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.
For investors seeking momentum, SPDR Gold MiniShares Trust (GLDM - Free Report) is probably on radar. The fund just hit a 52-week high, and is up 27.8% from its 52-week low price of $11.74 per 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:
GLDM in Focus
This product seeks to reflect the performance of the price of gold bullion. Being a low-cost product with expense ratio of just 0.18%, GLDM has amassed $905.5 million in AUM (see: all the Precious Metals ETFs here).
Why the Move?
This has been an area to watch lately given the spike in gold price on safe-haven demand as well as global easy monetary policies. The escalation in U.S.-China trade war and global growth concerns raised the appeal for gold as a great store of value and hedge against market turmoil. Acting as a leveraged play on the underlying metal prices, metal miners tend to experience more gains than their bullion cousins in a rising metal market.
More Gains Ahead?
Currently, GLDM has a Zacks ETF Rank #3 (Hold). Therefore, it is hard to get a handle on its future returns one way or the other. However, it seems that GLD might remain strong given a higher weighted alpha of 30.09 and a mediocre 20-day volatility of 15.29%. As a result, there is definitely still some promise for investors, who want to ride on this surging ETF a little further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
(We are reissuing this article to correct a mistake. The original article, issued on August 14, 2019, should no longer be relied upon.)
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Gold ETF (GLDM) Hits New 52-Week High (Revised)
For investors seeking momentum, SPDR Gold MiniShares Trust (GLDM - Free Report) is probably on radar. The fund just hit a 52-week high, and is up 27.8% from its 52-week low price of $11.74 per 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:
GLDM in Focus
This product seeks to reflect the performance of the price of gold bullion. Being a low-cost product with expense ratio of just 0.18%, GLDM has amassed $905.5 million in AUM (see: all the Precious Metals ETFs here).
Why the Move?
This has been an area to watch lately given the spike in gold price on safe-haven demand as well as global easy monetary policies. The escalation in U.S.-China trade war and global growth concerns raised the appeal for gold as a great store of value and hedge against market turmoil. Acting as a leveraged play on the underlying metal prices, metal miners tend to experience more gains than their bullion cousins in a rising metal market.
More Gains Ahead?
Currently, GLDM has a Zacks ETF Rank #3 (Hold). Therefore, it is hard to get a handle on its future returns one way or the other. However, it seems that GLD might remain strong given a higher weighted alpha of 30.09 and a mediocre 20-day volatility of 15.29%. As a result, there is definitely still some promise for investors, who want to ride on this surging ETF a little further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
(We are reissuing this article to correct a mistake. The original article, issued on August 14, 2019, should no longer be relied upon.)