Aerospace & Defense ETF (MISL) Touches New 52-Week High
For investors seeking momentum, First Trust Indxx Aerospace & Defense ETF MISL is probably on the radar now. The fund just hit a 52-week high and is up 89.5% from its 52-week low price of $26.46 per share.
But are there more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better sense of where it might head.
MISL in Focus
It offers exposure to U.S. companies engaged in business activities associated with certain aerospace and defense sub-themes. The fund charges 60 basis points (bps) in annual fees (See: all Industrial ETFs here).
What Led to the Rise?
U.S. President Trump’s proposed $1.5 trillion military budget, marking a staggering 50% increase, is likely the primary catalyst behind growth in the MISL fund, helping it reach a new 52-week high. Additionally, intense geopolitical tensions in Venezuela and the Middle East have been solidifying investor confidence in defense stocks, which must have also boosted this fund’s momentum lately.
More Gains Ahead?
MISL may continue its strong performance in the near term, with a positive weighted alpha of 67.90 (as per Barchart.com), which suggests a further rally.
Boost Your Portfolio with Our Top ETF Insights
Zacks' exclusive Fund Newsletter delivers actionable information, top news and analysis, as well as top-performing ETFs, straight to your inbox every week.
Don’t miss out on this valuable resource. It’s free!
Get it now >>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
First Trust Indxx Aerospace & Defense ETF (MISL): ETF Research Reports
This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
