For investors seeking momentum, the T. Rowe Price U.S. Equity Research ETF TSPA is probably on the radar now. The fund just hit a 52-week high and has jumped 32.4% from its 52-week low price of $34.17 per share.
But are there more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better sense of where it might head.
TSPA in Focus
The fund seeks to provide long-term capital growth. The product charges 34 basis points (bps) in annual fees (See: All Style Box-All Cap Blend ETFs here).
What Led to the Rise?
TSPA recently reached a new 52-week high, primarily fueled by its heavy concentration in "Magnificent Seven" stocks, capitalizing on the explosive AI hardware rally. Beyond tech, the fund also likely benefited from a massive surge in the energy sector during the first quarter, on account of rising geopolitical tensions and supply shocks, which helped it reach the peak.
More Gains Ahead?
TSPA may continue its strong performance in the near term, with a positive weighted alpha of 25.00 (as per Barchart.com), which suggests a further rally.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
