For investors seeking momentum, Invesco Dynamic Software ETF is probably on radar now. The fund just hit a 52-week high, and is up more than 46% from its 52-week low price of $60.14/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:
PSJ in Focus
It tracks the Dynamic Software Intellidex Index. There are 30 holdings in the basket of the fund, with Intuit (INTU - Free Report) occupying the top spot with 5.02% weight. The focus is on growth stocks in the large-cap (32%), mid-cap (27%) and small-cap (24%) segment of the market. The product charges 63 bps in fees per year (see: all the Technology ETFs here).
Why the Move?
The technology corner of the broad U.S. stock market has been an area to watch lately given the increasing demand for cutting-edge technology. Added to the strength are rounds of upbeat data, signaling improving economic growth and providing a solid boost to economically sensitive growth sectors like technology, which typically perform well in a maturing economic cycle.
More Gains Ahead?
Currently, PSJ has a Zacks ETF Rank #2 (Buy) with a High risk outlook, suggesting that the outperformance could continue in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.
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 >>
For investors seeking momentum, Invesco Dynamic Software ETF is probably on radar now. The fund just hit a 52-week high, and is up more than 46% from its 52-week low price of $60.14/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:
PSJ in Focus
It tracks the Dynamic Software Intellidex Index. There are 30 holdings in the basket of the fund, with Intuit (INTU - Free Report) occupying the top spot with 5.02% weight. The focus is on growth stocks in the large-cap (32%), mid-cap (27%) and small-cap (24%) segment of the market. The product charges 63 bps in fees per year (see: all the Technology ETFs here).
Why the Move?
The technology corner of the broad U.S. stock market has been an area to watch lately given the increasing demand for cutting-edge technology. Added to the strength are rounds of upbeat data, signaling improving economic growth and providing a solid boost to economically sensitive growth sectors like technology, which typically perform well in a maturing economic cycle.
More Gains Ahead?
Currently, PSJ has a Zacks ETF Rank #2 (Buy) with a High risk outlook, suggesting that the outperformance could continue in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.
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 INTU - FREE