For investors seeking momentum, iShares Core S&P 500 ETF (IVV - Free Report) is probably on radar. The fund just hit a 52-week high and is up 27.7% from its 52-week low price of $257.95/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:
IVV in Focus
IVV provides exposure to 505 large and established U.S. companies. It has key holdings in information technology, healthcare and financials. The product charges 4 basis points in fees (see: all the Large Cap Blend ETFs here).
Why the Move?
The U.S. stock market has been an area to watch lately given that the major bourses are scaling new highs. Easing of Middle East tensions, the expected signing of the phase one trade deal this week and earnings optimism are driving stocks higher. The latest rally was brought in by the news that the United Stated would remove China from the list of countries that it considers as currency manipulators, signaling their improving relationship.
More Gains Ahead?
Currently, IVV has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting continued outperformance in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.
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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 Core S&P 500 ETF (IVV - Free Report) is probably on radar. The fund just hit a 52-week high and is up 27.7% from its 52-week low price of $257.95/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:
IVV in Focus
IVV provides exposure to 505 large and established U.S. companies. It has key holdings in information technology, healthcare and financials. The product charges 4 basis points in fees (see: all the Large Cap Blend ETFs here).
Why the Move?
The U.S. stock market has been an area to watch lately given that the major bourses are scaling new highs. Easing of Middle East tensions, the expected signing of the phase one trade deal this week and earnings optimism are driving stocks higher. The latest rally was brought in by the news that the United Stated would remove China from the list of countries that it considers as currency manipulators, signaling their improving relationship.
More Gains Ahead?
Currently, IVV has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting continued outperformance in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.
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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