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The Invesco Dynamic Leisure and Entertainment ETF (PEJ) keeps attracting capital as buyers position for an economic comeback, says Invesco’s John Hoffman.
ETFs to Watch as Travel, Entertainment Spending Improve April 26, 2021
Investors can consider leisure sector-related exchange traded funds as American Express is pointing to rising travel and entertainment spending.
American Express is seeing consumer spending start to normalize as the economy reopens and Covid-19 infection rates decline. Specifically, spending on travel and entertainment categories jumped by 40% in March over February, while bookings through American Express Travel surged by 50% in the first quarter compared to the fourth quarter, the Wall Street Journal reports.
Chief Financial Officer Jeffrey Campbell also said the number of people signing up for the company’s co-branded cards with Delta Air Lines Inc. increased 90% for the quarter compared to the fourth quarter. He argued that here is an inflection point around the improving economy and increase in vaccinations.
Already Up 130%, This ETF Is Set to Soar Post-COVID March 17, 2021
With coronavirus vaccinations increasing and many consumers flush with cash courtesy of Uncle Sam, reopening stocks are rallying. That’s good news for the
PEJ is based on the Dynamic Leisure & Entertainment Intellidex℠ Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index.
The Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Index is comprised of common stocks of 30 US leisure and entertainment companies. The Invesco ETF is hot, jumping 8.45% over the past week.