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U.S. Equity ETF (ILCB) Hits a New 52-Week High

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For investors looking for momentum, iShares Morningstar U.S. Equity ETF (ILCB - Free Report) isprobably a suitable pick. The fund just hit a 52-week high and is up 38.3% from its 52-week low price of $44.01/share.

Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

ILCB in Focus

The fund seeks to track the investment results of an index composed of large- and mid-capitalization U.S. equities. It has AUM of $901.3 million and charges 3 basis points in annual fees.

Why the Move?

Wall Street cheered President Joe Biden’s announcement of the White House striking an infrastructure deal with a bipartisan group of senators. Moreover, the U.S. economy seems to be on the path of recovery from the pandemic-led slowdown. Markedly, accelerated vaccine distribution, strong fiscal stimulus support and the reopening of non-essential businesses are expected to fasten the pace of economic recovery. Furthermore, certain economic data releases are pointing toward economic recovery. This is making funds like ILCB an attractive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 36.02, which gives cues of further rally.

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