Yahoo Finance Online Retail ETF (ONLN) Hits New 52-Week High
For investors seeking momentum, ProShares Online Retail ETF ONLN is probably on the radar. The fund just hit a 52-week high and is up about 41% from its 52-week low price of $28.50/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:
ONLN in Focus
ProShares Online Retail ETF offers exposure to companies that principally sell online or through other non-store channels and then zeroes in on companies that reshape the retail space. It charges 58 bps in annual fees (see: all the Consumer Discretionary ETFs here).
Why the Move?
The online retail corner of the broad consumer discretionary sector has been an area to watch lately, given the robust first-quarter 2024 results from Amazon AMZN. The e-commerce giant beat both earnings and revenue estimates driven by growth in its advertising and AI-powered cloud computing business. Amazon makes up for the top firm in ONLN with 24% of assets.
More Gains Ahead?
ONLN might remain strong, given a weighted alpha of 38.70 and a higher 20-day volatility of 26%. There is definitely still some promise for investors who want to ride on this surging ETF.
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ProShares Online Retail ETF (ONLN): ETF Research Reports
