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Consumer ETF (IYC) Hits New 52-Week High

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Investors seeking momentum may have iShares U.S. Consumer Services ETF (IYC - Free Report)  on radar now. The fund recently hit a new 52-week high. Shares of IYC are up approximately 70.3% from their 52-week low of $45.52/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.

IYC in Focus

The underlying Dow Jones U.S. Consumer Services Capped Index measures the performance of the consumer services sector of the U.S. equity market. The expense ratio is 0.43% (see all Consumer Discretionary ETFs here).

Why the move?

Blowout jobs report, monetary and fiscal stimulus, still-low oil prices, and upbeat U.S. consumer confidence point to strength in the consumer sector.

More Gains Ahead?

The fund has a positive weighted alpha of 58.03. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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