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Corn ETF (CORN) Hits 52-Week High
For investors looking for momentum, Teucrium Corn ETF (CORN - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 74.5% from its 52-week low price of $11.52/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
CORN in Focus
The CBOT Corn Futures Contract looks to reflect the daily changes of a weighted average of the closing prices for three futures contracts for corn that are traded on the CBOT. The expense ratio is 2.47% annually.
Why the Move?
Corn prices have been on an uptrend lately thanks toChina’s record corn imports due to crop failures and insufficient state reserves that have weighed on available global corn supplies. Plus, a subdued greenback has kept the overall commodity investing charged-up.
More Gains Ahead?
The fund has a positive weighted alpha of 77.91. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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