For investors looking for momentum, S&P 600 Small Cap Growth ETF (SLYG - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 63.6% from its 52-week low price of $56.21/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
SLYG in Focus
The fund seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of The S&P SmallCap 600 Growth Index. It has AUM of $2.40 billion and charges 15 basis points in annual fees.
Why the Move?
The Wall Street rally marked by the S&P 500 index hitting new highs is putting attention to growth investing.The second-quarter earnings season saw better-than-expected results, stimulating the rally in stock markets. Investors are also relieved about the Fed’s intention to not hike interest rates in the near term. The FDA granting the first full U.S. approval to Pfizer (PFE)/BioNTech’s (BNTX) coronavirus vaccine, Comirnaty (BNT162b), has also boosted investors’ confidence in some reopening bets like airlines, travel and leisure and casino players. With growth stocks tending to outperform in a trending market (i.e. a market characterized by a prolonged uptrend), these factors are making funds like SLYG more attractive.
More Gains Ahead?
The fund has a Zacks ETF Rank #2 (Buy). It seems like it will remain strong, with a positive weighted alpha of 44.86, which gives cues of further rally.
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, S&P 600 Small Cap Growth ETF (SLYG - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 63.6% from its 52-week low price of $56.21/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
SLYG in Focus
The fund seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of The S&P SmallCap 600 Growth Index. It has AUM of $2.40 billion and charges 15 basis points in annual fees.
Why the Move?
The Wall Street rally marked by the S&P 500 index hitting new highs is putting attention to growth investing.The second-quarter earnings season saw better-than-expected results, stimulating the rally in stock markets. Investors are also relieved about the Fed’s intention to not hike interest rates in the near term. The FDA granting the first full U.S. approval to Pfizer (PFE)/BioNTech’s (BNTX) coronavirus vaccine, Comirnaty (BNT162b), has also boosted investors’ confidence in some reopening bets like airlines, travel and leisure and casino players. With growth stocks tending to outperform in a trending market (i.e. a market characterized by a prolonged uptrend), these factors are making funds like SLYG more attractive.
More Gains Ahead?
The fund has a Zacks ETF Rank #2 (Buy). It seems like it will remain strong, with a positive weighted alpha of 44.86, which gives cues of further rally.
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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