|Bid||69.72 x 900|
|Ask||69.73 x 2900|
|Day's Range||69.48 - 70.02|
|52 Week Range||55.16 - 72.97|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.09|
|Expense Ratio (net)||0.10%|
Cheaper valuation, better earnings growth prospects, solid performance in Stress Test, dividend hike announcements and less chances of a rate cut should position financial ETFs in a good spot in 2H.
The Federal Reserve gave banks the green light to offer more payouts to investors after 18 of the largest financial firms passed the second round of stress tests designed to assess the health of the financial system. For financial sector bulls, this could boost the Direxion Daily Financial Bull 3X ETF (FAS) . FAS seeks daily investment results worth 300 percent of the daily performance of the Russell 1000 Financial Services Index.
The S&P 500 Financials Sector index is up over 17 percent year-to-date thanks to better-than-expected earnings in the first quarter from banks. “I would go back to XLF, and here’s why,” said Tim Seymour, founder and chief investment officer of Seymour Asset Management, during CNBC’s “Fast Money.” “You have the money center banks, which make up 35% of this ETF, and then you have Berkshire Hathaway, which, frankly, I think you could strip out of there.
A slight flattening of the yield curve may hurt bank stocks' profitability, but underwriting of several unicorn IPOs should help these financial ETFs.
The financial sector and bank ETFs may continue to gain momentum as the better-than-expected fourth quarter results and improving outlook help lift sentiment on this cheap segment of the market. Goldman ...
The Direxion Daily Financial Bull 3X ETF (NYSEArca: FAS) gained 5.62 percent on Wednesday as banks like Goldman Sachs and Bank of America reported positive earnings in what’s been a sold start to 2019 ...
Earnings beat prospect in Q4 for banks may be bleak, but a steepening yield curve and cheaper valuation could boost bank ETFs in the near term.
The capital markets were hoping for doves before Christmas, but it was on Dasher, on Prancer and on with more rate hikes by the Fed on Wednesday. As such, financial exchange-traded funds (ETFs) declined on the notion that more rate hikes could hurt business in 2019. Financial Select Sector SPDR (XLF) fell 1.25 percent, the SPDR S&P Bank ETF (KBE) dropped 2.64 percent and the Vanguard Financials ETF (VFH) shed 1.52 percent.
The U.S. equity rally is beginning to lose steam and investors should not expect markets to maintain their breakneck spurt of yesteryear. Nevertheless, traders may still find value in some battered sectors ...