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.
Wall Street has been hovering around a record high and witnessing remarkable growth across various sectors, with several growth ETFs reaching or nearing their 52-week highs. This trend indicates a broad-based recovery and investor confidence in specific market segments.
In this article, we'll explore four key ETF areas that are currently shining: Semiconductor, Shipping, Nordic Region and Taiwan. These ETFs not only reflect robust market performance but also present intriguing opportunities for investors looking to capitalize on prevailing market trends.
Let's delve a little deeper.
Semiconductor
Strive U.S. SemiconductorETF (SHOC - Free Report) – Up 3.1% on May 28
On Tuesday, chipmaker NVIDIA’s (NVDA - Free Report) stock surged above $1,100 for the first time, reaching a new milestone. Elon Musk's artificial intelligence startup, xAI, announced on Sunday that it had successfully raised $6 billion in a Series B funding round. Reports suggest that Elon Musk intends to deploy NVIDIA chips for a new "supercomputer" aimed at powering xAI's chatbot named Grok. This news sent the NVIDIA stock and NVIDIA ETFs like SHOC, SMH and SOXQ soaring.
Shipping
U.S. Global Sea to Sky Cargo ETF (SEA - Free Report) – Up 2.9%
SonicShares Global Shipping ETF (BOAT - Free Report) – Up 2.4%
Shipping stocks have recently surged to new highs, but their long-term performance is even more remarkable. Over the past five years, larger-cap shipping stocks have outperformed the S&P 500 by a factor of two to 10.
As a result, insider wealth from shipping ownership has increased by hundreds of millions of dollars. Geopolitical tensions in the Red Sea, a crucial area for international trade, have sparked a significant shift in the shipping industry, which offered a bullish case for global shipping stocks.
Global X FTSE Nordic Region ETF (NORW - Free Report) – Up 1.4%
Energy stocks take about 30% of both funds and hence depend largely on oil price movements. On May 28, 2024, crude oil prices increased by more than $1 per barrel. This rise was driven by expectations that OPEC and its allies (OPEC+) will continue their current crude supply restrictions, along with a weaker U.S. dollar, which made oil more appealing to investors holding other currencies. United States Brent Oil Fund LP (BNO - Free Report) has added 16.7% so far this year (as of May 28, 2024).
In both the above-mentioned ETFs, information technology takes more than 60% exposure. The top companies of these two ETFs are Taiwan Semiconductor (a key beneficiary of the latest AI boom), Hon Hai Precision and Mediatek. Understandably, the flurry of AI investment has continued to boost optimism over Taiwanese Chip companies’ growth rates.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
4 ETF Areas Hovering Around 52-Week Highs
Wall Street has been hovering around a record high and witnessing remarkable growth across various sectors, with several growth ETFs reaching or nearing their 52-week highs. This trend indicates a broad-based recovery and investor confidence in specific market segments.
In this article, we'll explore four key ETF areas that are currently shining: Semiconductor, Shipping, Nordic Region and Taiwan. These ETFs not only reflect robust market performance but also present intriguing opportunities for investors looking to capitalize on prevailing market trends.
Let's delve a little deeper.
Semiconductor
Strive U.S. Semiconductor ETF (SHOC - Free Report) – Up 3.1% on May 28
VanEck Semiconductor ETF (SMH - Free Report) – Up 2.3%
Invesco PHLX Semiconductor ETF (SOXQ - Free Report) – Up 2.1%
On Tuesday, chipmaker NVIDIA’s (NVDA - Free Report) stock surged above $1,100 for the first time, reaching a new milestone. Elon Musk's artificial intelligence startup, xAI, announced on Sunday that it had successfully raised $6 billion in a Series B funding round. Reports suggest that Elon Musk intends to deploy NVIDIA chips for a new "supercomputer" aimed at powering xAI's chatbot named Grok. This news sent the NVIDIA stock and NVIDIA ETFs like SHOC, SMH and SOXQ soaring.
Shipping
U.S. Global Sea to Sky Cargo ETF (SEA - Free Report) – Up 2.9%
SonicShares Global Shipping ETF (BOAT - Free Report) – Up 2.4%
Shipping stocks have recently surged to new highs, but their long-term performance is even more remarkable. Over the past five years, larger-cap shipping stocks have outperformed the S&P 500 by a factor of two to 10.
As a result, insider wealth from shipping ownership has increased by hundreds of millions of dollars. Geopolitical tensions in the Red Sea, a crucial area for international trade, have sparked a significant shift in the shipping industry, which offered a bullish case for global shipping stocks.
Nordic Region
Norway iShares MSCI ETF (ENOR - Free Report) – Up 1.7%
Global X FTSE Nordic Region ETF (NORW - Free Report) – Up 1.4%
Energy stocks take about 30% of both funds and hence depend largely on oil price movements. On May 28, 2024, crude oil prices increased by more than $1 per barrel. This rise was driven by expectations that OPEC and its allies (OPEC+) will continue their current crude supply restrictions, along with a weaker U.S. dollar, which made oil more appealing to investors holding other currencies. United States Brent Oil Fund LP (BNO - Free Report) has added 16.7% so far this year (as of May 28, 2024).
Taiwan
Taiwan Franklin FTSE ETF (FLTW - Free Report) – Up 1.4%
Taiwan iShares MSCI ETF (EWT - Free Report) – Up 1.2%
In both the above-mentioned ETFs, information technology takes more than 60% exposure. The top companies of these two ETFs are Taiwan Semiconductor (a key beneficiary of the latest AI boom), Hon Hai Precision and Mediatek. Understandably, the flurry of AI investment has continued to boost optimism over Taiwanese Chip companies’ growth rates.