For investors seeking momentum, GX MLP ETF MLPA is probably on the radar. The fund just hit a 52-week high and is up 15.61% from its 52-week low price of $39.52/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
MLPA in Focus
The underlying Solactive MLP Infrastructure Index tracks the price movements in shares of companies that are structured as MLP and are engaged in owning and operating assets used in energy logistics. It invests in midstream pipelines and storage facilities that have less sensitivity to energy prices. The product charges 45 bps in annual fee (See: all MLP ETFs here).
Why the Move?
The recent surge in oil prices has put master limited partnership (MLP) corner of the global energy market under the spotlight. MLPs often provide their investors with profitable cash payments, making them an attractive option for income-oriented investors. Besides offering attractive yields and the possibility of capital appreciation, MLPs also exhibit reduced volatility and contribute diversification advantages to the investment portfolio.
More Gains Ahead?
The fund might continue its strong performance in the near term. A positive weighted alpha of 7.7, 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.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>Global X MLP ETF (MLPA): ETF Research Reports
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
