For investors seeking momentum, iShares Residential Real Estate Capd ETF (REZ - Free Report) is probably on radar now. The fund just hit a 52-week high and is up nearly 26.6% from its 52-week low price of $53.83/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.
REZ in Focus
The fund follows the FTSE NAREIT All Residential Capped Index. The fund holds 44 stocks in total. Public Storage REIT, Welltower Inc and Avalonbay Communities Reit Inc are the top three stocks of the fund. The product charges 48 bps in fees (see all Real Estate ETFs here).
Why the Move?
With the Fed adopting a dovish stance to further rate hikes, U.S. treasury yields have been hovering at lower levels. This has helped the rate-sensitive real estate ETF like REZ.
More Gains Ahead?
The fund has a Zacks ETF Rank #3 (Hold). Thus, it is hard to get a handle over its future move. The fund has a positive weighted alpha of 20.50. So, the fund may see some uptrend in the near future.
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