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NVIDIA Corporation (NVDA) - free report >>
Communication Services Select Sector SPDR ETF (XLC) - free report >>
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Communication Services ETF (XLC) Hits New 52-Week High
The Communication Services Select Sector SPDR Fund (XLC - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and is up 36.6% from its 52-week low of $62.82 per share.
But are more gains in store for this ETF? Let us 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:
XLC in Focus
Communication Services Select Sector SPDR Fund offers exposure to companies from telecommunication services, media, entertainment, and interactive media & services. It charges 9 bps in annual fees (see: all the Communication Services ETFs here).
Why the Move?
The communication segment of the broad investing world has been an area to watch lately, given the sector stock surge. The resumption of the rally in NVIDIA (NVDA - Free Report) shares after a three-day decline and other tech stocks drove the ETF higher.
More Gains Ahead?
Currently, XLC has a Zacks ETF Rank #2 (Buy), suggesting that the outperformance could continue in the months ahead. Many industries 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.