Cryptocurrency ETF (CRPT) Hits New 52-Week High
First Trust SkyBridge Crypto Industry and Digital Economy ETF CRPT is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 176.1% from its 52-week low price of $8.50/share.
Are 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.
The First Trust SkyBridge Crypto Industry and Digital Economy ETF seeks to provide investors with capital appreciation. The product charges 85 bps in annual fees.
Bitcoin surpassed $111,000 for the first time, with traders increasingly bullish on the prospects of the original cryptocurrency amid mounting institutional demand. This is why the Crypto ETF CRPT hit a 52-week high lately.
The ETF CRPT might continue its strong performance in the near term, with a positive weighted alpha of 66.90, 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
First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): ETF Research Reports
This article originally published on Zacks Investment Research (zacks.com).
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