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
Corporate Bond ETF (BSCN) Hits New 52-Week High
For investors seeking momentum, Invesco BulletShares 2023 Corporate Bond ETF is probably on the radar. The fund just hit a 52-week high and is up 2.1% from its 52-week low price of $20.84/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:
BSCN in Focus
The underlying Nasdaq Bulletshares USD Corporate Bond 2023 Index represents the performance of a held-to-maturity portfolio of US dollar-denominated, investment-grade corporate bonds with effective maturities in 2023. The product charges 10 bps in annual fees.
Why the Move?
This short-term bond ETF charges 10 bps in fees buy yields 2.90% annually. Amid rising rate environment, this short-term bond ETF has lower default risks as well as interest rate risks.
More Gains Ahead?
Currently, BSCN might continue its strong performance in the near term, with a positive weighted alpha of 1.80, which gives cues of a further rally.