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Quality ETF (QUAL) Hits New 52-Week High

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For investors seeking momentum, iShares Edge MSCI USA Quality Factor ETF (QUAL - Free Report) is probably on radar now. The fund just hit a 52-week high and is up nearly 18.7% from its 52-week low price of $65.06/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:

QUAL in Focus

This 125-stock fund looks to track the MSCI USA Sector Neutral Quality Index. The fund charges 15 bps in fees. Information Technology, Financials, Health Care and Consumer Discretionary are the top four sectors of the fund (see all Total Market (U.S.) ETFs here).

Why the Move?

Global stocks turned disorderly in recent trading on renewed North Korea tensions and the declining (apparently) political power of the German chancellor Merkel. Though Merkel won the fourth term, it was a relatively weak victory. Meanwhile, the Fed indicated sooner-than-expected policy tightening. All these kept the broader market edgy and boosted this quality ETF.

More Gains Ahead? 

It seems that this fund might stay strong given a positive weighted alpha of 14.40. As a result, there is still some promise for investors who want to ride on this surging ETF.

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