For investors seeking momentum, Invesco Dynamic Retail ETF is probably on the radar now. The fund just hit a 52-week high and is up nearly 31.5% from its 52-week low price of $32.00/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.
PMR in Focus
The fund measures the performance of the U.S. retail companies. Kroger, Walmart and Amazon.com are the top three holdings of the fund. The product charges 63 bps in fees (see all Consumer Discretionary ETFs here).
Why the Move?
The back-to-school season, between July and September, is at its peak. This shopping extravaganza comes second to holiday shopping and Americans are estimated to spend $27.6 billion this time, per an article published on CNBC. This has probably given a boost to this retail ETF.
More Gains Ahead?
The fund has a Zacks Rank #2 (Buy). Plus, it seems that the fund will perform decently in the near term given a positive weighted alpha of 30.80.
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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, Invesco Dynamic Retail ETF is probably on the radar now. The fund just hit a 52-week high and is up nearly 31.5% from its 52-week low price of $32.00/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.
PMR in Focus
The fund measures the performance of the U.S. retail companies. Kroger, Walmart and Amazon.com are the top three holdings of the fund. The product charges 63 bps in fees (see all Consumer Discretionary ETFs here).
Why the Move?
The back-to-school season, between July and September, is at its peak. This shopping extravaganza comes second to holiday shopping and Americans are estimated to spend $27.6 billion this time, per an article published on CNBC. This has probably given a boost to this retail ETF.
More Gains Ahead?
The fund has a Zacks Rank #2 (Buy). Plus, it seems that the fund will perform decently in the near term given a positive weighted alpha of 30.80.
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 >>