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Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) - free report >>
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Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) - free report >>
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Ultra Short-Term Bond ETF (GBIL) Hits New 52-Week High
For investors seeking momentum, Goldman Sachs Access Treasury 0-1 Year ETF (GBIL - Free Report) is probably on radar. The fund just hit a 52-week high and is up 0.05% from its 52-week low price of $100.02/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:
GBIL in Focus
Goldman Sachs Access Treasury 0-1 Year ETF provides exposure to U.S. Treasury Obligations with a maximum remaining maturity of one year through an easy access vehicle. It has an average maturity of 0.36 years and an effective duration of 0.35 years. The product charges 12 bps in annual fees (see: all the Government Bond ETFs here).
Why the Move?
The short-term corner of the Treasury market has been an area to watch lately, given the current stock market turmoil. Banking woes and huge uncertainty over the Fed’s rate hike have made investors jittery, compelling them to hoard cash. As such, the appeal for cash-like ETFs has been on the rise as investors seek to mitigate the risk of a decline in the stock market.
More Gains Ahead?
Currently, GBIL has a Zacks ETF Rank #3 (Hold). However, it might continue its strong performance given its weighted alpha of 0.30 and a low 20-day volatility of 1.27%.