For investors looking for momentum, First Trust NASDAQ Semiconductor ETF (FTXL - Free Report) is probably a suitable pick. The fund just hit a 52-week high — up roughly 73.9% from its 52-week low of $23.86/share.
Does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
FTXL in Focus
The underlying Nasdaq US Smart Semiconductor Index is a modified factor weighted index, designed to provide exposure to US companies within the semiconductor industry. The fund charges 60 bps in fees (see all Technology ETFs here).
Why the Move?
The phase-one U.S.-China trade deal, a 5G boom and rising consumer spending on technology have propelled the sector. Expectations of higher smartphone sales have given an added boost. IDC expects the smartphone market to record 1.5% growth in 2020, after three straight years of global contraction. All these sent this semiconductor ETF to a 52-week high.
More Gains Ahead?
The fund has a Zacks ETF Rank #3 (Hold). It also has a positive weighted alpha of 66.80, which gives cues of further rally.
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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 looking for momentum, First Trust NASDAQ Semiconductor ETF (FTXL - Free Report) is probably a suitable pick. The fund just hit a 52-week high — up roughly 73.9% from its 52-week low of $23.86/share.
Does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
FTXL in Focus
The underlying Nasdaq US Smart Semiconductor Index is a modified factor weighted index, designed to provide exposure to US companies within the semiconductor industry. The fund charges 60 bps in fees (see all Technology ETFs here).
Why the Move?
The phase-one U.S.-China trade deal, a 5G boom and rising consumer spending on technology have propelled the sector. Expectations of higher smartphone sales have given an added boost. IDC expects the smartphone market to record 1.5% growth in 2020, after three straight years of global contraction. All these sent this semiconductor ETF to a 52-week high.
More Gains Ahead?
The fund has a Zacks ETF Rank #3 (Hold). It also has a positive weighted alpha of 66.80, which gives cues of further rally.
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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