Virtus InfraCap U.S. Preferred Stock ETF Shows Oversold Conditions
On Tuesday, shares of the Virtus InfraCap U.S. Preferred Stock ETF (Symbol: PFFA) dropped into oversold territory, trading as low as $21.11 per share. Oversold territory is defined using the Relative Strength Index (RSI), a technical analysis tool for measuring momentum on a scale from zero to 100. An asset is seen as oversold when the RSI score dips below 30.
For PFFA, the RSI reading is currently at 29.3, compared to an RSI of 36.7 for the S&P 500. This lower reading may attract bullish investors who perceive that recent selling pressure is beginning to subside, presenting potential buying opportunities.
The chart below illustrates a one-year performance of PFFA. The ETF’s lowest point in its 52-week range stands at $20.10, while the 52-week high is $23.2372, with the last trade occurring at $21.15. At present, Virtus InfraCap U.S. Preferred Stock shares are trading down about 0.3% on the day.
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Also see:
- Alphabetical List of All Hedge Funds
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- LPCN YTD Return
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
