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For investors looking for momentum, iShares TIPS Bond ETF TIP is probably a suitable pick. The fund just hit a 52-week high and is up 4.9% from its 52-week low price of $123.51/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
TIP in Focus
The fund’s exposure to U.S. TIPS, which are government bonds whose face value rises with inflation. It has AUM of $29.29 billion and charges 19 basis points in annual fees.
Why the Move?
The TIPS segment of the broad U.S. stock market has been an area to watch lately given the rising inflationary expectations. U.S. consumer prices climbed the highest in June, hitting a fresh high since August of 2008. Inflation is expected to rise further amid the recovering U.S. economy, accelerated vaccination drive and fiscal stimulus.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 3.63, which gives cues of further rally.
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iShares TIPS Bond ETF (TIP): ETF Research Reports
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Zacks Investment Research