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Dow Jones Industrial Average ETF (DIA) Hits A New 52-Week High

By Zacks Investment ResearchStock MarketsDec 21, 2019 07:30AM ET
www.investing.com/analysis/dow-jones-industrial-average-etf-dia-hits-a-new-52week-high-200494199
Dow Jones Industrial Average ETF (DIA) Hits A New 52-Week High
By Zacks Investment Research   |  Dec 21, 2019 07:30AM ET
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For investors seeking momentum, SPDR Dow Jones Industrial Average (NYSE:DIA) ETF Trust (TSXV:DIA) is probably a suitable pick. The fund just hit a 52-week high, up roughly 31.1% from its 52-week low of $216.97/share.

But does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

DIA in Focus

The fund is based on the Dow Jones Industrial Average that is composed of 30 "blue-chip" U.S. stocks. DIA is charging 17 bps in fees. The fund has amassed $22.58 billion in AUM.

Why the Move?

All the three major U.S. bourses are scaling new all-time highs. The Sino-US trade deal optimism and rounds of upbeat economic data are the major drivers behind the upside. Notably, the world’s two largest economies, United States and China, recently announced agreeing on a phase-one trade deal. Within the trade pact, the United States has agreed to lower its 15% tariff to 7.5% on about $120 billion worth of Chinese goods. The country has also indefinitely suspended tariffs on roughly $160 billion of Chinese consumer goods, scheduled to be imposed on Dec 15. Moreover, the upbeat jobs report, positive U.S. housing data and encouraging manufacturing updates are hinting toward a healthier economy. These factors have raised the optimism among investors, making the fund an attractive pick.

More Gains Ahead?

Currently, DIA has a Zacks Rank #1 (Strong Buy). Moreover, it seems DIA might remain strong given a positive weighted alpha of 24.10.

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SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports

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Dow Jones Industrial Average ETF (DIA) Hits A New 52-Week High
 

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Dow Jones Industrial Average ETF (DIA) Hits A New 52-Week High

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