Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Short-Term Bond ETF (NEAR) Hits New 52-Week High
For investors seeking momentum, BlackRock Short Maturity Bond ETF (NEAR - Free Report) is probably on radar. The fund just hit a 52-week high and is up 1.47% from its 52-week low price of $48.99/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:
NEAR in Focus
The actively managed fund seeks to maximize current income by diversified exposure to short-term bonds. NEAR has an effective duration of 0.49 years and weighted average maturity of 1.19 years. The product charges 25 bps in annual fees.
Why the Move?
The regional banking crisis in the United States, along with increasing market volatility due to rising geopolitical tensions and creeping recessionary fears are increasing the appeal of the fund as a safe haven investment option. In an environment of high interest rates, short-term bonds offer low interest rate risk.
More Gains Ahead?
Currently, the fund has a positive weighted alpha of 0.80, hinting at more gains and a strong performance in the future.