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For investors seeking momentum, Teucrium Sugar Fund (CANE - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 43% from its 52-week low price of $8.56/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:
CANE in Focus
Teucrium Sugar Fund provides investors with an easy way to gain exposure to the price of sugar futures in a brokerage account. It charges investors 22 bps a year in fees (see: all the Agricultural ETFs here).
Why the Move?
The sugar segment of the broad commodity ETF investing world has been an area to watch lately, given the rise in price for the commodity. Raw sugar surged to a fresh six-year high on tight global supply conditions. Slower production in India and lackluster supplies from other countries, including Pakistan and Thailand, have threatened the sugar output.
More Gains Ahead?
Currently, CANE might remain strong given a weighted alpha of 34.80 and higher 20-day volatility of 19.9%. As a result, there is definitely still some promise for investors, who want to ride on this surging ETF.
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