Back to top
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Bank ETF (KBWB) Hits New 52-Week High
For investors seeking momentum, Invesco KBW Bank ETF (KBWB - Free Report) is probably on the radar. The fund just hit a 52-week high and has moved up 53.7% from its 52-week low of $46.87 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:
KBWB in Focus
The KBW Nasdaq Bank index is a modified-market capitalization-weighted index that seeks to reflect the performance of companies that do business as banks or thrifts that are publicly-traded in the United States. KBWB charges 35 bps in fees per year (see: all the Financials ETFs here).
Why the Move
Upbeat corporate earnings and steepening of the yield curve have been favoring the bank ETFs in recent trading.
More Gains Ahead?
The ETF KBWB might continue its strong performance in the near term, with a positive weighted alpha of 51.47, which gives cues of a further rally.