For investors who are looking for momentum, SPDR Dow Jones REIT ETF (RWR – Free Report) is likely on the radar. The fund just hit a 52-week high, up roughly 48.5% from its 52-week low of $ 74.34 / share.
But are there more profits in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better idea of where it might be going:
RWR in focus
He provides exposure to the broad US real estate sector with key positions in office REITs, residential REITs, retail REITs, and healthcare REITs. The ETF charges 25 basis points in annual fees.
Why the move?
The real estate corner of the broad market has been an area to watch out for lately. Low interest rates from the reluctant Fed and fears of the Delta variant of Covid-19 have kept interest rates low and stimulated interest-sensitive sectors such as real estate.
The rise in accommodation costs is also a plus for real estate stocks and ETFs. Rising home prices have also boosted demand for rental apartments. The labor market is far from stable. This means that demand for rental property from middle- and low-income consumers is likely to remain strong.
More profits ahead?
RWR currently has a Zacks ETF Rank # 3 (Hold) with a medium risk outlook. The fund has a positive weighted alpha of 44.86. So the outlook is bright for those looking to take this emerging ETF a step further.