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Low Volatility ETF (SPLV) Hits a 52-Week High
For investors looking for momentum, Invesco S&P 500 Low Volatility ETF (SPLV - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 35.9% from its 52-week low price of $42.23/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
SPLV in Focus
The fund is based on the S&P 500 Low Volatility Index. It has AUM of $7.62 billion and charges expense ratio of 25 basis points, as stated in the prospectus.
Why the Move?
Low-volatility products could be intriguing choices for those who want to continue investing in equities in the turbulent market conditions. Notably, Wall Street currently seems to be taking a hit from the rising number of new coronavirus cases and implementation of lockdown measures to control the outbreak. This is making funds like SPLV an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 19.44, which gives cues of further rally.
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