Energy ETF (DBE) Hits New 52-Week High
Invesco DB Energy ETF DBE is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 76.39% from its 52-week low price of $16.22 per share.
Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.
DBE in Focus
The underlying DBIQ Optimum Yield Energy Index Excess Return Index is designed to reflect the performance of the energy sector. The product charges 0.71% in annual fees (see: all Energy ETFs).
Why the Move?
The energy sector has been an area to watch, given the rise in oil prices due to the ongoing conflict in the Middle East. The closure of the Strait of Hormuz and concerns around supply disruptions have increased oil prices. Prolonged tensions in the Middle East could lead to increased volatility surrounding supply and a further surge in oil prices.
More Gains Ahead?
DBE might continue its strong performance in the near term, with a positive weighted alpha of 67.32 (per Barchart.com), which hints at a rally.
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Invesco DB Energy ETF (DBE): ETF Research Reports
This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
