Invesco S&P 500 Equal Weight Health Care ETF RSPH is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and jumped 29.5% from its 52-week low price of $29.56 per share.
Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook to get a better idea of where it might head.
RSPH in Focus
This fund offers exposure to health care stocks that are part of the S&P 500 Index. The product charges 40 basis points in annual fees (You can see all Healthcare ETFs here).
Why the Move?
The RSPH ETF’s rise to the latest 52-week high reflects broad strength across the healthcare sector. Resilient demand for healthcare services, solid quarterly earnings performance, and growing investor appetite for defensive, value-oriented sectors amid broader macroeconomic uncertainty likely provided the momentum that pushed the fund to a new 52-week peak.
More Gains Ahead?
RSPH might continue its strong performance in the near term, with a positive weighted alpha of 30.33 (per Barchart.com), which hints at a rally.
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Invesco S&P 500 Equal Weight Health Care ETF (RSPH): ETF Research Reports
This article originally published on Zacks Investment Research (zacks.com).