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Mid Cap ETF (CZA) Hits New 52-Week High
For investors seeking momentum, Invesco Zacks Mid-Cap ETF (CZA - Free Report) is probably on radar now. The fund just hit a 52-week high and is up about 12.7% from its 52-week low price of $61.75/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:
CZA in Focus
This fund targets the mid-cap segment of the broader stock market, with key holdings in financials and industrials with double-digit allocation each. It holds a well-diversified portfolio of 100 stocks in its basket. The fund is quite expensive, charging 68 basis points in annual fees (see: all the Mid Cap ETFs here).
Why the Move?
The mid-cap space of the broad U.S. stock market has been an area to watch lately given the escalating tit-for-tat tariff that has raised the market volatility. However, a booming economy and strong corporate earnings are acting as the key catalysts to the stock market. In such a scenario, mid-cap funds offer the best of both worlds — growth and stability — when compared to large and small-cap counterparts.
More Gains Ahead?
It seems that CZA might remain strong given a high weighted alpha of 12% and a low 20-day volatility of 5.66%. As a result, there is definitely still some promise for investors who want to ride on this surging ETF a little further.
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