Commodity ETF (USCI) Hits New High in 52 Weeks

For investors looking for dynamism, US Commodity Index Fund USCI is probably on the radar. The fund just hit a 52-week high and is up about 40.5% from its 52-week low of $33.90/share.

But are more gains in store for this ETF? Let’s take a look at the fund and its near-term outlook to get a better idea of ​​its direction:

USCI in a nutshell

The investment objective of the United States Commodity Index Fund is that the daily percentage changes in the net asset value (“NAV”) of its shares reflect the daily percentage changes in the SummerHaven Dynamic Commodity Index Total Return. The index is designed to reflect the performance of a portfolio of 14 commodity futures contracts out of 27 possible futures contracts. The product charges 1.10% annual fee (see: all Broad Commodity ETFs here).

Why the move?

The commodities market has been an area to watch lately, given the surge in prices. The recovery in demand following COVID-19, supply chain disruptions, government policy and inclement weather have all contributed to tighter markets, pushing prices higher.

More wins to come?

It looks like USCI could remain strong given a weighted alpha of 38.73 and 20-day volatility of 12.8%. As a result, there’s certainly still promise for risk-aggressive investors who want to take advantage of this booming ETF.

Want key ETF information delivered straight to your inbox?

Zacks’ free fund newsletter will update you weekly on top news and analysis, as well as the top performing ETFs.

Get it for free >>

Click to get this free report

US Commodity ETFs (USCI): ETF Research Reports

To read this article on Zacks.com, click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Comments are closed.