Investors seeking momentum may have PowerShares DB Energy Fund (DBE - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of DBE are up approximately 33.5% from their 52-week low of $10.78/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.
DBE in Focus
DBE focuses on providing exposure to the energy sector. From a sector look, it has top exposure to Gasoline, Brent crude and NY Harbor ULSD, with 24.7%, 23.0% and 22.3% exposure, respectively. It charges 78 basis points in fees per year and has AUM of $179.1 million (see all Energy ETFs here).
Why the Move?
Recently, oil prices seem to have regained stability, as it touched a six-week high. Increased geopolitical risks have contributed to the gains. Saudi Arabia Prince Mohammed bin Salman looked to tighten his grip on power by ordering a crackdown with arrests of royals, ministers and investors. Moreover, tensions with Iran increased as a missile was fired toward Riyadh last weekend. OPEC is also widely expected to extend production cuts and a huge reduction in U.S. oil drilling provided support to prices.
More Gains Ahead?
Currently, DBE has a weighted alpha of 28.8. So, there is a promising 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 PowerShares DB Energy Fund (DBE - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of DBE are up approximately 33.5% from their 52-week low of $10.78/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.
DBE in Focus
DBE focuses on providing exposure to the energy sector. From a sector look, it has top exposure to Gasoline, Brent crude and NY Harbor ULSD, with 24.7%, 23.0% and 22.3% exposure, respectively. It charges 78 basis points in fees per year and has AUM of $179.1 million (see all Energy ETFs here).
Why the Move?
Recently, oil prices seem to have regained stability, as it touched a six-week high. Increased geopolitical risks have contributed to the gains. Saudi Arabia Prince Mohammed bin Salman looked to tighten his grip on power by ordering a crackdown with arrests of royals, ministers and investors. Moreover, tensions with Iran increased as a missile was fired toward Riyadh last weekend. OPEC is also widely expected to extend production cuts and a huge reduction in U.S. oil drilling provided support to prices.
More Gains Ahead?
Currently, DBE has a weighted alpha of 28.8. So, there is a promising 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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