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For investors looking for momentum, iShares Core S&P Small-Cap ETF (IJR - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 127.8% from its 52-week low price of $47.52/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
IJR in Focus
The fund seeks to track the investment results of an index composed of small-capitalization U.S. equities. IJR has AUM of $66.18 billion and charges 6 basis points in annual fees.
Why the Move?
Small-caps stocks, as indicated by the Russell 2000 Index, have been outperforming the broader market and hitting new all-time highs. The upside is being largely led by small-cap companies that are closely tied to the U.S. economy and thus are well-positioned to outperform when the economy improves. These stocks generally outperform on improvement in the U.S. economy. It is believed that wider coronavirus vaccine rollouts and high chances of another round of fiscal stimulus are making a strong case in favor of faster U.S. economic recovery in 2021. In the current scenario, funds like IJR appear an attractive investment option.
Image: Bigstock
Small-Cap ETF (IJR) Hits a New 52-Week High
For investors looking for momentum, iShares Core S&P Small-Cap ETF (IJR - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 127.8% from its 52-week low price of $47.52/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
IJR in Focus
The fund seeks to track the investment results of an index composed of small-capitalization U.S. equities. IJR has AUM of $66.18 billion and charges 6 basis points in annual fees.
Why the Move?
Small-caps stocks, as indicated by the Russell 2000 Index, have been outperforming the broader market and hitting new all-time highs. The upside is being largely led by small-cap companies that are closely tied to the U.S. economy and thus are well-positioned to outperform when the economy improves. These stocks generally outperform on improvement in the U.S. economy. It is believed that wider coronavirus vaccine rollouts and high chances of another round of fiscal stimulus are making a strong case in favor of faster U.S. economic recovery in 2021. In the current scenario, funds like IJR appear an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong as it has a positive weighted alpha of 70.51, which gives cues of further rally.
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