See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
PIMCO Enhanced Short Maturity Active ETF (MINT) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PIMCO Enhanced Short Maturity Active ETF (MINT) - free report >>
Image: Bigstock
Ultra Short-Term Bond ETF (MINT) Hits New 52-Week High
For investors seeking momentum, PIMCO Enhanced Short Maturity Active ETF (MINT - Free Report) is probably on radar. The fund just hit a 52-week high and is up 1.99% from its 52-week low price of $98.14/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:
MINT in Focus
This ETF is active and does not track a benchmark. The PIMCO Enhanced Short Maturity Active ETF seeks greater income and total return potential than money market funds, and may be appropriate for non-immediate cash allocations. It primarily invests in short-duration investment-grade debt securities. The product charges 35 bps in annual fees (see: all the Ultra Short-Term ETFs here).
Why the Move?
The short-term corner of the Treasury market has been an area to watch lately, given the current stock market uncertainty. The growing likelihood of the Fed maintaining a hawkish stance for an extended duration and the rising prospects of an economic slowdown in the United States by some analysts are making cash-like ETFs more appealing to investors. As investors aim to reduce their exposure to potential stock market downturns, money-market ETFs tend to gain.
More Gains Ahead?
Currently, MINT might continue its strong performance in the near term, with a positive weighted alpha of 1.4, which gives cues of a further rally.