For investors looking for momentum, ProShares Long Online/Short Stores ETF (CLIX - Free Report) is probably a suitable pick. The fund just hit a 52-week high — up roughly 38.7% from its 52-week low of $46.11/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:
CLIX in Focus
The underlying index consists of long positions in online retailers, included in the ProShares Online Retail Index, and short positions in the bricks and mortar retailers included in the Solactive-ProShares Bricks and Mortar Retail Store Index. Amazon (24.09%) and Alibaba (12.42%) are the top two holdings of the fund’s long positions. The fund charges 65 bps in fees (see all long/short ETFs here).
Why the Move?
While coronavirus-led lockdowns and cash crunch ruined retail sales in March, non-store retail trade gained 3.1% sequentially and 9.7% year over year in the month. Social distancing amid growing fears of virus contamination has been aiding the space.
More Gains Ahead?
The fund has a positive weighted alpha of 35.22, 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, ProShares Long Online/Short Stores ETF (CLIX - Free Report) is probably a suitable pick. The fund just hit a 52-week high — up roughly 38.7% from its 52-week low of $46.11/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:
CLIX in Focus
The underlying index consists of long positions in online retailers, included in the ProShares Online Retail Index, and short positions in the bricks and mortar retailers included in the Solactive-ProShares Bricks and Mortar Retail Store Index. Amazon (24.09%) and Alibaba (12.42%) are the top two holdings of the fund’s long positions. The fund charges 65 bps in fees (see all long/short ETFs here).
Why the Move?
While coronavirus-led lockdowns and cash crunch ruined retail sales in March, non-store retail trade gained 3.1% sequentially and 9.7% year over year in the month. Social distancing amid growing fears of virus contamination has been aiding the space.
More Gains Ahead?
The fund has a positive weighted alpha of 35.22, 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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