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Medical ETF (MEDX) Touches New 52-Week High

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Key Takeaways

  • MEDX touched a new 52-week high, rising 49.9% from its $23.46 low.
  • The ETF targets patented first-line pharma and biologics, charging 85 bps in fees.
  • A 28.43 weighted alpha signals potential for further near-term gains.

For investors seeking momentum, the Horizon Kinetics Medical ETF (MEDX - Free Report) is probably on the radar now. The fund just hit a 52-week high and is up 49.9% from its 52-week low price of $23.46 per share.  

But are there more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better sense of where it might head.

MEDX in Focus

The fund provides exposure to patented first-line pharmaceuticals and biologics companies. The fund charges 85 basis points (bps) in annual fees (See: all Healthcare ETFs here).

What Led to the Rise?

Strong performance of the healthcare sector, specifically in specialized pharmaceutical and biotech areas, must have led MEDX to touch a new 52-week high now.  Additionally, the fund’s concentrated focus on "patented first-line" pharmaceuticals is likely to have paid off, particularly through its double-digit weighting in Eli Lilly, which currently dominates the GLP-1 market.

More Gains Ahead?

MEDX may continue its strong performance in the near term, with a positive weighted alpha of 28.43 (as per Barchart.com), which suggests a further rally.

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etfs medical