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Physical Palladium Shares ETF (PALL) Hits a New 52-Week High
For investors seeking momentum, Aberdeen Standard Physical Palladium Shares ETF (PALL - Free Report) is probably a suitable pick. The fund just hit a 52-week high, up roughly 60.15% from its 52-week low of $165.10/share.
But 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:
PALL in Focus
PALL reflects the performance of the price of palladium, less Trust's expenses. The shares are designed for investors who want a cost-effective and convenient way to invest in physical palladium. PALL charges 60 basis points in fee per year and has AUM of $428.5 million.
Why the Move?
Palladium has been seeing strong demand in the manufacturing of industrial products. The metal is used for catalytic converters in gasoline-powered cars. Meanwhile, the markets have been long grappling with a supply crunch of palladium.
More Gains Ahead?
It seems PALL might remain strong given a positive weighted alpha of 43.26.
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