Investors seeking momentum may have First Trust Health Care AlphaDEX ETF (FXH Quick QuoteFXH - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of FXH are up approximately 50.3% from their 52-week low of $60.70/share.

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

FXH in Focus

The underlying StrataQuant Health Care Index employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index. FXH charges investors 62 basis points in fees per year (see all Healthcare ETFs here).

Why the move?

The healthcare sector has been performing well lately on rising vaccine hopes. The World Health Organization has recognised some 10 prime candidates for these potential coronavirus vaccines as these have entered clinical trials. Plus, 114 candidate vaccines are in preclinical evaluation stage. 

More Gains Ahead?

Currently, FXH has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. So, it is difficult to get a handle on its future returns one way or another. The fund has a positive weighted alpha of 26.80. So, there is a decent outlook ahead.

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