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Value ETF (VAMO) Hits New 52-Week High
For investors seeking momentum, Cambria Value and Momentum ETF (VAMO - Free Report) is probably on radar. The fund just hit a 52-week high and is up 25% from its 52-week low of $21.87 per 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:
VAMO in Focus
Cambria Value and Momentum ETF is an actively managed ETF providing exposure to a portfolio of companies that focus on all three factors — value, momentum, and tactical hedging — with the added benefit of lower volatility and protection from market downturns. It invests in 100 stocks with market cap greater than $200 million that rank among the highest in value as well as momentum factors. The product then has the ability to hedge up to 100% of the portfolio based on the top-down objective assessments of stock valuations and market trends. Cambria Value and Momentum ETF charges 64 basis points in fees (see: all the Cap Value ETFs).
Why the Move?
The value segment of the broad U.S. market has been an area to watch lately, given the bouts of volatility and uncertainty in the stock market.
More Gains Ahead?
It seems that VAMO might remain strong given its weighted alpha of 19.70 and a 20-day volatility of 25.93%. As a result, there is definitely still some promise for investors who want to ride on this surging ETF a little further.