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Small-Cap Value ETF (RZV) Hits New 52-Week High

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Investors seeking momentum may have S&P SmallCap 600 Pure Value Invesco ETF (RZV - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of RZV are up approximately 31.8% from their 52-week low of $55.19/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.

RZV In Focus

The underlying S&P SmallCap 600 Pure Value Index measures the performance of securities that exhibit strong value characteristics in the S&P SmallCap 600 Index. The fund charges 35 bps in fees.

Why The Move?

Things are taking a turn for the better for the pint-sized stocks. Upbeat earnings and cheaper valuation augur well for the pint-sized stocks. Since the small-caps are more domestically-focused and do not have much foreign exposure, these are faring better on releases of decent U.S. economic indicators.

More Gains Ahead?

The fund has a positive weighted alpha of 14.20. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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