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For investors seeking momentum, SPDR Portfolio S&P 500 ETF (SPLG - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 23.5% from its 52-week low of $58.06 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:
SPLG in Focus
iShares Core S&P 500 ETF tracks the S&P 500 Index with key holdings in the information technology, financials, consumer discretionary and healthcare sectors accounting for a double-digit allocation each. The ETF charges 2 bps in annual fees (see: all the Large-Cap Blend ETFs here).
Why the Move?
The large-cap corner of the broad investing world has been an area to watch lately, given that the S&P 500 Index is trading near all-time highs despite the global trade war fears. Renewed gains in tech stocks, delays in new U.S. tariffs and strong corporate earnings are driving U.S. stocks higher.
More Gains Ahead?
Currently, SPLG has a Zacks ETF Rank #1 (Strong Buy), suggesting that the outperformance could continue in the months ahead. However, many sectors 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.
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Large-Cap ETF (SPLG) Hits New 52-Week High
For investors seeking momentum, SPDR Portfolio S&P 500 ETF (SPLG - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 23.5% from its 52-week low of $58.06 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:
SPLG in Focus
iShares Core S&P 500 ETF tracks the S&P 500 Index with key holdings in the information technology, financials, consumer discretionary and healthcare sectors accounting for a double-digit allocation each. The ETF charges 2 bps in annual fees (see: all the Large-Cap Blend ETFs here).
Why the Move?
The large-cap corner of the broad investing world has been an area to watch lately, given that the S&P 500 Index is trading near all-time highs despite the global trade war fears. Renewed gains in tech stocks, delays in new U.S. tariffs and strong corporate earnings are driving U.S. stocks higher.
More Gains Ahead?
Currently, SPLG has a Zacks ETF Rank #1 (Strong Buy), suggesting that the outperformance could continue in the months ahead. However, many sectors 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.