For traders in search of momentum, International X MSCI Greece ETF GREK might be on the radar. The fund simply hit a 52-week excessive and is up 22.39% from its 52-week low value of $37.60/share.
However are extra positive aspects in retailer for this ETF? Let’s take a fast have a look at the fund and the near-term outlook on it to get a greater concept of the place it is perhaps headed:
GREK in Focus
The underlying MSCI All Greece Choose 25/50 Index represents the efficiency of the broad Greece fairness universe, along with firms which are headquartered or listed in Greece and perform nearly all of their operations in that nation. The product fees 57 bps in annual charges (See: All European Equity ETFs).
Why the Transfer?
Greek financial restoration and powerful investor curiosity proceed to drive optimism. Greece’s economic system is estimated to develop by 2.1% in 2025, primarily fueled by funding, in keeping with the IMF. The near-term financial outlook for the nation stays favorable supported by bettering public funds, strong home demand and declining debt, a key tailwind for the fund.
Extra Good points Forward?
At present, GREK has a Zacks ETF Rank #3 (Maintain), with a Excessive danger outlook. Nonetheless, it would proceed its sturdy efficiency within the close to time period, with a optimistic weighted alpha of 16.83 (as per Barchart.com), which supplies cues of an extra rally.
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Global X MSCI Greece ETF (GREK): ETF Research Reports
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
