Consumer Staples ETF (FSTA) Hits New 52-Week High

Fidelity Consumer Staples MSCI ETF FSTA is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 18.52% from its 52-week low price of $40.28/share.

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.

FSTA in Focus

The underlying MSCI USA IMI Consumer Staples Index represents the performance of the consumer staples sector in the U.S. equity market. The product charges 8 bps in annual fees (see: all Consumer Staples ETFs).

Why the Move?

The consumer staples sector has been an area to watch lately, given the uncertainty surrounding the timing of the Fed rate cuts. The consumer staples sector is viewed as defensive as it includes a variety of items like food & beverages, and non-durable household goods that are essential for daily needs. Escalating geopolitical tensions, which are decreasing the risk appetite of investors, also bode well for the sector.

More Gains Ahead?

Currently, FSTA has a Zacks ETF Rank #3 (Medium) and a Medium risk outlook. However, it might continue its strong performance in the near term, with a positive weighted alpha of 5.60, which gives cues of a further rally.

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 report

Fidelity MSCI Consumer Staples Index ETF (FSTA): ETF Research Reports

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.