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Low Volatility ETF (SPLV) Hits a 52-Week High

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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 21.2% from its 52-week low price of $53.62/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

Invesco S&P 500 Low Volatility ETF is based on the S&P 500Low Volatility Index. SPLV has AUM of $8.06 billion and charges expense ratio of 25 basis points, as stated in the prospectus.

Why the Move?

The omicron variant has stolen some year-end rally thunder. Weakness is being observed on the bourses as there is still a lot of ambiguity about the severity of the new strain and the efficacy of the existing vaccines. The variant was first detected in South Africa and has numerous mutations (more than 30) to the spike protein (as stated in a CNBC article). The coronavirus outbreak is aggravating in some parts of Europe largely due to the cold weather conditions. Various measures are being taken to curtail the spread, which can again impact the economic recovery achieved so far from the pandemic-led slump. This is making funds like SPLV an impressive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 16.00, which gives cues of further rally.


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