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VanEck Retail ETF (RTH) Hits a 52-Week High
For investors looking for momentum, VanEck Retail ETF (RTH - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 31.1% from its 52-week low price of $147.18/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
RTH in Focus
The fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVISUS Listed Retail 25 Index. It has AUM of $222.5 million and charges 35 basis points in annual fees.
Why the Move?
Market pundits are anticipating an impressive retail sales figure in 2021 along with a strong holiday season. The strength in consumer sentiment can be the major driving force as the same is believed to be prepared with enough resources to splurge this holiday season after facing restrictions for more than a year. Retailers are also strongly gearing up for the start to the holiday season (the late October-December period) that is considered a busy season for many industry players and market participants. This is making funds like RTH an impressive investment option.
More Gains Ahead?
The fund sports a Zacks ETF Rank #2 (Buy), with a Medium-risk outlook. Moreover, it seems like the fund will remain strong, with a positive weighted alpha of 24.15, which gives cues of a further rally.