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iShares U.S. Healthcare ETF (IYH) Hits New 52-Week High

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For investors seeking momentum, iShares U.S. Healthcare ETF (IYH - Free Report) is probably on radar now. The fund just hit a 52-week high and is up nearly 27.7% from its 52-week low price of $137.30/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:

IYH in Focus

This fund looks to track the performance of the healthcare sector of the U.S. equity market. The fund is tilted toward the Pharmaceuticals sector with about 33.7% exposure, followed by Biotechnology (24.5%). Johnson & Johnson, Pfizer Inc and Unitedhealth Group Inc are the top three stocks of the fund. The net expense ratio of the fund is 0.44% (see Health Care ETFs here).

Why the Move?

The fund benefited from the upbeat earnings from Johnson & Johnson and Unitedhealth Group released lately. UnitedHealth Group comfortably beat the Zacks Consensus Estimate on membership growth. Johnson & Johnson also beat the Zacks Consensus Estimate for both earnings and sales. Both stocks gained considerably after earnings.

More Gains Ahead? 

The fund has a Zacks Rank #2 (Buy). It seems that this fund might stay strong given a positive weighted alpha of 21.40. As a result, there is still some promise for investors who want to ride on this surging ETF.

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