For investors seeking momentum, ELEMENTS Dogs Of The Dow Linked To The Dow Jones High Yield Select 10 Total Return Index is probably on radar now. The note just hit a 52-week high and is up more than 57% from its 52-week low price of $18.42/share.
But are more gains in store for this ETN? Let’s take a quick look at the product and the near-term outlook on it to get a better idea on where it might be headed:
DOD in Focus
This is an ETN option and provides investors pure play to the 10 highest dividend-yielding securities in Dow Jones Industrial Average in equal proportions. It charges investors 75 bps in annual fees (see: all the Large Cap ETFs here).
Why the Move?
Since the Dow Jones index hit a 25,000-mark on Jan 4, the product soared higher. Strong manufacturing data, an oil price recovery, uptick in the global economic growth and a Trump bump led to this surge.
More Gains Ahead?
The ETN has a positive weighted alpha of 70.20. A positive weighted alpha hints at more gains. As a result, there is definitely some promise for investors who want to ride on this surging product.
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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, ELEMENTS Dogs Of The Dow Linked To The Dow Jones High Yield Select 10 Total Return Index is probably on radar now. The note just hit a 52-week high and is up more than 57% from its 52-week low price of $18.42/share.
But are more gains in store for this ETN? Let’s take a quick look at the product and the near-term outlook on it to get a better idea on where it might be headed:
DOD in Focus
This is an ETN option and provides investors pure play to the 10 highest dividend-yielding securities in Dow Jones Industrial Average in equal proportions. It charges investors 75 bps in annual fees (see: all the Large Cap ETFs here).
Why the Move?
Since the Dow Jones index hit a 25,000-mark on Jan 4, the product soared higher. Strong manufacturing data, an oil price recovery, uptick in the global economic growth and a Trump bump led to this surge.
More Gains Ahead?
The ETN has a positive weighted alpha of 70.20. A positive weighted alpha hints at more gains. As a result, there is definitely some promise for investors who want to ride on this surging product.
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 >>