Yahoo Finance Long-Short ETF (BTAL) Hits New 52-Week High
For investors seeking momentum, AGFiQ US Market Neutral Anti-Beta Fund BTAL is probably on the radar. The fund just hit a 52-week high of $21.39 from its 52-week low price of $16.59/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
BTAL in Focus
AGFiQ US Market Neutral Anti-Beta Fund has the potential to generate positive returns regardless of the direction of the stock market as long as low-beta stocks outperform high beta stocks. It invests primarily in long positions in low beta U.S. equities and short positions in high beta U.S. equities on a dollar-neutral basis within sectors. AGFiQ US Market Neutral Anti-Beta Fund seeks to deliver the spread return between low and high-beta stocks. The expense ratio of the fund is 1.43%.
Why the Move?
The long-short corner of the broad ETF world has been an area to watch lately, given the heightened volatility and uncertainty. Amid concerns over inflation and potential shifts in Federal Reserve policy, stocks have faced challenges recently. On Thursday, remarks from Atlanta Fed president Raphael Bostic reinforced worries about interest rate cuts not happening until the end of the year. Amid such a scenario, investing in long-short ETFs seems prudent as it offers ways to seek profits and protection simultaneously.
More Gains Ahead?
The fund has a negative weighted alpha of 5.03. So, there is not a great outlook ahead for those who want to ride this surging.
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AGF U.S. Market Neutral Anti-Beta Fund (BTAL): ETF Research Reports
