Invesco Dynamic Building & Construction ETF Continues its Upward Movement

The infrastructure sector of the United States economy has been performing excellently thanks to President Biden’s focus on the area. This has allowed stocks and exchange-traded funds (ETFs) in the sector to rally so far this year.

Invesco Dynamic Building & Construction ETF Remains a Strong Fund

The Invesco Dynamic Building & Construction ETF (PKB) is one of the best-performing funds in the construction sector of the US market. The fund has been around since 2005 and provides investors broad exposure to the Industrials ETFs category of the market.

PKB currently has nearly $300 million in assets under management, making it one of the average-sized funds in the Industrials ETFs. The fund is managed by asset manager Invesco and seeks to match the performance of the Dynamic Building & Construction Intellidex Index before fees and expenses.

The index comprises stocks of US building and construction companies. PKB has performed excellently since the start of the year. Year-to-date, PKB’s value has increased by more than 28%, making it one of the top performers in the market. The fund could rally higher if the current market momentum is maintained.

PKB Could Target the $60 Mark Soon

PKB continues to perform excellently as the construction sector of the US economy blossoms. At press time, PKB is trading at $54.41 per share, up by more than 1.8% since the US market opened a few hours ago.

The MACD line is well above the neutral zone, indicating bullish momentum for the Invesco Dynamic Building & Construction ETF. The RSI of 63 shows that the ETF is heading into the overbought region.

If the current market momentum is maintained, then PKB could rally towards the $60 level over the coming trading sessions. An extended rally before the end of the year would allow the Invesco Dynamic Building & Construction ETF to make a move for the $65 mark.

Operating expenses on an annual basis for the fund are 0.60% for PKB, which is similar to most ETFs in the space. PKB has a 12-month trailing dividend yield of 0.22%.