For investors seeking momentum, Fidelity Blue Chip Growth ETF (FBCG – Free Report) is probably on the radar. The fund just hit a 52-week high and has moved up 46.4% from its 52-week low of $32.91 per share.
Are more gains in store for this ETF? Let us 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:
FBCG in Focus
Fidelity Blue Chip Growth ETF invests in blue-chip companies (well-known, well-established and well-capitalized), which generally have large or medium market capitalizations. These companies have above-average growth potential (stocks of these companies are often called “growth” stocks). It charges 59 bps in fees per year (see: all the All-Cap Growth ETFs here).
Why the Move?
The blue-chip segment of the broad market has been an area to watch lately due to the surge in tech stocks. Record Q4 revenues and a strong Q1 sales forecast from Foxconn have boosted optimism for AI-fueled growth and the technology sector as a whole.
More Gains Ahead?
FBCG might remain strong, given a weighted alpha of 41.79 and a lower 20-day volatility of 21.23%. There is definitely still some promise for investors who want to ride on this surging ETF.
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