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U.S. Dollar Bullish Fund (USDU) Hits a 52-Week High

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The WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU - Free Report) is probably a suitable pick for investors looking for momentum. USDU has hit a 52-week high and is up 12.5% from its 52-week low price of $24.88/share.

Let’s take a look at USDU and its near-term outlook to gauge where it might be headed.

USDU in Focus

The WisdomTree Bloomberg U.S. Dollar Bullish Fund seeks to provide total returns, before expenses, that exceed the performance of the Bloomberg Dollar Total Return Index. It has AUM of $520.6 million and charges an expense ratio of 50 basis points.

Why the Move?

The greenback is seeing increasing demand as a safe-haven asset on expectations of an aggressive Fed, controlling rising inflation levels. Rising COVID-19 cases in China and uncertainty surrounding the Russia-Ukraine conflict are adding to the safe-haven appeal of the U.S. dollar. It has also recently touched the 20-year high mark. This is making funds like USDU an impressive investment option.

More Gains Ahead?

It seems like the WisdomTree Bloomberg U.S. Dollar Bullish Fund will remain strong, with a positive weighted alpha of 11.89, which gives cues of a further rally.

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