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Gaming ETF (BJK) Hits New 52-Week High
For investors seeking momentum, VanEck Vectors Gaming ETF (BJK - Free Report) is probably on radar. The fund just hit a 52-week high and is up 40% from its 52-week low of $31.47 per 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 of where it might be headed:
BJK in Focus
VanEck Vectors Gaming ETF provides investors with exposure to companies involved in casinos and casino hotels, sports betting, lottery services, gaming services, gaming technology and equipment. It charges 65 bps in annual fees (see: all the Consumer Discretionary ETFs here).
Why the Move?
The gaming corner of the broad investing world has been an area to watch lately, given improving industry fundamentals. The reopening of operations in the Chinese gambling hub of Macau has reinstilled confidence among casino companies. Additionally, the rounds of better-than-expected earnings results and surge in travel demand are driving the entertainment stocks higher.
More Gains Ahead?
Currently, BJK 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.