For investors seeking momentum, iShares Nasdaq Biotechnology ETF (IBB - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 34.3% from its 52-week low price of $89.01/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:
IBB in Focus
This fund seeks to provide exposure to U.S. biotechnology stocks and tracks the NASDAQ Biotechnology Index. It comprises about 215 holdings. It charges a fee of 47 basis points a year.
Why the Move?
FDA approvals, solid merger-acquisition environment and positive drug data have been driving the sector and the related funds like IBB ahead.
More Gains Ahead?
Currently, the fund has a positive weighted alpha of 15.80. So, there is definitely some promise for those who want to ride on this 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 Nasdaq Biotechnology ETF (IBB - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 34.3% from its 52-week low price of $89.01/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:
IBB in Focus
This fund seeks to provide exposure to U.S. biotechnology stocks and tracks the NASDAQ Biotechnology Index. It comprises about 215 holdings. It charges a fee of 47 basis points a year.
Why the Move?
FDA approvals, solid merger-acquisition environment and positive drug data have been driving the sector and the related funds like IBB ahead.
More Gains Ahead?
Currently, the fund has a positive weighted alpha of 15.80. So, there is definitely some promise for those who want to ride on this 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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