For investors seeking momentum, SPDR Portfolio S&P 500 ETF SPLG is probably on the radar. The fund just hit a 52-week high and is up 23.5% from its 52-week low of $58.06 per share.
But are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
SPLG in Focus
iShares Core S&P 500 ETF tracks the S&P 500 Index with key holdings in the information technology, financials, consumer discretionary and healthcare sectors accounting for a double-digit allocation each. The ETF charges 2 bps in annual fees (see: all the Large-Cap Blend ETFs here).
Why the Move?
The large-cap corner of the broad investing world has been an area to watch lately, given that the S&P 500 Index is trading near all-time highs despite the global trade war fears. Renewed gains in tech stocks, delays in new U.S. tariffs and strong corporate earnings are driving U.S. stocks higher.
More Gains Ahead?
Currently, SPLG has a Zacks ETF Rank #1 (Strong Buy), suggesting that the outperformance could continue in the months ahead. However, many sectors that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want 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 >>SPDR Portfolio S&P 500 ETF (SPLG): ETF Research Reports
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
