For investors seeking momentum, Innovator Defined Wealth Shield ETF BALT is probably on the radar. The fund just hit a 52-week high and moved up 11.47% from its 52-week low price of $30.07 per share.
Are there more gains in store for this ETF? Let us 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.
BALT in Focus
BALT employs an active strategy and seeks capital appreciation and downside protection with returns matching the PR of the SPDR S&P 500 ETF Trust. The fund targets a 20% buffer every 3-month outcome period. The product charges 69 bps in annual fees (See: All Defined Outcome ETFs).
Why the Move?
The defined outcome ETF has been an area to watch lately, given concerns about AI overvaluation and investors looking for broader diversification. Investors turning toward safer investment options is another tailwind for the fund. Innovator Defined Outcome ETFs allow investors to take advantage of market growth while maintaining defined levels of buffers against loss.
More Gains Ahead?
BALT might continue its strong performance in the near term, with a positive weighted alpha of 7.03 (per Barchart.com), which gives cues of further rally.
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This article originally published on Zacks Investment Research (zacks.com).
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