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Airlines ETF (JETS) Hits New 52-Week High
Investors seeking momentum may have U.S. Global Jets ETF (JETS - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of JETS are up approximately 47.7% from their 52-week low of $14.77/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.
JETS In Focus
The underlying U.S. Global Jets Index tracks the performance of Airline Companies across the globe with an emphasis on domestic passenger airlines. The fund charges 60 bps in fees.
Why The Move?
Things are taking a turn for the better for airlines stocks. The summer travel season, the ebbing pandemic and lower chances of a U.S. recession making the case for an airlines ETF investing stronger.
More Gains Ahead?
The fund has a positive weighted alpha of 33.90. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.