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Simplify Interest Rate Hedge ETF (PFIX) Hits New 52-Week High
For investors seeking momentum, Simplify Interest Rate Hedge ETF (PFIX - Free Report) is probably on radar. The fund just hit a 52-week high and is up 136.7% from its 52-week low price of $37.38/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:
PFIX in Focus
The Simplify Interest Rate Hedge ETF seeks to hedge interest rate movements arising from rising long-term interest rates, and to benefit from market stress when fixed income volatility increases, while providing the potential for income. The ETF charges 50 bps in annual fees.
Why the Move?
The interest rate hedge corner of the fixed-income market has been an area to watch lately due to rising interest rates. Investors are flocking to PFIX to combat rising rate worries. The Fed is likely to hike rates by another 75 bps in November.
More Gains Ahead?
Currently, PFIX might remain strong given a positive weighted alpha of 140.66. As a result, there is definitely still some promise for investors who want to ride on this surging ETF.