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The Zacks Analyst Blog Highlights QQQ, QQQM, QQEW, FTQI and ONEQ
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For Immediate Release
Chicago, IL – November 22, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: Invesco QQQ (QQQ - Free Report) , Invesco NASDAQ 100 ETF (QQQM - Free Report) , First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW - Free Report) , First Trust Nasdaq BuyWrite Income ETF (FTQI - Free Report) , Fidelity Nasdaq Composite Index Tracking Stock (ONEQ - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
5 ETF Picks for Booming Nasdaq 100 Surge
The Nasdaq-100 Index has been enjoying a huge rally from the start of November and has now hit levels not seen in nearly two years. This surge is primarily driven by the technology sector on high expectations for artificial intelligence and optimism that the Fed will steer the economy to a soft landing. The Index climbed to 16,027, a peak not seen since January 2022 (read: Tech Turns Hot, ETFs Touch New 52-Week Highs).
Investors looking to ride the Nasdaq bulls could consider ETFs like those listed below. These funds may see massive trading volumes in the days ahead, given the bullish fundamentals.
The growing optimism that the Fed may halt rate hikes and avert a recession has renewed investor interest in major technology and internet stocks. According to the CME FedWatch Tool, market participants expect a 95.6% probability that the central bank will keep interest rates at current levels through its January meeting. There is a more than 50% probability of a rate cut of at least 25 bps by May. As the tech sector relies on borrowing for superior growth, it is cheaper to borrow more money for initiatives when interest rates are low.
Companies at the forefront of AI evolution have been the biggest contributors. Both stocks reached a 22-month high in the latest trading session. Nvidia experienced a sharp surge, increasing more than 23% this month as investors anticipate its upcoming earnings report. Microsoft has also seen significant gains, with a nearly 12% increase this month, buoyed by its recent earnings report showcasing revenue growth from products utilizing OpenAI's ChatGPT (read: 5 ETFs to Tap Nvidia Ahead of Q3 Earnings).
The tech industry's gains this year are largely attributed to the excitement surrounding AI advancements, with investors betting on its potential to revolutionize various sectors of corporate America and generate substantial profits.
Invesco QQQ
Invesco QQQ provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Information technology accounts for 57% of the assets, while consumer discretionary makes up for 18.7% share.
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $219.7 billion and an average daily volume of 49 million shares. Invesco QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 (Buy), with a Medium risk outlook.
Invesco NASDAQ 100 ETF
Invesco NASDAQ 100 ETF is identical to QQQ tracking the NASDAQ-100 Index but comes with lower annual fees of 15 bps. It holds 103 securities in its basket, with a higher concentration on the top two firms.
Holding 101 stocks, First Trust NASDAQ-100 Equal Weighted Index Fund provides equal exposure to stocks on the Nasdaq-100 Equal Weighted Index. It has amassed $1.9 billion in its asset base, while it trades in moderate volumes of 124,000 shares a day, on average.
First Trust NASDAQ-100 Equal Weighted Index Fund charges 58 bps in annual fees and carries a Zacks ETF Rank #2, with a Medium risk outlook.
First Trust Nasdaq BuyWrite Income ETF
First Trust Nasdaq BuyWrite Income ETF tracks the Nasdaq 100 Index but employs a buy-write or covered call strategy to generate income. It holds 162 stocks in its basket with double-digit concentration on the top two firms.
First Trust Nasdaq BuyWrite Income ETF has amassed $117.1 million in its asset base and charges 85 bps in fees per year. It trades in an average daily volume of 73,000 shares.
Fidelity Nasdaq Composite Index Tracking Stock
Fidelity Nasdaq Composite Index Tracking Stock tracks the Nasdaq Composite Index, holding a broad basket of 1,027 stocks.
Fidelity Nasdaq Composite Index Tracking Stock has an AUM of $5.2 billion and an average daily volume of 231,000 shares. It charges 21 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights QQQ, QQQM, QQEW, FTQI and ONEQ
For Immediate Release
Chicago, IL – November 22, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: Invesco QQQ (QQQ - Free Report) , Invesco NASDAQ 100 ETF (QQQM - Free Report) , First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW - Free Report) , First Trust Nasdaq BuyWrite Income ETF (FTQI - Free Report) , Fidelity Nasdaq Composite Index Tracking Stock (ONEQ - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
5 ETF Picks for Booming Nasdaq 100 Surge
The Nasdaq-100 Index has been enjoying a huge rally from the start of November and has now hit levels not seen in nearly two years. This surge is primarily driven by the technology sector on high expectations for artificial intelligence and optimism that the Fed will steer the economy to a soft landing. The Index climbed to 16,027, a peak not seen since January 2022 (read: Tech Turns Hot, ETFs Touch New 52-Week Highs).
Investors looking to ride the Nasdaq bulls could consider ETFs like those listed below. These funds may see massive trading volumes in the days ahead, given the bullish fundamentals.
The growing optimism that the Fed may halt rate hikes and avert a recession has renewed investor interest in major technology and internet stocks. According to the CME FedWatch Tool, market participants expect a 95.6% probability that the central bank will keep interest rates at current levels through its January meeting. There is a more than 50% probability of a rate cut of at least 25 bps by May. As the tech sector relies on borrowing for superior growth, it is cheaper to borrow more money for initiatives when interest rates are low.
Companies at the forefront of AI evolution have been the biggest contributors. Both stocks reached a 22-month high in the latest trading session. Nvidia experienced a sharp surge, increasing more than 23% this month as investors anticipate its upcoming earnings report. Microsoft has also seen significant gains, with a nearly 12% increase this month, buoyed by its recent earnings report showcasing revenue growth from products utilizing OpenAI's ChatGPT (read: 5 ETFs to Tap Nvidia Ahead of Q3 Earnings).
The tech industry's gains this year are largely attributed to the excitement surrounding AI advancements, with investors betting on its potential to revolutionize various sectors of corporate America and generate substantial profits.
Invesco QQQ
Invesco QQQ provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Information technology accounts for 57% of the assets, while consumer discretionary makes up for 18.7% share.
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $219.7 billion and an average daily volume of 49 million shares. Invesco QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 (Buy), with a Medium risk outlook.
Invesco NASDAQ 100 ETF
Invesco NASDAQ 100 ETF is identical to QQQ tracking the NASDAQ-100 Index but comes with lower annual fees of 15 bps. It holds 103 securities in its basket, with a higher concentration on the top two firms.
Invesco NASDAQ 100 ETF accumulated $16 billion in its asset base. It trades in an average daily volume of 1.4 million shares. It has a Zacks ETF Rank #2 (read: Wall Street Wins for 3 Straight Weeks: 5 ETFs Near 52-Week High).
First Trust NASDAQ-100 Equal Weighted Index Fund
Holding 101 stocks, First Trust NASDAQ-100 Equal Weighted Index Fund provides equal exposure to stocks on the Nasdaq-100 Equal Weighted Index. It has amassed $1.9 billion in its asset base, while it trades in moderate volumes of 124,000 shares a day, on average.
First Trust NASDAQ-100 Equal Weighted Index Fund charges 58 bps in annual fees and carries a Zacks ETF Rank #2, with a Medium risk outlook.
First Trust Nasdaq BuyWrite Income ETF
First Trust Nasdaq BuyWrite Income ETF tracks the Nasdaq 100 Index but employs a buy-write or covered call strategy to generate income. It holds 162 stocks in its basket with double-digit concentration on the top two firms.
First Trust Nasdaq BuyWrite Income ETF has amassed $117.1 million in its asset base and charges 85 bps in fees per year. It trades in an average daily volume of 73,000 shares.
Fidelity Nasdaq Composite Index Tracking Stock
Fidelity Nasdaq Composite Index Tracking Stock tracks the Nasdaq Composite Index, holding a broad basket of 1,027 stocks.
Fidelity Nasdaq Composite Index Tracking Stock has an AUM of $5.2 billion and an average daily volume of 231,000 shares. It charges 21 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.