See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Amplify Transformational Data Sharing ETF (BLOK) - free report >>
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.
Amplify Transformational Data Sharing ETF (BLOK) - free report >>
Image: Bigstock
Blockchain ETF (BLOK) Hits New 52-Week High
For investors seeking momentum, Amplify Transformational Data Sharing ETF (BLOK - Free Report) ) is probably on radar. The fund just hit a 52-week high and is up 275.2% from its 52-week low of $13.04 per 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 on where it might be headed:
BLOK in Focus
The Amplify Transformational Data Sharing ETF is an actively managed ETF that seeks to provide total return by investing at least 80% of its net assets in the equity securities of companies actively involved in the development and utilization of transformational data sharing technologies. The fund charges 70 bps in annual fees (see all technology ETFs here).
Why the Move?
Tesla’s latest investment of $1.5 billion, which makes it the first biggest company yet to show support for the other-wise controversial cryptocurrency, boosted the blockchain ETF. This is because these companies are like crypto innovators. Per a source, “the blockchain in Bitcoin literally acts a ledger; it keeps track of the balances for all users and updates them as money changes hands.”
More Gains Ahead?
The fund has a positive weighted alpha of 193.22. 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>>