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WisdomTree Bloomberg U.S. Dollar Bullish ETF (USDU) - free report >>
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WisdomTree Bloomberg U.S. Dollar Bullish ETF (USDU) - free report >>
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U.S. Dollar ETF (USDU) Hits a New 52-Week High
WisdomTree Bloomberg U.S. Dollar Bullish ETF (USDU - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 15.6% from its 52-week low price of $25.00/share.
Are more gains in store for this ETF? Let us 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.
USDU ETF in Focus
The WisdomTree Bloomberg U.S. Dollar Bullish ETF seeks to provide total returns, before expenses, that exceed the performance of the Bloomberg Dollar Spot Index. The product charges 50 bps in annual fees.
Why the Move?
The U.S. dollar has been on the rise since Donald Trump’s big win in the presidential election. Trump's policies on restricting illegal immigration, enacting new tariffs, lowering taxes and reducing regulations may boost the economy and inflation, thereby limiting the Federal Reserve's ability to cut rates, which is a positive for dollar.
More Gains Ahead?
The ETF USDU might continue its strong performance in the near term, with a positive weighted alpha of 14.39, which gives cues of a further rally.