI - Free Report) is probably on radar. The fund just hit a 52-week high, and is up 35.7% from its 52-week low price of $20.13 per 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:
FRI in Focus
The underlying S&P United States REIT Index measures the investable US real estate investment trust market and maintains a constituency that reflects the overall composition of the market. All securities added to the Index must meet liquidity and market capitalization requirements. It charges investors 50 basis points a year in fees (see: all Real Estate ETFs here).
Why the Move?
The real estate corner of the broad market has been an area to watch lately given the Fed’s accommodative stance and pullback in rising yields. This has returned the lure for rate-sensitive sectors. Rising reopening trade amid falling virus cases is another factor for the real estate rally.
More Gains Ahead?
The fund has a positive weighted alpha of 35.59. 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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