For investors looking for dynamism, IShares 0-3 Month Treasury Bond ETF SGOV is probably an appropriate choice. The fund just hit a 52-week high of $ 100.03 / share versus its 52-week low of $ 100.01 / share.
Let’s take a look at the fund and its near-term outlook to get a sense of where it might go:
SGOV in brief
The iShares 0-3 Month Treasury Bond ETF seeks to track the investment results of an index composed of US Treasury bonds with remaining maturities of three months or less. It has assets under management of $ 790.2 million and charges 3 basis points in annual fees.
Why the move?
Wall Street had a rough time on the last trading day of the week cut short by the holidays. The slowdown in market dynamics was caused by the novel strain of the omicron coronavirus. The variant was first detected in South Africa and has numerous (over 30) spike protein mutations (as reported in a CNBC article). The coronavirus epidemic is worsening in parts of Europe, largely due to cold weather conditions. Various measures are being taken to reduce the spread, which may again impact the economic recovery achieved so far after the doldrums caused by the pandemic. This makes funds like SGOV an impressive investment option.
More earnings to come?
The fund has a Zacks Rank # 3 (Hold). It looks like the fund could stay strong going forward.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.