Dividend Aristocrats ETF (NOBL) Hits a 52-Week High

For investors seeking momentum, ProShares S&P 500 Dividend Aristocrats ETF NOBL is probably on radar. The fund just hit a 52-week high and is up 25.4% from its 52-week low price of $56.79 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 on where it might be headed:

NOBL in Focus

The underlying S&P 500 Dividend Aristocrats Index targets companies that are currently members of the S&P 500, have increased dividend payments each year for at least 25 years & meet certain market capitalization & liquidity requirements. The fund charges 35 bps in fees and yields about 1.96% annually.

Why the Move?

Since markets have been volatile lately due to U.S.-China trade relations, bond yields have been hovering at lower levels. Also, there are talks that the Fed may cut rates in September. This is a great scenario for quality ETFs like dividend aristocrats. These provide hedge against economic uncertainty and are high-quality in nature.

More Gains Ahead?

The fund has a positive weighted alpha of 9.30. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer, especially if uncertainty prevails.

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ProShares S&P 500 Dividend Aristocrats ETF (NOBL): ETF Research Reports

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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.

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