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Japan Currency Hedged ETF (DXJ) Hits New 52-Week High
For investors seeking momentum, WisdomTree Japan Hedged Equity Fund (DXJ - Free Report) is probably on radar. The fund just hit a 52-week high and is up 21% from its 52-week low price of $61.36/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
DXJ in Focus
WisdomTree Japan Hedged Equity Fund provides exposure to the Japanese equity stock market without the currency risk by tracking the WisdomTree Japan Hedged Equity Index. It charges 48 bps in annual fees. (see: all the Developed Asia Pacific ETFs here).
Why the Move?
The Japanese ETF has been an area to watch lately, given the surging stock prices. Japanese benchmark Nikkei climbed to the highest level in 16 months, led by better-than-expected corporate earnings.
More Gains Ahead?
Currently, DXJ has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.