For investors seeking momentum, Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF GSLC is probably on radar now. The fund just hit a 52-week high and is up about 20% from its 52-week low price of $48.05/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:
GSLC in Focus
This fund seeks to offer exposure to the large-cap stocks, with four well-established attributes of performance: good value, strong momentum, high quality and low volatility. It has key holdings in information technology, healthcare, consumer discretionary and financials. The fund charges 9 basis points in annual fees (see: all the Large Cap ETFs here).
Why the Move?
The large-cap space of the braod U.S. stock market has been an area to watch lately given the optimism on the trade talks between the world’s two largest economies and signs of stabilization in Turkey’s currency market. Solid Q2 corporate earnings, historic tax cuts and an accelerating economy are raising optimism on the economy, leading to gains in the stock market.
More Gains Ahead?
Currently, GSLC has a Zacks ETF Rank #3 (Hold) with a Medium 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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GOLDMAN ACTBETA (GSLC): ETF Research Reports
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