U.S. Markets open in 2 hrs 17 mins

IPO ETF (IPO) Hits New 52-Week High

Sweta Killa
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Travelers (TRV) have what it takes? Let's find out.

For investors seeking momentum, Renaissance IPO ETF IPO is probably on radar now. The fund just hit a 52-week high, and is up 46.5% from its 52-week low price of $21.63 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:

IPO in Focus

This fund provides exposure to the largest and most-liquid newly listed companies by tracking the Renaissance IPO Index. New companies seek inclusion on a fast entry basis on the fifth day of trading. The fund has key holdings in technology and consumer services. It charges investors 60 basis points a year in fees (see: all the All Cap Growth ETFs here).

Why the Move?

The IPO market has been an area to watch lately given the slew of hot and sizzling public offerings like Levi Strauss LEVI, Lyft LYFT, Pinterest PINS, Zoom Video Communications ZM and Beyond Meat Inc BYND.

More Gains Ahead?

It seems that IPO might remain strong given a higher weighted alpha of 16.70% and a low risk as depicted by the 20-day volatility of 13.80%. As a result, there is definitely still some promise for investors, who want to ride on 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 >>
 


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
 
Renaissance IPO ETF (IPO): ETF Research Reports
 
Lyft Inc. (LYFT) : Free Stock Analysis Report
 
Levi Strauss & Co. (LEVI) : Free Stock Analysis Report
 
PINTEREST INC (PINS) : Free Stock Analysis Report
 
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