For investors seeking momentum, the iShares International Dividend Growth ETF (IGRO) is probably on the radar now. The fund just hit a 52-week high and is up 24.4% from its 52-week low price of $65.60 per share.
But are there 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 head.
IGRO in Focus
It offers exposure to international stocks with a sustained history of growing their dividends. The fund charges 15 basis points (bps) in annual fees (See: all World ETFs here).
What Led to the Rise?
Strong performance in international markets relative to the United States — particularly in regions such as China and parts of Europe — along with continued investor interest in international income-generating ETFs, has likely been boosting dividend growth ETFs like IGRO. In particular, the tech-driven surge in China and institutional and regulatory support in Europe might have resulted in a fresh 52-week high for IGRO.
More Gains Ahead?
IGRO may continue its strong performance in the near term, with a positive weighted alpha of 17.27 (as per Barchart.com), which suggests a further rally.
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iShares International Dividend Growth ETF (IGRO): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).
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