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Long/Short ETF (BTAL) Hits New 52-Week High

Applied Industrial Technologies, Inc. (AIT) has been struggling lately, but the selling pressure may be coming to an end soon.

For investors seeking momentum, AGFiQ US Market Neutral Anti-Beta Fund BTAL is probably on radar now. The fund just hit a 52-week high, which is up roughly 20.5% from its 52-week low price of $18.31/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 on where it might be headed:

BTAL in Focus

The underlying Dow Jones U.S. Thematic Market Neutral Anti-Beta Index is a long/short market neutral index that is dollar-neutral. The fund charges 75 bps in fees (see all Long-Short ETFs here).

Why the Move?

Since markets have been volatile lately and there has been a bloodbath in the global market owing mainly to rising rate worries and concerns about waning global growth, this defensive ETF has gained strength.

More Gains Ahead?

The fund has a positive weighted alpha of 17.00. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer, especially if uncertainty prevails.

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QS-US MN AN-BET (BTAL): ETF Research Reports
 
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