Technology ETF (IGV) Hits a New 52-Week High
The technology ETF hit a 52-week high lately. Can this soar higher?
For investors looking for momentum, iShares Expanded TechSoftware Sector ETF IGV is probably a suitable pick. The fund just hit a 52-week high and is up 42.5% from its 52-week low of $291.89/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed in future:
IGV in Focus
The underlying S&P North American Expanded Technology Software Index comprises of North American equities in the software industry and select North American equities from interactive home entertainment and interactive media and services industries. It charges 43 basis points in annual fees.
Why the Move?
Fears of delta variant of COVID-19 are causing higher demand for the tech stocks as these are winning ones amid the stay-at-home trend. The new lifestyle continue to boost various corners of the technology sector, ranging from enterprise cloud computing, cyber security, remote communications, video gaming and e-commerce to online payments.
More Gains Ahead?
The fund has a positive weighted alpha of 31.57, which gives cues of further rally.
Tech IPOs With Massive Profit Potential
In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names.
For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way…
If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November.
With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>
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iShares Expanded TechSoftware Sector ETF (IGV): ETF Research Reports
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