We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Mid-Cap ETF (XMHQ) Hits New 52-Week High
For investors seeking momentum, Invesco S&P MidCap Quality ETF (XMHQ - Free Report) is probably on radar. The fund just hit a 52-week high and is up 40% from its 52-week low price of $68.69 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 on where it might be headed:
XMHQ in Focus
The underlying S&P MidCap 400 Quality Index is designed to provide equal-weighted exposure to approximately 800 securities of medium-sized companies in the larger US equity market. The fund charges 25 basis points in annual fees.
Why the Move?
The mid-cap space of the broad U.S. stock market has been an area to watch lately given the soaring stock market. However, overvaluation of the U.S. market is a concern. Meanwhile, the IMF has upped the global growth forecasts. Mid-caps offer exposure to both U.S. and global economy. Moreover, mid-cap funds offer the best of both worlds — small-cap’s growth and large-cap’s stability.
More Gains Ahead?
The fund has a Zacks Rank #3 (Hold) and a positive weighted alpha of 34.30. As a result, there is still some promise for aggressive investors who want to ride on this surging ETF.