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For investors seeking momentum, BlackRock Short Maturity Bond ETF (NEAR - Free Report) is probably on radar. The fund just hit a 52-week high and is up 1.47% from its 52-week low price of $48.99/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:
NEAR in Focus
The actively managed fund seeks to maximize current income by diversified exposure to short-term bonds. NEAR has an effective duration of 0.49 years and weighted average maturity of 1.19 years. The product charges 25 bps in annual fees.
Why the Move?
The regional banking crisis in the United States, along with increasing market volatility due to rising geopolitical tensions and creeping recessionary fears are increasing the appeal of the fund as a safe haven investment option. In an environment of high interest rates, short-term bonds offer low interest rate risk.
More Gains Ahead?
Currently, the fund has a positive weighted alpha of 0.80, hinting at more gains and a strong performance in the future.
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