From Nasdaq: 2024-05-08 12:25:00

Stock buybacks are on the rise, with companies announcing over $383 billion in repurchases, up 30% from last year. Apple leads the pack with a $110 billion buyback, followed by Alphabet’s $70 billion and Uber’s first-ever $7 billion repurchase. BP plc also plans to buy back $3.5 billion in shares.

The surge in buybacks reflects corporate confidence in the U.S. economy. With strong earnings reports, the S&P 500 is set for 5% growth in Q1 EPS, the biggest increase in nearly two years. Share buybacks boost EPS and stock prices, signaling undervalued stocks and attracting more investors.

Invesco BuyBack Achievers ETF (PKW) tracks companies with share reductions of 5% or more in the past year. It holds 203 stocks, with top sectors being consumer discretionary and financials. PKW is a popular fund with AUM of $1.1 billion and an average daily volume of 19,000 shares, charging an annual fee of 62 bps.



Read more at Nasdaq: Tap the Stock Buyback Trend With PKW ETF