Well, this is what momentum stocks and some exchange trade funds backed by the momentum factor do: Change course in a hurry.
For the better in recent days, that has been the case with the iShares MSCI USA Momentum Factor ETF (NYSE: MTUM). First, some housekeeping as it pertains to MTUM. It was the only ETF to hit an all-time during Thursday's broader market rally, but with that new high being $76.30 and the fund closing at $70.60, it is reasonable to suspect this is a case of some lingering ETF pricing issues earlier this week.
MTUM's net asset value as of August 27 was $76.55, just below its closing price on the same date, according to iShares data. What was happening with ETF pricing earlier is another ballgame altogether, but MTUM does not have a penchant for swing well above or below NAV. In the second quarter, MTUM ...
/www.benzinga.com/trading-ideas/long-ideas/15/08/5798508/this-momentum-etf-bounced-back-in-a-hurry alt=This Momentum ETF Bounced Back In A Hurry>Full story available on Benzinga.com
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