For buyers in search of momentum, ETFMG Prime Junior Silver Miners ETF SILJ might be on the radar. The fund simply hit a 52-week excessive and is up 86.5% from its 52-week low worth of $7.80/share.
However are extra good points in retailer for this ETF? Let’s take a fast have a look at the fund and the near-term outlook on it to get a greater concept of the place it is perhaps headed:
SILJ in Focus
The underlying Nasdaq Junior Silver Miners Index tracks the efficiency of firms engaged within the silver mining business. The product prices 69 bps in annual charges.
Why the Transfer?
Silver’s worth jumped through the North American session, backed by falling U.S. Treasury bond yields. Though merchants lowered bets that the Federal Reserve would ease coverage much less aggressively than anticipated, treasured metals prolonged their good points. Consequently, the silver mining ETF jumped.
Extra Beneficial properties Forward?
At present, SILJ may proceed its sturdy efficiency within the close to time period, with a optimistic weighted alpha of 70.91 (as per Barchart.com), which provides cues of an extra rally.
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Amplify Junior Silver Miners ETF (SILJ): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
