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EMQQ The Emerging Markets Internet & Ecommerce ETF (EMQQ) - free report >>
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EMQQ The Emerging Markets Internet & Ecommerce ETF (EMQQ) - free report >>
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Emerging Markets Internet ETF (EMQQ) Hits New 52-Week High
Investors seeking momentum may have Emerging Markets Internet Ecommerce ETF (EMQQ - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of EMQQ are up approximately 84.2% from their 52-week low of $26.00/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
EMQQ in Focus
EMQQ follows the EMQQ The Emerging Markets Internet & Ecommerce Index, which is designed to measure the performance of an investable universe of publicly-traded, emerging market internet and ecommerce companies. The fund charges 86 bps in fees (see all Broad Emerging Market ETFs here).
Why the move?
Stocks that deal with internet related activities in the emerging markets have been performing great amid the coronavirus pandemic as it has less to do with human contact. The pandemic favored the online retailing and digital payments industry meaningfully as the stay-at-home trend boosted demand for online shopping, video gaming, esports and most importantly work-and-learn-from home. So, the fund soared to the 52-week high level.
More Gains Ahead?
The fund has a weighted alpha of 62.20. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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