Yahoo Finance Global ETF (IOO) Hits New 52-Week High
For investors seeking momentum, iShares Global 100 ETF IOO is probably on radar. The fund just hit a 52-week high and is up 24% from its 52-week low of $58.45 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 of where it might be headed:
IOO in Focus
iShares Global 100 ETF offers exposure to a broad range of large international companies in developed and emerging markets. It holds 102 stocks in its basket with double-digit concentration on the top two firms. iShares Global 100 ETF charges 40 bps in annual fees (see: all the World ETFs here).
Why the Move?
The global broad investing world has been an area to watch lately, given bouts of volatility and uncertainty in the stock market. Concerns over a slowdown in economic growth, the Fed’s next move on interest rate and corporate earnings are making investors jittery.
More Gains Ahead?
Currently, IOO has a Zacks ETF Rank #3 (Hold) with a Low risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, 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 Global 100 ETF (IOO): ETF Research Reports
