U.S. Markets closed

Dividend Aristocrats ETF (NOBL) Hits a 52-Week High

Sanghamitra Saha

For investors seeking momentum, ProShares S&P 500 Dividend Aristocrats ETF NOBL is probably on radar. The fund just hit a 52-week high and is up 25.4% from its 52-week low price of $56.79 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:

NOBL in Focus

The underlying S&P 500 Dividend Aristocrats Index targets companies that are currently members of the S&P 500, have increased dividend payments each year for at least 25 years & meet certain market capitalization & liquidity requirements. The fund charges 35 bps in fees and yields about 1.96% annually.

Why the Move?

Since markets have been volatile lately due to U.S.-China trade relations, bond yields have been hovering at lower levels. Also, there are talks that the Fed may cut rates in September. This is a great scenario for quality ETFs like dividend aristocrats. These provide hedge against economic uncertainty and are high-quality in nature.

More Gains Ahead?

The fund has a positive weighted alpha of 9.30. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer, especially if uncertainty prevails.

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 >>


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
 
ProShares S&P 500 Dividend Aristocrats ETF (NOBL): 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