Yahoo Finance MLP ETF (MLPA) Hits New 52-Week High
For investors seeking momentum, GX MLP ETF MLPA is probably on the radar. The fund just hit a 52-week high and is up 18.85% 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 are engaged in owning and operating assets used in energy logistic. It invests in midstream pipelines and storage facilities that have less sensitivity to energy prices. The product charges 45 bps in annual fees (See: All MLP ETFs).
Why the Move?
The recent surge in oil prices has put the master limited partnership (MLP) corner of the global energy market in 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?
Currently, MLPA has a High risk outlook. However, it might continue its strong performance in the near term, with a positive weighted alpha of 11.80, which gives cues of a further rally.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Global X MLP ETF (MLPA): ETF Research Reports
