Biotech ETF (BBC) Hits New 52-Week High
Virtus LifeSci Biotech Clinical Trials ETF BBC is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 138.3% from its 52-week low price of $13.42/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.
BBC in Focus
The underlying LifeSci Biotechnology Clinical Trials Index is an equal weighted index that is designed to measure the equity market performance of the common stock of U.S. exchange-listed biotechnology companies with a primary product offering that is in a Phase 1, Phase 2 or Phase 3 clinical trial stage of development. The product charges 79 bps in annual fees.
Why the Move?
Biotech stocks have rebounded lately. Regulatory tailwinds, Fed rate-cut hopes, and cheaper valuations have helped the space make a comeback.
More Gains Ahead?
The ETF BBC might continue its strong performance in the near term, with a positive weighted alpha of 38.31 (per barchart.com), which gives cues of 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
Virtus LifeSci Biotech Clinical Trials ETF (BBC): ETF Research Reports
This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
