Back to top

Image: Bigstock

Utilities ETF (RYU) Hits New 52-Week High

Read MoreHide Full Article

For investors looking for momentum, Invesco S&P 500 Equal Weight Utilities ETF RYU is probably on radar now. The fund just hit a 52-week high, and shares of RYU are up roughly 19.7% from their 52-week low price of $77.44/share.

But could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near term outlook to get a better idea on where it might be headed:

RYU in Focus

The fund tracks the S&P 500 Equal Weight Telecommunication Services & Utilities Index. Electric utilities (50.4%) have the highest allocation followed by Multi Utilities (38.7%). It comprises 29 holdings with Scana Corp occupying the top weight (4.4%). The fund charges 40 bps in fees (see: all Utilities/Infrastructure ETFs here).

Why the move?

The markets have been showing great signs of volatility lately. Additionally, with all the uncertainty surrounding trade talks between Washington and Beijing in the G-20 summit, investors flocked toward this safe -haven sector on Friday.

More Gains Ahead?

Currently, RYU has a Zacks ETF Rank #3 (Hold). So there is definitely still some promise for those who want to try to ride 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 >>