[ad_1]
You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media.
This story originally appeared on Zacks
iPath Series B Bloomberg Cotton Subindex Total Return ETN BAL is probably a suitable pick for investors looking for momentum. The fund just hit a 52-week high and is up 48.7% from its 52-week low price of $38.55/share.
– Zacks
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
BAL in Focus
The fund is designed to provide exposure to the Bloomberg Cotton Subindex Total Return. It has AUM of $16.6 million and charges 45 basis points in annual fees.
Why the Move?
The U.S. cotton exports have hit the highest level of 16.4 million bales in 15 years in 2020-21 driven by a surge in global imports (per an article on Fibre2Fashion.com). The world’s largest economy witnessed a large portion of demand for cotton from China (the highest in eight years), with a large chunk of requirements for U.S. cotton driven mainly by China’s State Reserve. This is making funds like BAL an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 44.84, which gives cues of a further rally.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
iPath Series B Bloomberg Cotton Subindex Total Return ETN (BAL): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
[ad_2]
Source link