Nasdaq ETF (QQQM) Hits New 52-Week High

For investors seeking momentum, Invesco NASDAQ 100 ETF QQQM is probably on the radar. The fund just hit a 52-week high and is up 40% from its 52-week low price of $165.72/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:QQQM in FocusInvesco NASDAQ 100 ETF provides exposure to 105 of the largest domestic and international non-financial companies listed on Nasdaq. It charges 15 bps in annual fees (see: all the Large-Cap Growth ETFs here).Why the Move?Nasdaq has been an area to watch lately, given the surge in the index. Upbeat earnings from the likes of Alphabet GOOGL, Meta Platforms META and others are driving the stock market to record highs. The tech titans have boosted their capital spending plans and pledged to continue investing in artificial intelligence.  More Gains Ahead? Currently, QQQM has a Zacks ETF Rank #1 (Strong Buy), suggesting that the outperformance could continue in the months ahead. However, many spaces 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.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 >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alphabet Inc. (GOOGL): Free Stock Analysis Report Invesco NASDAQ 100 ETF (QQQM): ETF Research Reports Meta Platforms, Inc. (META): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks