U.S. Markets open in 8 hrs 15 mins

Mid-Cap ETF (PXMG) Hits New 52-Week High

Sweta Killa
Faster share price rally over the past year gives IQVIA Holdings (IQV) an edge over Delphi Technologies (DLPH).

For investors seeking momentum, Invesco Russell MidCap Pure Growth ETF PXMG is probably on radar now. The fund just hit a 52-week high and is up about 35.6% from its 52-week low price of $41.22/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:

PXMG in Focus

PXMG provides exposure to the mid-cap securities with strong growth characteristics selected from the Russell Midcap Index. It has key holdings in information technology, consumer discretionary, healthcare and industrials. The fund charges 39 basis points in annual fees (see: all the Mid Cap ETFs here).

Why the Move?

The mid-cap space of the broad U.S. stock market has been an area to watch lately given that the bull market is turning nine with the S&P 500 resuming its 2,800 mark and the Dow Jones back to above 26,000. Though optimism over trade deal has clearly bolstered investor sentiment, bouts of weak economic data, geopolitical tensions as well as global slowdown concerns remain an overhang. In this scenario, mid-cap funds offer the best of both worlds – growth and stability – when compared to small-cap and large-cap counterparts.

More Gains Ahead?

Currently, PXMG has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting that the outperformance could continue in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank, 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 >>


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
 
Invesco Russell MidCap Pure Growth ETF (PXMG): 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