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iShares MSCI Peru and Global Exposure ETF (EPU) - free report >>
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iShares MSCI Peru and Global Exposure ETF (EPU) - free report >>
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Peru ETF (EPU) Hits New 52-Week High
Investors seeking momentum may have iShares MSCI Peru and Global Exposure ETF (EPU - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of EPU are up approximately 57% from their 52-week low of $28.55/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.
EPU In Focus
The underlying MSCI All Peru Capped Index is a free float-adjusted market capitalization index designed to measure the performance of the Broad Peru Equity Universe. Materials sector takes about 59% of the fund. The fund charges 59 bps in fees and yields 3.19% annually.
Why The Move?
One of the main beneficiaries of the ongoing copper price rally is Peru. Peru has about 9% share of global copper reserves. The country is expected to benefit from increased investment and higher export demand over the medium term.
More Gains Ahead?
The fund EPU might continue its strong performance in the near term, with a positive weighted alpha of 61.37, which gives cues of a further rally. Most analysts believe that more rallies are expected for copper, which, in turn, should propel EPU.