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Invesco Dorsey Wright Technology Momentum ETF (PTF) - free report >>
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Invesco Dorsey Wright Technology Momentum ETF (PTF) - free report >>
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Technology Momentum ETF (PTF) Hits New 52-Week High
For investors seeking momentum, Invesco Dorsey Wright Technology Momentum ETF (PTF - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 66.7% from its 52-week low price of $47.06/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 of where it might be headed:
PTF in Focus
The underlying Dorsey Wright Technology Technical Leaders Index identifies companies that are showing relative strength and are composed of at least 30 common stocks from a universe of approximately 3,000 common stocks traded on US exchanges. PTF charges 60 bps in annual fees. (see: all the Technology ETFs here).
Why the Move?
The technology sector has been an area to watch lately as investors bet on strong earnings from corporate heavyweights. The rapid adoption of artificial intelligence (AI) is fueling growth in the sector. The expansion of AI applications holds the promise of ushering in fresh growth opportunities within the sector.
More Gains Ahead?
Currently, PTF has a Zacks ETF Rank #1 (Strong Buy) with a “Medium” risk outlook, suggesting that the outperformance could continue in the months ahead.