Investors seeking momentum may have Aberdeen Standard Physical Palladium Shares ETF PALL on radar now. The fund recently hit a new 52-week high. Shares of PALL are up approximately 39.7% from their 52-week low of $79.61/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.
PALL in Focus
PALL reflects the performance of the price of palladium, less Trust's expenses. The shares are designed for investors who want a cost-effective and convenient way to invest in physical palladium. PALL charges 60 basis points in fee per year and has AUM of $149.1 million (see all Precious Metals ETFs here).
Why the move?
Palladium surged on prospects of higher demand from the Chinese auto industry. Investors should note that the increased appeal of palladium over platinum as a metal to be used in catalytic converters of gasoline vehicles has driven demand of late. The supply of the metal is expected to tighten, providing further support.
More Gains Ahead?
PALL has a Zacks ETF Rank #3 (Hold) with a High risk outlook. So, it is difficult to get a handle on its future returns one way or another. However, the fund has a weighted alpha of 22.00. So, there is a promising outlook ahead for those who want to ride this surging ETF a shade further.
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ETFS-PALLADIUM (PALL): ETF Research Reports
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Zacks Investment Research