Is First Trust Financials AlphaDEX ETF (FXO) a Strong ETF Right Now?
Overview of First Trust Financials AlphaDEX ETF (FXO): Launched in 2007, FXO is a smart beta ETF that aims to outperform traditional market cap weighted indexes by using the AlphaDEX screening methodology to select stocks based on fundamental characteristics. It has approximately $884.97 million in assets and focuses heavily on the Financials sector.
Performance and Comparison: FXO has shown a year-to-date increase of 14.33% and a one-year gain of 28.10%. While it offers a medium risk profile with a beta of 1.13, investors may also consider lower-cost alternatives like Vanguard Financials ETF (VFH) and Financial Select Sector SPDR ETF (XLF), which have significantly lower expense ratios.
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Analyst Views on FXO
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Our Calculations Show FXO Could Reach $66
ETF Performance Analysis: The First Trust Financials AlphaDEX Fund ETF (FXO) has an implied analyst target price of $65.63, indicating an 11.26% upside from its current trading price of $58.99.
Key Holdings with Upside Potential: Notable underlying holdings such as Schwab Corp, Affiliated Managers Group Inc., and Wells Fargo & Co show significant upside potential based on analyst target prices, with expected increases of 15.63%, 13.28%, and 12.93% respectively.
First Trust Financials AlphaDEX becomes the largest shareholders of Freedom Holding after Timur Turlov
First Trust Financials AlphaDEX Fund Investment: The First Trust Financials AlphaDEX Fund has acquired 185,000 shares of Freedom Holding Corp., making it the second largest shareholder and reflecting confidence in the company's growth potential and investment fundamentals.
Positive Outlook and Recognition: Freedom Holding's business momentum has led to a positive outlook from S&P Global Ratings, and it has been included in the curriculum at Stanford Graduate School of Business, highlighting its significance as a promising player in the financial sector.
Bull Market Ahead for Financial ETFs?
Investor Sentiment in Financial Sector: Investors are becoming increasingly optimistic about the financial sector, with the Dow Jones U.S. Financials Index rising 22.94% over the past year, driven by expectations of interest rate cuts and easing regulations.
Performance of Financial ETFs: Several financial ETFs, including the Financial Select Sector SPDR Fund and Vanguard Financials ETF, have shown strong annual gains, outperforming the S&P 500, while also indicating a positive outlook for major U.S. banks amidst proposed regulatory rollbacks.
Wednesday's ETF with Unusual Volume: FXO
ETF Performance Highlights: On Wednesday, Sofi Technologies saw a 3.7% increase with over 28.8 million shares traded, while Bank of America rose by 0.5% on 16.2 million shares. Proshares Ultra Semiconductors led the gains at 6.8%, whereas Northern Trust declined by 3%.
Market Commentary: The article reflects the author's opinions and does not necessarily represent those of Nasdaq, Inc.
Thursday's ETF with Unusual Volume: FXO
ETF Performance Highlights: On Thursday, Sofi Technologies and Bank of America saw significant trading volumes with increases of 4.2% and 1.9%, respectively, while SLM performed the best at a 4.6% rise, and Tradeweb Markets decreased by 1.1%.
Market Insights: The article emphasizes unusual trading volume in the FXO ETF, reflecting varied performance among its components.
Do Wall Street Analysts Like Huntington Bancshares Stock?
Huntington Bancshares Overview: Huntington Bancshares, a regional bank with a market cap of $25.5 billion, has shown strong stock performance, outperforming the S&P 500 and other financial indices over the past year, despite a recent flat response to its Q3 earnings report.
Analyst Ratings and Price Targets: The consensus among analysts is a "Moderate Buy" for HBAN stock, with RBC Capital raising its price target to $20, indicating potential upside, while overall sentiment on Wall Street has slightly cooled compared to previous months.
Our Calculations Show FXO Could Reach $66
ETF Performance Analysis: The First Trust Financials AlphaDEX Fund ETF (FXO) has an implied analyst target price of $65.63, indicating an 11.26% upside from its current trading price of $58.99.
Key Holdings with Upside Potential: Notable underlying holdings such as Schwab Corp, Affiliated Managers Group Inc., and Wells Fargo & Co show significant upside potential based on analyst target prices, with expected increases of 15.63%, 13.28%, and 12.93% respectively.
First Trust Financials AlphaDEX becomes the largest shareholders of Freedom Holding after Timur Turlov
First Trust Financials AlphaDEX Fund Investment: The First Trust Financials AlphaDEX Fund has acquired 185,000 shares of Freedom Holding Corp., making it the second largest shareholder and reflecting confidence in the company's growth potential and investment fundamentals.
Positive Outlook and Recognition: Freedom Holding's business momentum has led to a positive outlook from S&P Global Ratings, and it has been included in the curriculum at Stanford Graduate School of Business, highlighting its significance as a promising player in the financial sector.
Bull Market Ahead for Financial ETFs?
Investor Sentiment in Financial Sector: Investors are becoming increasingly optimistic about the financial sector, with the Dow Jones U.S. Financials Index rising 22.94% over the past year, driven by expectations of interest rate cuts and easing regulations.
Performance of Financial ETFs: Several financial ETFs, including the Financial Select Sector SPDR Fund and Vanguard Financials ETF, have shown strong annual gains, outperforming the S&P 500, while also indicating a positive outlook for major U.S. banks amidst proposed regulatory rollbacks.
Wednesday's ETF with Unusual Volume: FXO
ETF Performance Highlights: On Wednesday, Sofi Technologies saw a 3.7% increase with over 28.8 million shares traded, while Bank of America rose by 0.5% on 16.2 million shares. Proshares Ultra Semiconductors led the gains at 6.8%, whereas Northern Trust declined by 3%.
Market Commentary: The article reflects the author's opinions and does not necessarily represent those of Nasdaq, Inc.
Thursday's ETF with Unusual Volume: FXO
ETF Performance Highlights: On Thursday, Sofi Technologies and Bank of America saw significant trading volumes with increases of 4.2% and 1.9%, respectively, while SLM performed the best at a 4.6% rise, and Tradeweb Markets decreased by 1.1%.
Market Insights: The article emphasizes unusual trading volume in the FXO ETF, reflecting varied performance among its components.
Do Wall Street Analysts Like Huntington Bancshares Stock?
Huntington Bancshares Overview: Huntington Bancshares, a regional bank with a market cap of $25.5 billion, has shown strong stock performance, outperforming the S&P 500 and other financial indices over the past year, despite a recent flat response to its Q3 earnings report.
Analyst Ratings and Price Targets: The consensus among analysts is a "Moderate Buy" for HBAN stock, with RBC Capital raising its price target to $20, indicating potential upside, while overall sentiment on Wall Street has slightly cooled compared to previous months.
