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Infrastructure Capital Advisors’ InfraCap Small Cap Income ETF (NYSE:SCAP) gapped up about 1% higher on Monday, the second consecutive northernly gap after closing about 0.9% higher on Friday.
SCAP is a value fund, which is made up of the iShares Russell 2000 ETF (NYSE:IWM), weighted at 18.13% and a basket of small-cap stocks. Currently, the fund may be of particular interest to cyclical investors who are anticipating the sideways movement in the large-cap space may indicate investors will turn their attention to small-cap investments, the latter of which can offer more growth potential.
Investing in small caps can be riskier than investing in mid-cap and large-cap stocks because of the amount of due diligence that’s often required. SCAP is actively managed, using a mix of quantitative and qualitative analysis, offering traders and investors a way to diversify their portfolios without having to spend the time and take on the risk of choosing a basket of small-cap investments individually. InfraCap’s methods of selecting its holdings also provide the opportunity for the fund to outperform compared to a passive benchmark.
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While SCAP’s largest holding is IWM, the fund also holds smaller positions in several small-cap investments that are popular with traders. MKS Instruments, Inc (NASDAQ:MKSI) is the second largest holding within the fund, weighted at 3.03%, followed by GoDaddy, Inc (NYSE:GDDY), weighted at 2.94%, Chord Energy Corp (NASDAQ:CHRD), weighted at 2.88% and Jefferies Financial Group, Inc (NYSE:JEF) weighted at 2.86%.
Also within the top 10 holdings within SCAP are Herc Holdings, Inc (NYSE:HRI), Apollo Global Management, Inc, East West Bancorp, Inc, Coca-Cola Consolidated, Inc (NASDAQ:COKE) and Casey’s General Stores, Inc (NASDAQ:CASY).
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The SCAP Chart: Since it’s inception on Dec. 12, SCAP is up about 10%, despite having retraced about 3% from the April 4 all-time high of $33.99. After reaching a local low of $31.42 on April 16, SCAP reversed into an uptrend and has been making a fairly consistent series of higher highs and higher lows.