【how many frats are at penn state】Precious Metal ETF (GLDW) Hits New 52-Week High
时间:2024-09-29 08:23:23 出处:Exploration阅读(143)
For investors seeking momentum,how many frats are at penn state the
SPDR Long Dollar Gold Trust
GLDW is probably on radar. The fund just hit a 52 week-high and shares of GLDW are up roughly 14.1% from their 52-week low price of $113.95/share.
But could more gains be in store for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea on where it might be headed:
GLDW in Focus
The fund tracks the Solactive GLD Long USD Gold Index, representing the daily performance of a long position in physical gold and a short position in the basket comprising euro, Japanese yen, British pound sterling, Canadian dollar, Swedish krona and Swiss franc. It charges 50 bps as annual fees (see:all the Precious Metals ETFs here).
Why the move?
The Fed kept the policy rate unchanged in the Jan 29-30 meet and is likely to be patient with further rate hikes, which led to a fall in greenback against the basket of major currencies. This increased the attractiveness of the non-yielding gold bullion whose prices generally follow an opposite trend in comparison to the U.S. dollar. Moreover, easing global economic growth is making investors flock toward safe haven assets.
More Gains Ahead?
Currently, GLDW has a high positive weighted alpha of 9.85, indicating outperformance in the days ahead. However, a moderate 20-day Historical Volatility of 6.33% asks for vigilance on part of investors.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
View comments
上一篇: EXPLAINER-Why automakers are on a drive to sell electric cars in Europe
下一篇: S.Korea's Moon replaces ministers as sinking ratings put policy agenda at risk
猜你喜欢
- Platinum Group Metals Ltd. Completes At-The-Market Offering
- NYSE: REZI Shareholder Notice: Lawsuit against Resideo Technologies, Inc. announced by Shareholders Foundation
- J.C. Penney announces locations of 154 stores closing across the US
- Trump slams Fed's coronavirus response as 'slow,' renews calls for lower interest rates
- EXPLAINER-Why is Israel holding its third election in a year?
- Key Things To Understand About Peyto Exploration & Development's (TSE:PEY) CEO Pay Cheque
- Uber in advanced talks to sell air taxi unit: Axios
- EPR Properties: 3Q Earnings Snapshot
- Are Insiders Buying Arena Events Group plc (LON:ARE) Stock?