For investors seeking momentum, SPDR NYSE Technology ETF XNTK is probably on the radar. The fund just hit a 52-week high and is up 34.2% from its 52-week low of $162.85 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 of where it might be headed:
XNTK in Focus
SPDR NYSE Technology ETF offers exposure to the leading U.S.-listed technology-related companies. It comprises stocks in the Information Technology sector and technology-related stocks in the Consumer Discretionary sector. SPDR NYSE Technology ETF charges 35 bps in annual fees (see: all the Technology ETFs here).
Why the Move?
The broad technology space has been an area to watch lately, given that investors are cashing in on the beaten-down prices. The recent market decline triggered by DeepSake and Trump tariffs has made stocks and ETFs in the tech sector relatively attractive. This is especially true as tech companies are pouring billions of dollars into building data centers and AI infrastructure that will put them ahead of the competition.
More Gains Ahead?
Currently, XNTK has a Zacks ETF Rank #1 (Strong Buy), suggesting that the outperformance could continue in the months ahead. Many spaces 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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
