For investors seeking momentum, SPDR S&P Insurance ETF (KIE - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up roughly 26.1% from its 52-week low price of $26.49/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:
KIE in Focus
KIE targets the insurance corner of the broad financial space and offers a diversified exposure to 48 stocks. About 43% of the portfolio is allocated to property and casualty insurance, while life & health insurance accounts for one-fourth share. The fund charges investors 35 basis points a year in fees (see: all the Financial ETFs here).
Why the Move?
The insurance sector has been an area to watch lately given a solid job market, increasing wages and rising consumer confidence that is spurring demand for all types of insurance services. Further, the industry is benefiting from the implementation of new technologies and innovative processes.
More Gains Ahead?
Currently, KIE has a Zacks ETF Rank #2 (Buy) with a Medium 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, SPDR S&P Insurance ETF (KIE - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up roughly 26.1% from its 52-week low price of $26.49/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:
KIE in Focus
KIE targets the insurance corner of the broad financial space and offers a diversified exposure to 48 stocks. About 43% of the portfolio is allocated to property and casualty insurance, while life & health insurance accounts for one-fourth share. The fund charges investors 35 basis points a year in fees (see: all the Financial ETFs here).
Why the Move?
The insurance sector has been an area to watch lately given a solid job market, increasing wages and rising consumer confidence that is spurring demand for all types of insurance services. Further, the industry is benefiting from the implementation of new technologies and innovative processes.
More Gains Ahead?
Currently, KIE has a Zacks ETF Rank #2 (Buy) with a Medium 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 KIE - FREE