For investors seeking momentum, Bahl & Gaynor Small/Mid Cap Income Growth ETF SMIG is probably on the radar now. The fund just hit a 52-week high and jumped 17.8% from its 52-week low price of $27.66 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.
SMIG in Focus
This is an active fund that offers exposure to dividend-paying U.S.-listed equity securities of small/mid capitalization companies. The product charges 60 basis points (bps) in annual fees (See: Style Box-All Cap Value- ETFs here).
What Led to the Rise?
With investors worried about massive capital investment in AI, many have pulled capital out of overvalued technology stocks, and defensive value sectors have found immense support lately. SMIG’s focus on high-quality, dividend-paying small and mid-cap equities made it an ideal haven, which must have enabled it to reach a new 52-week peak.
More Gains Ahead?
SMIG may continue its strong performance in the near term, with a positive weighted alpha of 15.29 (as per Barchart.com), which suggests a further rally.
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This article originally published on Zacks Investment Research (zacks.com).