Shell ETF (SHEH) Touches Fresh 52-Week High

For investors seeking momentum, Shell plc – ADRhedged SHEH is probably on the radar now. The fund just hit a 52-week high and is up 42.2% from its 52-week low price of $43.91 per share.But are more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better sense of where it might be headed.SHEH in FocusIt is an active fund that seeks to provide investment results that correspond generally, before fees and expenses, to the total return of the ordinary shares of Shell plc in its local market. The product charges an annual fee of 19 basis points (bps) (see All Single-Stock ETFs here).What Led to the Rise?A surge in global oil prices, observed over the past week, owing to the geopolitical tensions in the Middle East and the closure of the Strait of Hormuz, boosted Shell’s share price and, in turn, must have pushed SHEH to a new 52-week high.  Currency hedging may also have enhanced returns for the fund’s dollar-based investors amid foreign exchange volatility in the global market.More Gains Ahead?SHEH may continue its strong performance in the near term, with a positive weighted alpha of 32.50 (as per Barchart.com), which suggests 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 >>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 reportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks