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Colombia ETF (ICOL) Hits a 52-Week High
For investors looking for momentum, iShares MSCI Colombia ETF is probably a suitable pick. The fund just hit a 52-week high and is up 27.3% from its 52-week low price of $9.26/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
ICOL in Focus
The underlying MSCI All Colombia Capped Index is designed to capture the performance of the large, mid, and small cap segments of the Colombian market. The Index is a free-float adjusted market capitalization-weighted index. It charges 61 basis points in annual fees.
Why the Move?
Oil prices have been rallying amid the Russia-Ukraine geopolitical crisis. Since Colombia is an oil-rich country, the latest rally in the liquid commodity has become a plus for the fund.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 16.90, which gives cues of a further rally.
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