For investors seeking momentum, PowerShares S&P SmallCap Information Technology ETF (PSCT - Free Report) is probably on radar now. The fund just hit a 52-week high, which is up roughly 1.3% from its 52-week low price of $60.69/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.
PSCT in Focus
PSCT focuses on the technology segment of the U.S. market, holding 98 stocks in its basket. It is a small cap centric fund with key holdings in the electronic equipment, semiconductors and software segments. The fund charges investors 29 basis points a year in fees and has top holdings in Take-Two Interactive Software, Cirrus Logic and Blackbaud (see: all the Technology ETFs here).
Why the Move?
The technology sector has been an area to watch lately given the better-than-expected second quarter earnings results. Moreover, being an economic sensitive sector, renewed momentum in the U.S. economy also had a positive impact. Moreover, a rise in speculations about a sooner-than-expected interest rate hike is likely to have a lesser impact on the sector due to huge cash piles on their balance sheets.
More Gains Ahead?
Currently, PSCT has a Zacks ETF Rank #2 (Buy) with a High risk outlook, suggesting outperformance in the months ahead. In addition to a positive weighted alpha of 15.58, many of the segments that make up this ETF have a strong Zacks Industry Rank. So there is definitely some promise for those who want to ride this surging ETF a little 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, PowerShares S&P SmallCap Information Technology ETF (PSCT - Free Report) is probably on radar now. The fund just hit a 52-week high, which is up roughly 1.3% from its 52-week low price of $60.69/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.
PSCT in Focus
PSCT focuses on the technology segment of the U.S. market, holding 98 stocks in its basket. It is a small cap centric fund with key holdings in the electronic equipment, semiconductors and software segments. The fund charges investors 29 basis points a year in fees and has top holdings in Take-Two Interactive Software, Cirrus Logic and Blackbaud (see: all the Technology ETFs here).
Why the Move?
The technology sector has been an area to watch lately given the better-than-expected second quarter earnings results. Moreover, being an economic sensitive sector, renewed momentum in the U.S. economy also had a positive impact. Moreover, a rise in speculations about a sooner-than-expected interest rate hike is likely to have a lesser impact on the sector due to huge cash piles on their balance sheets.
More Gains Ahead?
Currently, PSCT has a Zacks ETF Rank #2 (Buy) with a High risk outlook, suggesting outperformance in the months ahead. In addition to a positive weighted alpha of 15.58, many of the segments that make up this ETF have a strong Zacks Industry Rank. So there is definitely some promise for those who want to ride this surging ETF a little 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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