Schwab US REIT ETF (SCHH) Sets a New 2021 High
2021 is coming to an end, but the financial market continues to perform well, with exchange-traded funds (ETFs) leading the charge.
SCHH Rallies to a New Yearly High
The Schwab US REIT ETF (SCHH) has reached a new 2021 high despite the year coming to an end in a few days. The fund has been performing excellently since the start of the year and recently hit a new milestone.
The fund was launched by asset management firm Schwab and is designed to track, before fees and expenses, the total return of the Dow Jones Equity All REIT Capped Index. The index comprises United States real estate investment trusts classified as equities.
SCHH is one of the leading funds in the real estate sector, with the ETF investing 100% of its portfolio in real estate stocks. The ETF has more than $6 billion in assets under management, making it one of the largest real estate funds.
SCHH rallied to a new 52-week at $50.93 after its excellent performance earlier today.
Schwab US REIT ETF has Performed Excellently in 2021
The Schwab US REIT ETF is one of the best performing real estate funds in 2021. The ETF has added more than 30% to its value since the start of the year, surpassing numerous funds in this category.
The recent rally was fueled by the fast-spreading new COVID-19 variant Omicron, rising inflation and the Fed’s hawkish signal. Investors are seeking safe-haven assets, and real estate ETFs have become good options.
At press time, SCHH is trading at $50.02, down by less than 1% from the 52-week high it recorded earlier today. The ETF’s technical indicators show that SCHH is performing excellently at the moment.
The MACD line is above the neutral zone and has been there for the past few months. Furthermore, the RSI of 54 shows that SCHH is heading into the oversold territory, both signs of a bullish performance. At press time, SCHH is trading above its 100-day moving average of $48.14.
If SCHH can maintain its current performance, then its value could touch the $55 resistance level over the coming trading sessions.
This article was originally posted on FX Empire
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