U.S. markets closed
  • S&P 500

    -0.81 (-0.02%)
  • Dow 30

    -55.20 (-0.16%)
  • Nasdaq

    -50.19 (-0.36%)
  • Russell 2000

    -9.69 (-0.43%)
  • Crude Oil

    +0.09 (+0.15%)
  • Gold

    0.00 (0.00%)
  • Silver

    -0.02 (-0.07%)

    +0.0001 (+0.01%)
  • 10-Yr Bond

    +0.0090 (+0.54%)

    +0.0013 (+0.10%)

    -0.0130 (-0.01%)

    -75.17 (-0.13%)
  • CMC Crypto 200

    -6.03 (-0.47%)
  • FTSE 100

    -26.63 (-0.39%)
  • Nikkei 225

    -229.33 (-0.77%)

Buyback ETF (PKW) Hits New 52-Week High

  • Oops!
    Something went wrong.
    Please try again later.
Sanghamitra Saha
  • Oops!
    Something went wrong.
    Please try again later.

For investors seeking momentum, Invesco Buyback Achievers ETF PKW is probably on radar now. The fund hit a 52-week high, and is up about 29.6% from its 52-week low price of $48.95/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:

PKW in Focus    

This ETF provides exposure to the NASDAQ US BuyBack Achievers Index. The index comprises of US securities issued by corporations that have effected a net reduction in shares outstanding of 5% or more in the trailing 12 months. The fund has top holdings in Citigroup, Cisco Systems and Apple. The fund charges 63 bps in fees (see all Style Box - Large Cap Value ETFs here).

Why the Move?

Buyback activity has been on a tear of late. S&P Dow Jones Indices announced that preliminary fourth-quarter 2018 S&P 500 stock buybacks touched a fourth successive record of $223.0 billion. This beat the previous record of $203.8 billion created during Q3 of 2018 and also marks a 62.8% increase the year-ago period. The upbeat momentum has been benefitting the buyback ETF.

More Gains Ahead?

The fund has a positive weighted alpha of 12.30. So, there is definitely some promise for those who want to ride this surging ETF a little 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 >>

Is your investment advisor fumbling your financial future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.” Click to get your free report.
Invesco BuyBack Achievers ETF (PKW): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report