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China Healthcare ETF (KURE) Hits New 52-Week High

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Investors seeking momentum may have KraneShares MSCI All China Health Care Index ETF (KURE - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of KURE are up approximately 53.9% from their 52-week low of $18.79/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.

KURE in Focus

KURE looks to track the performance of MSCI China All Shares Health Care 10/40 Index. The Index is a free float adjusted market capitalization weighted index designed to track the equity market performance of Chinese companies engaged in the health care sector. KURE charges investors 65 basis points in fee per year.

Why the move?

Chinese biotech and pharma companies are benefiting from the push for coronavirus vaccine. The private Chinese company Sinovac Biotech is testing an inactivated vaccine called CoronaVac. On June 13, the company announced that “Phase I/II trials on 743 volunteers found no severe adverse effects and produced an immune response.”  

More Gains Ahead?

The fund has a weighted alpha of 47.52, per barchart.com. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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