We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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.
For investors looking for momentum, Ark Web X.0 ETF (ARKW - Free Report) is probably on your radar now. The fund just hit a 52-week high of $29.32. Shares of ARKW are up roughly 45.12% from their 52-week low price of $20.10/share.
But could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea on where it might be headed:
ARKW in Focus
ARKW is an actively managed fund, providing significant exposure to Internet technology companies. It has key holdings in Information Technology, Consumer Discretionary, and Health Care sectors, with over 90% allocation to them. The fund charges 75 basis points in fees. It has around 51.3% allocated to its top 10 holdings. Athenahealth Inc , Amazon Inc (AMZN - Free Report) , Netflix Inc (NFLX - Free Report) , and Tesla Motors Inc (TSLA - Free Report) hold the top four positions with 8.62%, 7.67%, 5.15%, and 4.97% allocation, respectively. (See all the Technology ETFs here).
Why the Move?
One of the fund’s top holdings, Tesla just crossed General Motors to become the most valuable carmaker in the U.S. Tesla’s stock closed up over 3% to end at $312.39 a share on Tuesday, April 10, 2017. It hit a market value of $50.84 billion, crossing GM’s $50.79 billion. Even though Tesla sold a meager 76,000 cars last year compared to GM’s 10 million, investors are betting on Tesla’s future potential.
More Gains Ahead?
Amazon is surging due to its expansion into the Middle East while Athenahealth continues to rise due to the failure of Trump’s healthcare bill. However, there is still uncertainty regarding President Trump’s policy implementation and his take on alternatives’ companies like Tesla. So it is hard to get a handle on the fund’s future returns one way or another. However, the ETF has a weighted alpha of 38.3 and a low 14-day standard deviation of 5.7%. So there is definitely some promise for those who want to ride this surging ETF a little further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Technology ETF (ARKW) Hits New 52-Week High
For investors looking for momentum, Ark Web X.0 ETF (ARKW - Free Report) is probably on your radar now. The fund just hit a 52-week high of $29.32. Shares of ARKW are up roughly 45.12% from their 52-week low price of $20.10/share.
But could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea on where it might be headed:
ARKW in Focus
ARKW is an actively managed fund, providing significant exposure to Internet technology companies. It has key holdings in Information Technology, Consumer Discretionary, and Health Care sectors, with over 90% allocation to them. The fund charges 75 basis points in fees. It has around 51.3% allocated to its top 10 holdings. Athenahealth Inc , Amazon Inc (AMZN - Free Report) , Netflix Inc (NFLX - Free Report) , and Tesla Motors Inc (TSLA - Free Report) hold the top four positions with 8.62%, 7.67%, 5.15%, and 4.97% allocation, respectively. (See all the Technology ETFs here).
Why the Move?
One of the fund’s top holdings, Tesla just crossed General Motors to become the most valuable carmaker in the U.S. Tesla’s stock closed up over 3% to end at $312.39 a share on Tuesday, April 10, 2017. It hit a market value of $50.84 billion, crossing GM’s $50.79 billion. Even though Tesla sold a meager 76,000 cars last year compared to GM’s 10 million, investors are betting on Tesla’s future potential.
More Gains Ahead?
Amazon is surging due to its expansion into the Middle East while Athenahealth continues to rise due to the failure of Trump’s healthcare bill. However, there is still uncertainty regarding President Trump’s policy implementation and his take on alternatives’ companies like Tesla. So it is hard to get a handle on the fund’s future returns one way or another. However, the ETF has a weighted alpha of 38.3 and a low 14-day standard deviation of 5.7%. So there is definitely some promise for those who want to ride this surging ETF a little further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>