For investors seeking momentum, iShares Expanded Tech-Software Sector ETF (IGV - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up roughly 30.9% from its 52-week low price of $158.98/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:
IGV in Focus
This ETF provides exposure to software companies in the technology and communication services sectors. It is a home to 90 securities with each accounting for single-digit allocation. Additionally, the fund has key holdings in application software and systems software and charges 47 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 progress in U.S.-China trade deal. This has instilled confidence in the broad technology sector, which is heavily exposed to China’s economy, and eased concerns over global slowdown.
More Gains Ahead?
Currently, IGV 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.
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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, iShares Expanded Tech-Software Sector ETF (IGV - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up roughly 30.9% from its 52-week low price of $158.98/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:
IGV in Focus
This ETF provides exposure to software companies in the technology and communication services sectors. It is a home to 90 securities with each accounting for single-digit allocation. Additionally, the fund has key holdings in application software and systems software and charges 47 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 progress in U.S.-China trade deal. This has instilled confidence in the broad technology sector, which is heavily exposed to China’s economy, and eased concerns over global slowdown.
More Gains Ahead?
Currently, IGV 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 >>
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