For investors seeking momentum, PowerShares DWA Energy Momentum Portfolio (PXI - Free Report) is probably on radar now. The fund just hit a 52-week high and is up nearly 43.8% from its 52-week low price of $30.10/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.
PXI in Focus
The ETF looks to track the performance of the DWA Energy Technical Leaders Index. The product charges 60 bps in net fees (see all Energy ETFs here).
Why the Move?
Oil prices hit the highest level since November 2014. Tight global supplies on the Venezuela issue and the OPEC output cut deal, and the likely new U.S. sanctions against Iran led to this bump.
More Gains Ahead?
It seems that the fund will stay strong in the near term given a positive weighted alpha of 26.80. So, there is still some promise for investors who want to ride on this surging ETF.
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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 DWA Energy Momentum Portfolio (PXI - Free Report) is probably on radar now. The fund just hit a 52-week high and is up nearly 43.8% from its 52-week low price of $30.10/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.
PXI in Focus
The ETF looks to track the performance of the DWA Energy Technical Leaders Index. The product charges 60 bps in net fees (see all Energy ETFs here).
Why the Move?
Oil prices hit the highest level since November 2014. Tight global supplies on the Venezuela issue and the OPEC output cut deal, and the likely new U.S. sanctions against Iran led to this bump.
More Gains Ahead?
It seems that the fund will stay strong in the near term given a positive weighted alpha of 26.80. So, there is still some promise for investors who want to ride on this surging ETF.
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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