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Shipping ETF (BDRY) at a New 52-Week High

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For investors looking for momentum, Breakwave Dry Bulk Shipping ETF (BDRY - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 408.2% from its 52-week low price of $6.10/share.

Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

BDRY in Focus

The fund provides long exposure to the dry bulk shipping market through a portfolio of near-dated freight futures contracts on dry bulk indices. It has AUM of $93.3 million and charges 3.32% in annual fees.

Why the Move?

The demand for shipping is high considering the improvement in global economic growth and a commodity boom from easing COVID-led restrictions. These factors are leading to very high freight rates. The space is also getting support from easy monetary and fiscal policies, supply-chain issues caused due to COVID-19 and higher demand from e-commerce companies.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 219.21, which gives cues of further rally.


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