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For investors seeking momentum: Global X Defense Tech ETF (SHLD - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 53.32% from its 52-week low price of $31.60/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:
SHLD in Focus
The underlying Global X Defense Tech Index seeks to provide exposure to defense technology companies that are positioned to benefit from technology, services, systems and hardware that cater to the defense and military sector. The product charges 50 bps in annual fees (See: All Industrials ETFs).
Why the Move?
The Aerospace and Defense sector has been an area to watch lately, given the complicated geopolitical landscape. Increased defense spending by EU economies has also boosted the fund’s prospects. The European Commission has proposed to allocate about $841 billion in defense expenditure over the next four years.
Additionally, Israel's recent airstrike on Gaza, following a failed ceasefire agreement, has raised concerns about escalating Middle East tensions.
More Gains Ahead?
SHLD is expected to continue its strong performance in the near term, with a positive weighted alpha of 55.72 (as per Barchart.com), which gives cues of a further rally.
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Defense ETF (SHLD) Hits New 52-Week High
For investors seeking momentum: Global X Defense Tech ETF (SHLD - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 53.32% from its 52-week low price of $31.60/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:
SHLD in Focus
The underlying Global X Defense Tech Index seeks to provide exposure to defense technology companies that are positioned to benefit from technology, services, systems and hardware that cater to the defense and military sector. The product charges 50 bps in annual fees (See: All Industrials ETFs).
Why the Move?
The Aerospace and Defense sector has been an area to watch lately, given the complicated geopolitical landscape. Increased defense spending by EU economies has also boosted the fund’s prospects. The European Commission has proposed to allocate about $841 billion in defense expenditure over the next four years.
Additionally, Israel's recent airstrike on Gaza, following a failed ceasefire agreement, has raised concerns about escalating Middle East tensions.
More Gains Ahead?
SHLD is expected to continue its strong performance in the near term, with a positive weighted alpha of 55.72 (as per Barchart.com), which gives cues of a further rally.