(HBD) BetaPro Gold Bullion 2x - Ratings and Ratios

The BetaPro Gold Bullion 2x Daily Bear ETF (HBD) is a Canadian exchange-traded fund that provides inverse exposure to the performance of gold, with a 2x leverage. This means that the fund aims to deliver twice the opposite return of the daily performance of gold bullion.

As a Passive Inverse/Leveraged ETF, HBD is designed for investors who want to bet against the price of gold or hedge against potential losses in their gold-related investments. The funds underlying index is not directly related to the Morningstar CAD O/N Cash GR CAD index, which is likely used as a reference for cash or collateral management.

From a technical analysis perspective, the current price of HBD is 16.77 CAD, which is slightly below its 20-day simple moving average (SMA) of 16.89. The 50-day SMA is at 18.29, indicating a potential downtrend. However, the 200-day SMA is at 16.05, which could provide support. The Average True Range (ATR) is 0.73, representing a 4.34% daily price movement. Given the current technical setup, its likely that HBD will continue to consolidate around its current price levels.

Fundamentally, the Assets Under Management (AUM) for HBD stand at 2.36M CAD, indicating a relatively small but still active fund. Considering the current gold price and market sentiment, its possible that investors are seeking inverse exposure to gold due to concerns about the metals potential decline.

Forecasting the future performance of HBD requires analyzing both technical and fundamental data. Based on the current technical indicators, its likely that HBD will experience a short-term bounce or consolidation. However, if gold prices continue to fluctuate or decline, HBD may benefit from its inverse exposure, potentially leading to a longer-term uptrend. On the other hand, if gold prices surge, HBDs 2x leverage will amplify the losses. As such, investors should closely monitor gold price movements and adjust their strategies accordingly.