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The AdvisorShares Gartman Gold/Yen ETF Just Hit a New 52-Week Low
Investors looking for ETFs with negative momentum should begin to consider the AdvisorShares Gartman Gold/Yen ETF (GYEN). This product just hit a new 52-week low of $10.6 today, and is now down 25.00% from its 52-week high price of $13.25 per share.
Will this ETF continue its string of recent losses? Let’s take a closer look at the fund, its recent gains, the category it resides in, and its ratings and outlook to get a sense of whether its momentum is sustainable or not.
Inside GYEN’s Decline
As mentioned earlier, GYEN has now lost 25.00% from its 52-week high, which was hit back on March 10, 2016. The fund has now returned 2.06% over the past month, 0.88% over the past three months, and -2.61% in the past six months. Those returns compare to the benchmark S&P 500 index’s 1.35%, 8.54%, and 6.78% returns in the same periods, respectively.
A Look Under The Hood
AdvisorShares Gartman Gold/Yen ETF is a Commodity-focused product issued by AdvisorShares. Its expense ratio of 0.65% makes it the #34 cheapest ETF among 119 total funds in the Commodity ETFs category.
GYEN currently boasts only $16.96M in assets under management (AUM), placing it #63 of 119 ETFs in its category, and #1364 of 1922 total ETFs in the U.S. exchange traded universe. This is a very small fund that hasn’t been able to gather too much in terms of assets since its launch back in February 2014.
The investment objective of the AdvisorShares Gartman Gold/Yen ETF is to provide positive returns by utilizing the Japanese yen to invest its assets in the gold market. Considering how gold has taken a serious hit lately, it’s understandable that GYEN would fall as well.
GYEN SMART Grade: More Losses Ahead?
GYEN currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #66 of 120 funds in the Commodity ETFs category.
A SMART Grade of B suggests solid future price growth potential, so it’s possible that GYEN’s recent downturn is just a hiccup. It pays to monitor the situation closely, however.
For more information about this ETF, including full ratings, news, data, and more, please visit GYEN’s ticker page.
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