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Ultra Short-Term Bond ETF (BIL) Hits New 52-Week High

For investors seeking momentum, SPDR Bloomberg 1-3 Month T-Bill ETF BIL is probably on radar. The fund just hit a 52-week high and is up 0.55% from its 52-week low price of $99.96/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:

BIL in Focus

SPDR Bloomberg 1-3 Month T-Bill ETF seeks to provide exposure to zero-coupon U.S. Treasury securities that have a remaining maturity of 1-3 months. It has an average maturity and an adjusted duration of 0.09 years each. iShares 0-3 Month Treasury Bond ETF charges 13 bps in annual fees (see: all the Government Bond ETFs here).

Why the Move?

The short-term corner of the Treasury market has been an area to watch lately, given the current stock market turmoil. The banking woes have made investors jittery, compelling them to hoard cash. As such, the appeal for cash-like ETFs has been on the rise as investors seek to mitigate the risk of a decline in the stock market.

More Gains Ahead?

Currently, BIL has a Zacks ETF Rank #3 (Hold). It might continue its strong performance given its weighted alpha of 0.50 and a low 20-day volatility of 1.04%.

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SPDR Bloomberg 1-3 Month T-Bill ETF (BIL): ETF Research Reports

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Zacks Investment Research