28-Mar-2024
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Goldman stays bullish on commodities in anticipation of rate cuts
Seeking Alpha News (Tue, 26-Mar 4:23 AM ET)
abrdn Bloomberg All Commodity Strategy K-1 Free ETF (the Fund ) is an actively managed exchange traded fund that seeks to provide a total return designed to exceed the performance of the Bloomberg Commodities Index. The Bloomberg Commodity Index (BCOM) consists of 22 commodities which are weighted 2/3 by trading volume and 1/3 world production with an additional criteria of global economic significance.
Abrdn Bloomberg All Commodity Strategy K-1 Free ETF trades on the ARCA stock market under the symbol BCI.
As of March 28, 2024, BCI stock price climbed to $19.77 with 377,013 million shares trading.
BCI has a beta of 0.26, meaning it tends to be less sensitive to market movements. BCI has a correlation of 0.08 to the broad based SPY ETF.
BCI has a market cap of $946.98 million. This is considered a Small Cap stock.
In the last 3 years, BCI stock traded as high as $31.94 and as low as $18.84.
BCI has underperformed the market in the last year with a price return of +0.5% while the SPY ETF gained +33.6%. BCI has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +0.6% and +0.7%, respectively, while the SPY returned +10.1% and +1.7%, respectively.
BCI support price is $19.47 and resistance is $19.69 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BCI stock will trade within this expected range on the day.