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For traders searching for momentum, Constancy MSCI Utilities Index ETF FUTY might be an appropriate decide. The fund simply hit a 52-week excessive, up roughly 25.3% from its 52-week low of $36.63/share.
However does it have extra positive factors in retailer? Let’s check out the fund and its near-term outlook to realize an perception into the place it may be headed:
FUTY in Focus
The fund seeks to supply funding returns that correspond, earlier than charges and bills, usually to the efficiency of the MSCI USA IMI Utilities Index. FUTY is charging eight foundation factors (bps) in charges. The fund has amassed $1.07 billion in AUM (see all Utilities/Infrastructure ETFs here).
Why this Transfer?
China is grappling with the coronavirus outbreak that has already claimed at least 1,868 lives in the nation, together with 72,436 confirmed instances. The heightening tensions are inflicting traders to hunt refuge in safer funding choices, with the utility sector grabbing major attention. The sector is…