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Pharma ETF (PPH) Hit a 52-Week High
Investors seeking momentum may have iShares VanEck Pharmaceutical ETF (PPH - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of PPH are up approximately 21.9% from their 52-week low of $73.40/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.
PPH In Focus
The underlying MVIS US Listed Pharmaceutical 25 Index tracks the overall performance of companies involved in pharmaceuticals, including pharmaceutical research and development as well a production, marketing and sales of pharmaceuticals. The fund charges 36 bps in fees.
Why The Move?
The healthcare sector is a foundation of any economy, providing essential services irrespective of market conditions. From pharmaceutical giants developing life-saving drugs to companies advancing medical technologies, the healthcare sector offers a breadth of investment opportunities. Amid ongoing challenges about the geopolitical risks and the uncertainty about the timing of the likely Fed rate cuts, this healthcare ETF offers value and safe proposition.
More Gains Ahead?
The fund has a positive weighted alpha of 18.30. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.