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Healthcare Providers ETF (IHF) Hits New 52-Week High

The healthcare providers ETF IHF hit a 52-week high. Can it soar higher?

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This story originally appeared on Zacks

For investors seeking momentum, iShares U.S. Healthcare Providers ETF IHF is probably on radar. The fund just hit a 52-week high, and is up 25.4% from its 52-week low of $230.0 per share.

- Zacks

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:

IHF in Focus

The underlying Dow Jones U.S. Select HealthCare Providers Index is free-float adjusted market capitalization-weighted index. It measures the performance of the health care providers sub-sector of the U.S. equity market. It includes health maintenance organizations, hospitals, clinics, dentists, opticians, nursing homes rehabilitation & retirement centers.

Managed Health Care dominates the fund’s portfolio with a 45.5% share, while Health Care Services, and Health Care Facilities round off the next two spots. The ETF charges 42 basis points in fees (see: all Health Care ETFs here).

Why the Move?

As long as the virus threat is around, extra focus on healthcare and biotech stocks is warranted and thus the fund gained. Plus, Healthcare, which generally outperforms during periods of low growth and high uncertainty, garnered investors’ interest due its non-cyclical nature.

More Gains Ahead?

Currently, IHF has a Zacks ETF Rank #3 (Hold). The fund has a positive weighted alpha of 23.35 (per barchart.com), which gives cues of further rally.



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iShares U.S. Healthcare Providers ETF (IHF): ETF Research Reports

 

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