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Healthcare ETF (IHF) Hits New 52-Week High

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For investors seeking momentum, iShares U.S. Healthcare Providers ETF (IHF - Free Report) is probably on radar now. The fund just hit a 52-week high, which is up roughly 31.9% from its 52-week low price of $139.65/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:

IHF in Focus    

The fund offers exposure to a basket of healthcare provider companies. The fund charges investors 44 basis points a year in fees and has top holdings Unitedhealth Group, Anthem and CVS Health Corp (see all Healthcare ETFs here).

Why the Move?

Healthcare has been one of the best-performing sectors lately thanks to its non-cyclical nature, which provides a defensive tilt to the fund’s portfolio in a volatile market caused by trade war fear. Also, upbeat earnings from one of the top player UnitedHealth Group, rising M&A and a positive regulatory backdrop have helped the fund.

More Gains Ahead?

The fund has a Zacks Rank #2 (Buy) and a positive weighted alpha of 27.70. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.

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