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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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PLTR
Palantir Technologies
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#7
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Technology ETF (IGV) Hits a New 52-Week High
For investors looking for momentum, iShares Expanded TechSoftware Sector ETF (IGV - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 48.9% from its 52-week low of $235.41/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed in future:
IGV in Focus
The underlying S&P North American Expanded Technology Software Index comprises of North American equities in the software industry and select North American equities from interactive home entertainment and interactive media and services industries. It charges 40 basis points in annual fees.
Why the Move?
The hot run for the technology sector is back and dominating the stock market rally once again. The combination of easing inflation, upbeat corporate earnings, the regional bank crisis and the adoption of new-era technologies have been driving the sector higher.
More Gains Ahead?
The fund has a positive weighted alpha of 41.70, which gives cues of further rally.