For investors looking for momentum, iPath Bloomberg Cocoa Subindex Total Return ETN is probably a suitable pick. The fund just hit a 52-week high — up roughly 31% from its 52-week low of $23.77/share.
Does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
NIB in Focus
The iPath Bloomberg Cocoa Subindex Total Return ETN is designed to provide exposure to the Bloomberg Cocoa Subindex Total Return. The fund charges 70 bps in fees (see all Agricultural ETFs here).
Why the Move?
Strengthening global demand for cocoa has been pushing prices higher. The holiday season is probably driving demand as it is a season for baked and other treats and is thus exerting upward pricing pressure on confection and beverage commodities.
More Gains Ahead?
The fund also has a positive weighted alpha of 26.00, which gives cues of further rally.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors looking for momentum, iPath Bloomberg Cocoa Subindex Total Return ETN is probably a suitable pick. The fund just hit a 52-week high — up roughly 31% from its 52-week low of $23.77/share.
Does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
NIB in Focus
The iPath Bloomberg Cocoa Subindex Total Return ETN is designed to provide exposure to the Bloomberg Cocoa Subindex Total Return. The fund charges 70 bps in fees (see all Agricultural ETFs here).
Why the Move?
Strengthening global demand for cocoa has been pushing prices higher. The holiday season is probably driving demand as it is a season for baked and other treats and is thus exerting upward pricing pressure on confection and beverage commodities.
More Gains Ahead?
The fund also has a positive weighted alpha of 26.00, which gives cues of further rally.
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>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>