Investors seeking momentum may have Ionic Inflation Protection ETF CPII on radar now. The fund recently hit a new 52-week high. Shares of CPII are up approximately 16% from their 52-week low of $19.15/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.
CPII In Focus
The Ionic Inflation Protection ETF is an actively managed exchange-traded fund that seeks to generate positive returns during periods of elevated and rising inflation and inflation expectations as well as during periods of increasing interest rates and fixed income volatility. The fund charges 74 bps in fees.
Why The Move?
The U.S. inflation rate remained steady at 3.7% in September 2023, defying market expectations of a slight decrease to 3.6%. Inflation in the United States, as measured by the change in Personal Consumption Expenditures (PCE) Price Index, was 3.4% on a yearly basis in September. Although the reading came in line with the market expectation, U.S. inflation, overall, remains sticky. As a Result, this inflation-beating ETF hit a 52-week high.
More Gains Ahead?
The fund has a positive weighted alpha of 4.85. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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