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Aerospace ETF (ITA) Hits New 52-Week High
iShares U.S. Aerospace & Defense ETF (ITA - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 32.4% from its 52-week low price of $120.56/share.
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.
ITA in Focus
The underlying Dow Jones U.S. Select Aerospace & Defense Index measures the performance of the aerospace and defense sector of the U.S. equity market. The product charges 40 bps in annual fees.
Why the Move?
ITA is ideal for investors seeking exposure to the Aerospace & Defense sector of the U.S. equity market with a tilt toward large caps. The new Trump administration is a plus for the fund.
More Gains Ahead?
The ETF ITA might continue its strong performance in the near term, with a positive weighted alpha of 29.71, which gives cues of a further rally.