Shares of the PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund (NYSEARCA:LTPZ) hit a new 52-week low during Wednesday’s trading session. The ETF’s shares traded as low as $52.19, marking a significant decline from its previous highs.
The PIMCO 15+ Year U.S. TIPS Index ETF is designed to offer investors exposure to the U.S. Treasury Inflation-Protected Securities (TIPS) with maturities of 15 years and longer. These securities are designed to provide protection against inflation, with their principal value rising with the Consumer Price Index (CPI).