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U.S. Large-Cap ETF (FTC) Hits a New 52-Week High

Zacks Equity Research
Some investors are rotating out of earlier high flying technology stocks into cheap emerging markets.

Investors seeking momentum may have First Trust Large Cap Growth AlphaDEX Fund FTC on the radar now. The fund recently hit a new 52-week high. Shares of FTC are up approximately 30.2% from a 52-week low of $51.63/share.

But are more gains in the cards for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

FTC in Focus

FTC focuses on providing exposure to the large-cap space of the U.S. equity market. The fund charges 62 basis points in fee per year and has AUM of $802.5 million (see all Large-Cap ETFs here).

Why the move?

The U.S. economy added 313,000 jobs in February — the highest since July 2016 — compared with a Reuters forecast of 200,000. However, tepid wage growth reduced fears of an aggressive rate hiking spree by the Fed. Average hourly earnings in the United States grew a mere 0.1% in February compared with 0.3% in the previous month. The recent weakness in wage growth has introduced some calm with respect to faster-than-expected rate hikes and led to a rally in the market.

More Gains Ahead?

FTC has a weighted alpha of 29.40. Moreover, the fund has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook. So, there is a promising outlook ahead for those who want to ride this surging ETF a shade further.

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