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Mid-Cap ETF (IJH) Hits New 52-Week High

For investors seeking momentum, iShares Core S&P Mid-Cap ETF IJH is probably on radar. The fund just hit a 52-week high and is up 91% from its 52-week low price of $117.87 per share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

IJH in Focus

It offers exposure to U.S. mid-cap stocks with key holdings in industrials, information technology, financials, consumer discretionary and healthcare. The fund charges 5 basis points in annual fees (see: all the Mid Cap Blend ETFs here).

Why the Move?

The mid-cap space of the broad U.S. stock market has been an area to watch lately given the surging stock market. While vaccine optimism and stimulus talks are driving investors’ sentiment, surging COVID-19 cases are weighing on stocks. In this scenario, mid-cap funds offer the best of both worlds — growth and stability — when compared to small-cap and large-cap counterparts. Honing in on growth securities at this capitalization level can yield more returns. This is because these are high-quality stocks that see revenues and earnings increasing at a faster rate than the industry average. These stocks harness their momentum in earnings to create a positive bias in the market, resulting in skyrocketing share prices.

More Gains Ahead?

Currently, IJH has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting continued outperformance in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.

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iShares Core S&P MidCap ETF (IJH): ETF Research Reports
 
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