Investors seeking momentum may have Harbor Commodity All-Weather Strategy ETF HGER on radar now. The fund recently hit a new 52-week high. Shares of HGER are up approximately 19.6% from their 52-week low of $19.66/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.
HGER In Focus
The underlying Quantix Commodity Index comprises of futures contracts on physical commodities. The fund charges 68 bps in fees.
Why The Move?
The annual inflation rate in the United States accelerated for a second straight month to 3.7% in August from 3.2% in July, above market forecasts of 3.6%. Oil prices have been on the rise in the previous two months, which has been held responsible for the high consumer price inflation. Core inflation rate however, which excludes food and energy, slowed for the fifth month to 4.3%, in line with market expectations. As a Result, this inflation-beating ETF hit a 52-week high.
More Gains Ahead?
The fund has a positive weighted alpha of 14.16. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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Harbor Commodity All-Weather Strategy ETF (HGER): ETF Research Reports
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