Investors seeking momentum may have JPMorgan Alerian MLP Index ETN (AMJ) on radar now. The fund recently hit a new 52-week high. Shares of AMJ are up approximately 21.3% from their 52-week low of $20.71/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.
AMJ In Focus
The Alerian MLP Index is a cap-weighted, float-adjusted index created to provide a complete benchmark for investors to track the energy MLP sector. The fund charges 85 bps in fees.
Why The Move?
Oil prices have been rising lately due to the Middle-East tensions. This, in turn, has boosted the demand for MLP ETFs and ETNs too. This is because the segment is high-yielding in nature. Plus, the oil rally has given a scope to the segment to offer capital gains too.
More Gains Ahead?
The fund has a positive weighted alpha of 16.10. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
