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ProShares S&P 500 Dividend Aristocrats ETF (NOBL) - free report >>
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ProShares S&P 500 Dividend Aristocrats ETF (NOBL) - free report >>
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Dividend Aristocrats ETF (NOBL) Hits a 52-Week High
For investors seeking momentum, ProShares S&P 500 Dividend Aristocrats ETF (NOBL - Free Report) is probably on radar. The fund just hit a 52-week high and is up 25.4% from its 52-week low price of $56.79 per 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:
NOBL in Focus
The underlying S&P 500 Dividend Aristocrats Index targets companies that are currently members of the S&P 500, have increased dividend payments each year for at least 25 years & meet certain market capitalization & liquidity requirements. The fund charges 35 bps in fees and yields about 1.96% annually.
Why the Move?
Since markets have been volatile lately due to U.S.-China trade relations, bond yields have been hovering at lower levels. Also, there are talks that the Fed may cut rates in September. This is a great scenario for quality ETFs like dividend aristocrats. These provide hedge against economic uncertainty and are high-quality in nature.
More Gains Ahead?
The fund has a positive weighted alpha of 9.30. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer, especially if uncertainty prevails.
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