We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Investors seeking momentum may have SPDR S&P Transportation ETF (XTN - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of XTN are up approximately 89.9% from their 52-week low of $35.96/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
XTN in Focus
The fund looks to provide exposure to the transportation segment of the S&P TMI, comprises the following sub-industries: Air Freight & Logistics, Airlines, Airport Services, Highways & Rail Tracks, Marine, Marine Ports & Services, Railroads, and Trucking. It charges 35 bps in fees.
Why the move?
Transportation stocks (one of the main victims of the coronavirus crisis) have been trying to bounce back on a rebound in travel demand. Better consumer confidence and some federal aid also boosted the space in the past six months.
However, the recent rise in virus cases and no further stimulus once again started to bother the fund. But latest news that a Pfizer (PFE) and BioNTech (BNTX) vaccine candidate was more than 90% effective in avoiding COVID-19 in its clinical trial offered a fresh lease of hope to the space and the fund.
More Gains Ahead?
The fund has a positive weighted alpha of 14.30. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Transportation ETF (XTN) Hits New 52-Week High
Investors seeking momentum may have SPDR S&P Transportation ETF (XTN - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of XTN are up approximately 89.9% from their 52-week low of $35.96/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
XTN in Focus
The fund looks to provide exposure to the transportation segment of the S&P TMI, comprises the following sub-industries: Air Freight & Logistics, Airlines, Airport Services, Highways & Rail Tracks, Marine, Marine Ports & Services, Railroads, and Trucking. It charges 35 bps in fees.
Why the move?
Transportation stocks (one of the main victims of the coronavirus crisis) have been trying to bounce back on a rebound in travel demand. Better consumer confidence and some federal aid also boosted the space in the past six months.
However, the recent rise in virus cases and no further stimulus once again started to bother the fund. But latest news that a Pfizer (PFE) and BioNTech (BNTX) vaccine candidate was more than 90% effective in avoiding COVID-19 in its clinical trial offered a fresh lease of hope to the space and the fund.
More Gains Ahead?
The fund has a positive weighted alpha of 14.30. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >