Value ETF (IWD) Hits New 52-Week High
For investors seeking momentum, iShares Russell 1000 Value ETF IWD is probably on the radar. The fund just hit a 52-week high and is up about 22% from its 52-week low price of $134.09/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:
IWD in Focus
iShares Russell 1000 Value ETF provides exposure to large- and mid-capitalization U.S. equities that exhibit value characteristics. It has key holdings in financials, health care and industrials. RPV charges 18 bps in annual fees (see all the Large-Cap Value ETFs here).
Why the Move?
The value corner of the stock market has been an area to watch lately, given the rotation to value investing ahead of an expected rate hike by the Fed. Value stocks are rebounding as investors are looking for undervalued or underperforming stocks. Additionally, better-than-expected earnings are fueling value stocks higher.
More Gains Ahead?
Currently, IWD has a Zacks ETF Rank #1 (Strong Buy), with a Medium risk outlook, 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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