For investors seeking momentum, Invesco S&P SmallCap Consumer Discretionary ETFPSCD is probably on the radar now. The fund just hit a 52-week high and is up nearly 37.7% from its 52-week low price of $50.36/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.
PSCD in Focus
The fund tracks the S&P SmallCap 600 Capped Consumer Discretionary Index, which reflects the performance of common stocks of US consumer discretionary companies. The fund holds 102 stocks in total. No stock accounts for more than 2.88% of the fund. The product charges 29 bps in fees (see all consumer discretionary ETFs here).
Why the Move?
The consumer discretionary sector has been an area to watch lately. Greater spending along with solid economic data from a jobs perspective is creating a great situation for those in the consumer segment. Also, the small-cap segment has been outperforming this year given the strength in the U.S. dollar, trade tensions and geopolitical worries. Economic well-being at the domestic land is seen as beneficial for small-cap stocks. As a result, this small-cap consumer discretionary ETF has hit a high lately.
More Gains Ahead?
The fund has a Zacks Rank #2 (Buy). It seems that the fund will perform decently in the near term given a positive weighted alpha of 32.30 .
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 >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportPWRSH-SP SC C D (PSCD): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report