For investors looking for momentum, Invesco Dynamic Large Cap Value ETF (PWV - Free Report) is probably a suitable pick. The fund just hit a 52-week high, up roughly 33% from its 52-week low of $30.64/share.
But does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
PWV in Focus
The fund is based on the Dynamic Large Cap Value Intellidex Index. It will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to provide capital appreciation, while maintaining consistent stylistically accurate exposure. PWV is charging 55 bps in fees. The fund has amassed $1.03 billion in AUM.
Why the Move?
Wall Street recently touched new highs on optimism surrounding the Sino-U.S. trade war talks, release of some encouraging U.S. economic data and a decent earnings season. In such a scenario, large-cap value funds are gaining popularity among investors.
More Gains Ahead?
Currently, PWV has a Zacks Rank #2 (Buy). Moreover, it seems PWV might remain strong given a positive weighted alpha of 18.7.
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