Dow Jones ETF (DIA) Hits a New 52-Week High

For investors seeking momentum,State Street SPDR Dow Jones Industrial Average ETF Trust DIA is probably on the radar. The fund just hit a 52-week high and is up 24.71% from its 52-week low price of $419.62/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:DIA in FocusThe underlying Dow Jones Industrial Average comprises 30 blue-chip U.S. stocks. The product charges 16 bps in annual fees (see: all the Large Cap Value ETFs here).Why the Move?The large-cap segment of the U.S. stock market has been in focus lately, with the Dow Jones reaching a record high as investors rotated away from chipmakers amid declining oil prices. Additionally, robust bank earnings and compelling valuations in the financial sector helped drive gains in large-cap stocks.More Gains Ahead?Currently, DIA has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook. It might continue its strong performance in the near term, with a positive weighted alpha of 23.15 (as per Barchart.com), which gives cues of a further rally.Boost Your Portfolio with Our Top ETF InsightsZacks' exclusive Fund Newsletter delivers actionable information, top news and analysis, as well as top-performing ETFs, straight to your inbox every week.Don’t miss out on this valuable resource. It’s free!Get it now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks