We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
For investors seeking momentum, VanEck India Growth Leaders ETF (GLIN - Free Report) is probably on radar. The fund just hit a 52-week high and is up 19.66% from its 52-week low price of $30.06/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:
GLIN in Focus
The underlying The MarketGrader India All-Cap Growth Leaders Index consists of fundamentally sound Indian companies that exhibit attractive growth potential at a reasonable price. The product charges 80 bps in annual fees (See: all the Asia-Pacific ETFs here).
Why the Move?
India's GDP growth in 2023 was spectacular, rising to an astounding 7.2%. India's GDP grew to $3.75 trillion from almost $2 trillion in 2014, moving it up from the tenth to the fifth-largest economy in the world as a result of this rise. India's rapid economic growth and surpassing China as the world's most populated country have attracted attention. There is increasing interest in India's potential to leverage its demographic advantage. Additionally, the country's expanding labor force is another reason for optimism.
The Indian government's emphasis on strengthening the industrial sector and promoting exports through the development of free trade agreements has been welcomed on a global scale. These initiatives are anticipated to support the nation's ongoing growth, with Moody's Analytics forecasting a growth rate of 6-6.3% for the June quarter.
More Gains Ahead?
Currently, GLIN has a Zacks ETF Rank #3 (Hold). However, it might continue its strong performance given a positive weighted alpha of 44.80.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Asia-Pacific ETF (GLIN) Hits New 52-Week High
For investors seeking momentum, VanEck India Growth Leaders ETF (GLIN - Free Report) is probably on radar. The fund just hit a 52-week high and is up 19.66% from its 52-week low price of $30.06/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:
GLIN in Focus
The underlying The MarketGrader India All-Cap Growth Leaders Index consists of fundamentally sound Indian companies that exhibit attractive growth potential at a reasonable price. The product charges 80 bps in annual fees (See: all the Asia-Pacific ETFs here).
Why the Move?
India's GDP growth in 2023 was spectacular, rising to an astounding 7.2%. India's GDP grew to $3.75 trillion from almost $2 trillion in 2014, moving it up from the tenth to the fifth-largest economy in the world as a result of this rise. India's rapid economic growth and surpassing China as the world's most populated country have attracted attention. There is increasing interest in India's potential to leverage its demographic advantage. Additionally, the country's expanding labor force is another reason for optimism.
The Indian government's emphasis on strengthening the industrial sector and promoting exports through the development of free trade agreements has been welcomed on a global scale. These initiatives are anticipated to support the nation's ongoing growth, with Moody's Analytics forecasting a growth rate of 6-6.3% for the June quarter.
More Gains Ahead?
Currently, GLIN has a Zacks ETF Rank #3 (Hold). However, it might continue its strong performance given a positive weighted alpha of 44.80.