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 and is up about 20% from its 52-week low price of $16.15/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 product charges 2.53% in annual fees (see: all the Long-Short ETFs here).
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 triggered by the war in Ukraine. Additionally, the potential Fed rate hike in its FOMC meeting (slated to start today) and a fresh round of restrictions to curb the spread of COVID-19 in China have added to the chaos in the market. Amid such a scenario, investing in long-short ETFs seems prudent as it offers wayas to seek profits and protection simultaneously.
More Gains Ahead?
It seems that BTAL might remain strong given a weighted alpha of 19.20 and a lower risk as depicted by the 20-day volatility of 20.9%. As a result, there is still some promise for investors who want to ride on this surging ETF a little further.
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AGFiQ US Market Neutral AntiBeta ETF (BTAL): ETF Research Reports
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