For investors seeking momentum, Innovator Defined Wealth Shield ETF BALT is probably on radar. The fund just hit a 52-week high and is up 9.3% from its 52-week low price of $29.35/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:
BALT in Focus
Innovator Defined Wealth Shield ETF seeks to track the return of the SPDR S&P 500 ETF Trust (SPY) to a cap and provide a measure of downside protection by seeking to buffer investors against losses. The fund targets a 20% buffer every 3-month outcome period. The product charges 69 bps in annual fees (See: all Defined Outcome here).
Why the Move?
The defined outcome ETF has been an area to watch lately, given escalating geopolitical tensions in the Middle East. Following the United States’ attack on Iran, tensions in the region have escalated. 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 6.58 (as of Barchart.com), which gives cues of a further rally.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
