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AAPL
Apple
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#1
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MU
Micron Technology
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#2
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NVDA
NVIDIA
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#3
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MSFT
Microsoft
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#4
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AVGO
Broadcom
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#5
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AMZN
Amazon.com
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#6
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META
Meta Platforms
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#7
View the Zacks #1 Rank List
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Small-Cap Value ETF (RZV) Hits New 52-Week High
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.