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 seeking momentum, United States Oil Fund (USO - Free Report) is probably on radar now. The fund just hit a 52-week high and is up about 58.5% from its 52-week low price of $9.00/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:
USO in Focus
This fund seeks to match the performance of the spot price of West Texas Intermediate (WTI or U.S. crude). USO's benchmark is the near month crude oil futures contract traded on the NYMEX. If the near month futures contract is within two weeks of expiration, the benchmark will be the next month contract to expire. USO charges 0.76% in expense ratio (see: all the Energy ETFs here).
Why the Move?
The energy corner of the broad investing world has been an area to watch lately given the spike in oil price. U.S. crude oil gained more than 20% in the first half of 2018 buoyed by soaring demand, reducing supplies from Venezuela, Libya and Canada, threats of supply disruption from Iran as a result of sanctions, and of course the historic output cut deal between the OPEC, Russia and other producers.
More Gains Ahead?
The ETF might remain strong given a high weighted alpha of 60.50% and a mediocre 20-day volatility of 29.28%. As a result, there is definitely still some promise for investors who want to ride on 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
Energy ETF (USO) Hits New 52-Week High
For investors seeking momentum, United States Oil Fund (USO - Free Report) is probably on radar now. The fund just hit a 52-week high and is up about 58.5% from its 52-week low price of $9.00/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:
USO in Focus
This fund seeks to match the performance of the spot price of West Texas Intermediate (WTI or U.S. crude). USO's benchmark is the near month crude oil futures contract traded on the NYMEX. If the near month futures contract is within two weeks of expiration, the benchmark will be the next month contract to expire. USO charges 0.76% in expense ratio (see: all the Energy ETFs here).
Why the Move?
The energy corner of the broad investing world has been an area to watch lately given the spike in oil price. U.S. crude oil gained more than 20% in the first half of 2018 buoyed by soaring demand, reducing supplies from Venezuela, Libya and Canada, threats of supply disruption from Iran as a result of sanctions, and of course the historic output cut deal between the OPEC, Russia and other producers.
More Gains Ahead?
The ETF might remain strong given a high weighted alpha of 60.50% and a mediocre 20-day volatility of 29.28%. As a result, there is definitely still some promise for investors who want to ride on 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 >>