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For investors seeking momentum, US Treasury 3 Month Bill ETF (TBIL - Free Report) is probably on the radar. The fund hit a 52-week high and is up 0.57% from its 52-week low price of $49.82/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:
TBIL in Focus
US Treasury 3 Month Bill ETF aims to provide exposure to the current US 3 Month Treasury Bill. It tracks the ICE BofA US 3-Month Treasury Bill Index and seeks to make monthly dividend payments more frequent than those of the underlying security. US Treasury 3 Month Bill ETF charges 15 bps in annual fees (see: all the Government Bond ETFs here).
Why the Move?
The short-term corner of the Treasury market has been an area to watch lately, given the current stock market weakness. The U.S. credit rating downgrade, multiple bank downgrades and the Fed’s hawkish signal have made investors jittery, compelling them to hoard cash. As such, the appeal for cash-like ETFs has been on the rise as investors seek to mitigate the risk of a decline in the stock market.
More Gains Ahead?
Currently, TBIL might continue its strong performance, given its weighted alpha of 0.57 and a low 20-day volatility of 0.32%.
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