While the market continues to trade sideways, investors are getting behind a group of exchanged traded funds they believe will move higher. Here are three ETFs that may be ready to pop.
CNBC Pro used a proprietary method to scan these fast-trading funds for the ones that have increasing money flows and whose member stocks have a bright outlook.
Using data from ETF.com and FactSet, we first ran a screen of more than 500 ETFs focused on different sectors and slices of the market in order to find the funds with spikes in volume over the last five days.
Once we narrowed the list, we calculated the average 12-month return for a typical stock in the ETF based on the consensus Wall Street price target estimate for each individual member.
Below are the three funds, along with some of their stock holdings, that should see the biggest gains due to a boost in short-term money flow and as their individual members reach bottom-up projections.