Real Estate ETF (IYR) Hits New 52-Week High
For investors seeking momentum, iShares US Real Estate ETF IYR is probably on radar now. The fund just hit a 52-week high, which is up roughly 17.95% from its 52-week low price of $71.27/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:
IYR in Focus
The fund looks to the price and yield performance of Dow Jones U.S. Real Estate Index. The fund has American Tower, Simon Property Group and Crown Castle International REIT as its top three holdings. It charges 43 bps in fees (see all Real Estate ETFs here).
Why the Move?
Dovish Fed comments have kept long-term U.S. Treasury bond yields at subdued level this year. This boosted rate-sensitive sectors like real estate.
More Gains Ahead?
The fund has a Zacks Rank #3 (Hold). Also, the fund has a positive weighted alpha of 14.90, which hints at more gains. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.
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
iShares U.S. Real Estate ETF (IYR): 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
