Investors seeking momentum may have ProShares K-1 Free Crude Oil Strategy ETF (OILK - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of OILK are up approximately 51.4% from its 52-week low of $16.51/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.
OILK in Focus
OILK focuses on providing exposure to the price movement of WTI Crude oil, the most popular benchmark for crude oil. This fund invests in listed crude oil futures contracts. OILK charges 65 basis points in fee per year and has AUM of $9.9 million (see all Energy ETFs here).
Why the Move?
WTI crude prices are breaking records. Increased geopolitical tensions seem to be the driving force for the increase. Reports of Iranian backed Houthis in Yemen firing missiles toward Saudi Arabia led to increased unrest in the region. Adding to this, Saudi-led forces killed a senior leader of the rebel group. Although Saudi Arabia has successfully intercepted these missiles till now, the markets are concerned about the consequences to the oil supply if a missile hits.
More Gains Ahead?
OILK has a weighted alpha of 34.50. So, there is a promising outlook 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 >>
Investors seeking momentum may have ProShares K-1 Free Crude Oil Strategy ETF (OILK - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of OILK are up approximately 51.4% from its 52-week low of $16.51/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.
OILK in Focus
OILK focuses on providing exposure to the price movement of WTI Crude oil, the most popular benchmark for crude oil. This fund invests in listed crude oil futures contracts. OILK charges 65 basis points in fee per year and has AUM of $9.9 million (see all Energy ETFs here).
Why the Move?
WTI crude prices are breaking records. Increased geopolitical tensions seem to be the driving force for the increase. Reports of Iranian backed Houthis in Yemen firing missiles toward Saudi Arabia led to increased unrest in the region. Adding to this, Saudi-led forces killed a senior leader of the rebel group. Although Saudi Arabia has successfully intercepted these missiles till now, the markets are concerned about the consequences to the oil supply if a missile hits.
More Gains Ahead?
OILK has a weighted alpha of 34.50. So, there is a promising outlook 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 >>
Get the latest research report on OILK - FREE