For investors looking for momentum, Breakwave Dry Bulk Shipping ETF BDRY is probably a suitable pick. The fund just hit a 52-week high and is up 408.2% from its 52-week low price of $6.10/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
BDRY in Focus
The fund provides long exposure to the dry bulk shipping market through a portfolio of near-dated freight futures contracts on dry bulk indices. It has AUM of $93.3 million and charges 3.32% in annual fees.
Why the Move?
The demand for shipping is high considering the improvement in global economic growth and a commodity boom from easing COVID-led restrictions. These factors are leading to very high freight rates. The space is also getting support from easy monetary and fiscal policies, supply-chain issues caused due to COVID-19 and higher demand from e-commerce companies.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 219.21, which gives cues of further rally.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
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Source: Zacks