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Long/Short ETF (BTAL) Hits New 52-Week High

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For investors seeking momentum, AGFiQ US Market Neutral Anti-Beta Fund (BTAL - Free Report)  is probably on radar now. The fund just hit a 52-week high, which is up roughly 45.6% from its 52-week low price of $12.73/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 on where it might be headed:

BTAL in Focus

The underlying Dow Jones U.S. Thematic Market Neutral Anti-Beta Index is a long/short market neutral index that is dollar-neutral. The fund charges 75 bps in fees (see all Long-Short ETFs here).

Why the Move?

Since markets remained volatile lately and there has been a bloodbath in the global market owing mainly to rising rate worries, this defensive ETF gained strength.

More Gains Ahead?

The fund has a positive weighted alpha of 7.70. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer, especially if uncertainty remains in the market.

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