See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Invesco Dorsey Wright Energy Momentum ETF (PXI) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Invesco Dorsey Wright Energy Momentum ETF (PXI) - free report >>
Image: Bigstock
Energy ETF (PXI) Hits New 52-Week High
For investors seeking momentum, Invesco DWA Energy Momentum ETF (PXI - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 172% from its 52-week low price of $11.72/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
PXI in Focus
This fund targets the energy sector and provides exposure to the companies that are showing relative strength (momentum). It charges investors 60 basis points a year in fees (see: all the Energy ETFs here).
Why the Move?
The energy sector has been an area to watch lately given an oil price surge. Supply disruptions and storage drawdowns as well as growing demand with the easing of pandemic restrictions are driving oil prices higher. Added to the strength is growing fuel demand. The overall demand for fuel has rebounded to pre-pandemic levels.
More Gains Ahead?
Currently, PXI has a Zacks ETF Rank #3 (Hold) with a High risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.