For investors seeking momentum, Core Alternative ETF CCOR is probably on the radar. The fund just hit a 52-week high and is up 13.9% from its 52-week low price of $24.69/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
CCOR in Focus
The Core Alternative ETF utilizes a combination of several strategies in aiming to produce capital appreciation while reducing risk exposure across market conditions. The product charges 118 bps in annual fees (See: All Style Box - Large Cap Blend here).
Why the Move?
U.S. stocks witnessed a bloodbath earlier this month following President Donald Trump’s announcement of sweeping 10% tariffs on all U.S. trading partners, with even steeper levies for countries running trade deficits with the United States.
Against this backdrop, in a surprising development in the tariff saga, Trump announced on April 9 a temporary reduction in tariff rates for most countries to 10% for 90 days, triggering a historic surge across U.S. markets.
As a result, stocks witnessed one of their largest single-day gains since World War II. As a part of this rally, CCOR surged on April 9.
More Gains Ahead?
The ETF CCOR might continue its strong performance in the near term, with a positive weighted alpha of 11.27, which gives cues of a further rally.
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Core Alternative ETF (CCOR): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).
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