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For investors seeking momentum, ETFMG Travel Tech ETF (AWAY - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 31% from its 52-week low of $17.13 per share.
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:
AWAY in Focus
ETFMG Travel Tech ETF is the first ETF that offers direct access to the technology-focused global travel and tourism industry. It holds 30 stocks in its basket, with American firms accounting for 37.2%, followed by China and Australia with nearly 13% share each. It charges 75 bps in annual fees (see: all the Consumer Discretionary ETFs here).
Why the Move?
The travel industry has been an area to watch lately, as Thanksgiving travel set new records this year. According to the Federal Aviation Administration, a record 232,000 flights took off during the Thanksgiving holiday from Nov. 24 through Nov. 28, with more than 12 million people passing through TSA checkpoints, representing a rise of more than 400,000 from 2023.
Travel through U.S. airports also touched a new high at the close of the Thanksgiving weekend. The U.S. Transportation Security Administration said 3.09 million passengers went through U.S. airport screening on Sunday, some 74,000 more than the previous single-day record set on July 7.
More Gains Ahead?
AWAY might remain strong, given its weighted alpha of 25.47 and a lower 20-day volatility of 14.79%. There is definitely still some promise for investors who want to ride on this surging ETF.
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Travel ETF (AWAY) Hits New 52-Week High
For investors seeking momentum, ETFMG Travel Tech ETF (AWAY - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 31% from its 52-week low of $17.13 per share.
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:
AWAY in Focus
ETFMG Travel Tech ETF is the first ETF that offers direct access to the technology-focused global travel and tourism industry. It holds 30 stocks in its basket, with American firms accounting for 37.2%, followed by China and Australia with nearly 13% share each. It charges 75 bps in annual fees (see: all the Consumer Discretionary ETFs here).
Why the Move?
The travel industry has been an area to watch lately, as Thanksgiving travel set new records this year. According to the Federal Aviation Administration, a record 232,000 flights took off during the Thanksgiving holiday from Nov. 24 through Nov. 28, with more than 12 million people passing through TSA checkpoints, representing a rise of more than 400,000 from 2023.
Travel through U.S. airports also touched a new high at the close of the Thanksgiving weekend. The U.S. Transportation Security Administration said 3.09 million passengers went through U.S. airport screening on Sunday, some 74,000 more than the previous single-day record set on July 7.
More Gains Ahead?
AWAY might remain strong, given its weighted alpha of 25.47 and a lower 20-day volatility of 14.79%. There is definitely still some promise for investors who want to ride on this surging ETF.