Investors looking for momentum can opt for Recon Capital DAX Germany ETF (DAX - Free Report) now. The fund hit a 52-week high recently. Shares of DAX are up roughly 38.03% from their 52-week low of $21.51/share.
Could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea of where it might be headed.
DAX in Focus
DAX focuses on providing exposure to the German equity markets. It charges 45 basis points in fees per year. Consumer Cyclical, Healthcare, and Financial Services are the top three sectors of the fund, with 20.11%, 18.16%, and 17.74% allocation, respectively (as of June 5, 2017). It has top holdings in Bayer AG, Siemens AG, and SAP SE with 9.58%, 9.56%, and 8.71% allocation, respectively (as of June 5, 2017) (see all European Equity ETFs here).
The fund has AUM of $13.43 million and trades in average volumes of 3,900 shares a day.
Why the Move?
The move can primarily be attributed to the positive Purchasing Managers Index (PMI) data of Germany. German Manufacturing PMI rose to 59.5 in May 2017 from April's 58.2 and German Services PMI remained unchanged at 55.4. The composite PMI rose to 57.4 in May from 56.7 in April. Moreover, strong trade performance has also led to gains in the fund.
More Gains Ahead?
Currently, DAX has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook. It has a moderate 14-day volatility of 12.74% and an impressive weighted alpha of 29.80. 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 >>
Investors looking for momentum can opt for Recon Capital DAX Germany ETF (DAX - Free Report) now. The fund hit a 52-week high recently. Shares of DAX are up roughly 38.03% from their 52-week low of $21.51/share.
Could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea of where it might be headed.
DAX in Focus
DAX focuses on providing exposure to the German equity markets. It charges 45 basis points in fees per year. Consumer Cyclical, Healthcare, and Financial Services are the top three sectors of the fund, with 20.11%, 18.16%, and 17.74% allocation, respectively (as of June 5, 2017). It has top holdings in Bayer AG, Siemens AG, and SAP SE with 9.58%, 9.56%, and 8.71% allocation, respectively (as of June 5, 2017) (see all European Equity ETFs here).
The fund has AUM of $13.43 million and trades in average volumes of 3,900 shares a day.
Why the Move?
The move can primarily be attributed to the positive Purchasing Managers Index (PMI) data of Germany. German Manufacturing PMI rose to 59.5 in May 2017 from April's 58.2 and German Services PMI remained unchanged at 55.4. The composite PMI rose to 57.4 in May from 56.7 in April. Moreover, strong trade performance has also led to gains in the fund.
More Gains Ahead?
Currently, DAX has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook. It has a moderate 14-day volatility of 12.74% and an impressive weighted alpha of 29.80. 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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