For investors seeking momentum, iShares MSCI ACWI ETF (ACWI - Free Report) is probably on radar now. The fund just hit a 52-week high and is up nearly 21.4% from its 52-week low price of $56.69/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 on where it might be headed:
ACWI in Focus
This 1349-stock fund looks to track the MSCI All Country World Index. The fund charges 33 bps in fees. Financials, Information Technology, Consumer Discretionary, Industrials are the top four sectors of the fund (see all World ETFs here).
Why the Move?
Global stocks have been steady lately on upbeat sentiments, decent oil prices and no more nuclear shocks from North Korea.
More Gains Ahead?
The fund currently has a Zacks ETF Rank #3 (Hold). It seems that this fund might stay strong given a positive weighted alpha of 17.20. As a result, there is still some promise for investors who want to ride on this surging ETF.
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