Schwab US Large-Cap Growth ETF Hits A New 52-Week High At $159
The Schwab US Large-Cap Growth ETF (SCHG) has reached a new 52-week high earlier today as it built on its recent momentum
SCHG Reaches A New 52-Week High
The Schwab US Large-Cap Growth ETF has been performing excellently in recent weeks. The fund’s performance saw it reach a new 52-week high earlier today after hitting the $159 mark. The rally to $159 means that SCHG is now up by 42.7% from its 52-week low price of $110.76 per share.
The ETF seeks to track the total returns of the Dow Jones Large-Cap Growth Total Stock Market Index. It tracks this index as closely as possible, excluding fees and expenses. SCHG invests in stocks that are usually found in the Dow Jones Large-Cap Growth Total Stock Market Index.
SCHG’s rally was caused by the general growth in the United States stock market in recent weeks. The S&P 500 attained new all-time highs thanks to the better-than-expected third-quarter corporate earnings across the country.
The earnings reported by 117 S&P 500 companies so far are up by 46.2% from the same quarter last year. The revenues also grew by 16.3% from the same period last year. Currently, 85.5% of the S&P 500 companies that have reported their Q3 earnings have surpassed EPS estimates, while 73.5% of them have topped the revenue estimates.
SCHG Could Rally Higher
At the time of writing, SCHG is up by 0.43% since the US market opened and is now trading at $158.73 per share. The ETF’s price could rally higher if it maintains the current momentum. Year-to-date, the ETF is 23.98%, while its 1-year price is up by 36.39%.
Currently, SCHG is ranked #2 on Zack (with a Buy rating). The medium-risk outlook for the fund means that analysts are optimistic that it could continue to outperform in the coming months. As such, it could rally past the $160 level over the coming days or weeks.