For investors looking for momentum, the SPDR S&P Emerging Europe ETF is probably on your radar now. The fund just hit a 52-week high. Shares of GUR are up roughly 26.60% from their 52-week low price of $23.50/share.
But could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea on where it might be headed:
GUR in Focus
GUR focuses on providing exposure to the emerging markets of Europe. From a geographical perspective, it has around 52.43% exposure to the Russia, 17.54% to Poland, and 16.10% to Turkey. It charges 49 basis points in fees per year and has top holdings in Public Joint-Stock Company Gazprom Sponsored ADR, Oil Company LUKOIL PJSC Sponsored ADR, and Sberbank Russia OJSC Sponsored ADR with a collective 16.7% allocation to them (see all European Equity ETFs here).
The fund has AUM of $50.6 million and trades in average volumes of 11,500 shares.
Why the Move?
The move can primarily be attributed to the results of the first run-off of the French presidential elections that was held on Sunday, April 23, 2017. Emmanuel Macron and Marine Le Pen emerged victorious and will be facing each other in the second run-off on May 7, 2017. Emmanuel Macron garnered the most support, with 24% of the votes, almost 3 percentage points higher than Le Pen’s 21.3%. This instilled investors’ confidence as the market’s preferred candidate was in the lead. The currency rally further benefited the investments in the region.
More Gains Ahead?
Currently, GUR has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. So it is hard to get a handle on its future returns one way or another. Though it has a high 14-day volatility of 20.92%, the fund has a weighted alpha of 14.10. So, there is still some promise for those who want to ride this surging ETF a little further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Image: Bigstock
Emerging Europe ETF (GUR) Hits New 52-Week High
For investors looking for momentum, the SPDR S&P Emerging Europe ETF is probably on your radar now. The fund just hit a 52-week high. Shares of GUR are up roughly 26.60% from their 52-week low price of $23.50/share.
But could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea on where it might be headed:
GUR in Focus
GUR focuses on providing exposure to the emerging markets of Europe. From a geographical perspective, it has around 52.43% exposure to the Russia, 17.54% to Poland, and 16.10% to Turkey. It charges 49 basis points in fees per year and has top holdings in Public Joint-Stock Company Gazprom Sponsored ADR, Oil Company LUKOIL PJSC Sponsored ADR, and Sberbank Russia OJSC Sponsored ADR with a collective 16.7% allocation to them (see all European Equity ETFs here).
The fund has AUM of $50.6 million and trades in average volumes of 11,500 shares.
Why the Move?
The move can primarily be attributed to the results of the first run-off of the French presidential elections that was held on Sunday, April 23, 2017. Emmanuel Macron and Marine Le Pen emerged victorious and will be facing each other in the second run-off on May 7, 2017. Emmanuel Macron garnered the most support, with 24% of the votes, almost 3 percentage points higher than Le Pen’s 21.3%. This instilled investors’ confidence as the market’s preferred candidate was in the lead. The currency rally further benefited the investments in the region.
More Gains Ahead?
Currently, GUR has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. So it is hard to get a handle on its future returns one way or another. Though it has a high 14-day volatility of 20.92%, the fund has a weighted alpha of 14.10. So, there is still some promise for those who want to ride this surging ETF a little further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>