Investors seeking momentum may have Aberdeen Standard Physical Palladium Shares ETF (PALL - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of PALL are up approximately 60.7% from their 52-week low of $99.48/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
PALL in Focus
PALL reflects the performance of the price of palladium, less Trust's expenses. The shares are designed for investors who want a cost-effective and convenient way to invest in physical palladium. PALL charges 60 basis points in fee per year and has AUM of $224.5 million (see all Precious Metals ETFs here).
Why the move?
Rising tensions in the Middle East as well as in the U.S.-China trade relations, have been giving a boost to the palladium prices. Many have been considering the metal as a dummy of gold, which acts as a safe-haven asset.
More Gains Ahead?
PALL has a Zacks ETF Rank #5 (Strong Sell) with a High risk outlook. However, the fund has a weighted alpha of 55.10. So, the fund can surge a bit higher if the operating environment remains favorable.
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