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Gaming ETF (BJK) Hits a New 52-Week High

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Investors seeking momentum may have VanEck Vectors Gaming ETF (BJK - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of BJK are up approximately 186.4% from their 52-week low of $20.02/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

BJK in Focus

The underlying MVIS Global Gaming Index tracks the overall performance of companies involved in casinos and casino hotels, sports betting, lottery services, gaming services, gaming technology and gaming equipment. The expense ratio is 0.65% (see all Consumer Discretionary ETFs here).

Why the Move?

The gaming sector has been gaining attention lately thanks to the reopening trade. Biden’s fiscal stimulus and wider coverage of vaccination has boosted cyclical and value segments like casino gaming in the recent past.

More Gains Ahead?

The fund has a Zacks ETF Rank #3 (Hold). The fund has a positive weighted alpha of 137.10. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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